On this date last year, I wrote that gold would surpass $1,350 an ounce, that bank failures would continue rising, and that unemployment would remain stuck above 9%.
I also wrote that continued joblessness ensured: “Democrats will lose big in the November election. Too bad the Republicans … don’t have the solution, either.”
That was easy. So was predicting weak economic growth. (Click here to see my Jan. 2, 2010 post.)
Oh, by the way, I do most of my forecasting using a Magic 8 Ball by Mattel. It’s at least as accurate as any Harvard-trained economist.
Less accurately, I predicted oil would top $100 a barrel. It’s getting close, at more than $91, but not quite.
I also predicted 2010 would be the peak year for mortgage foreclosures. But it now looks like the peak will hit in 2011.
I also fudged on the Dow Jones Industrial Average, saying it was so volatile it could both retest its 2009 low of 6,500, which it didn’t, and surpass 11,000, which it did. Hooray!
So what’s up for 2011?
Click here to see what my 8 ball had to say about that.