Like a great economist, or market analyst, I have my own econometric forecasting tool: The Magic 8 Ball by Mattel.
Over the years, it has proven as accurate as any other modeling tool, although it seems to have accumulated a few bubbles over the years, and it was off a tad, here and there, in it’s predictions for 2012.
As for 2013, well, it looks to be like another year full of fits and starts, slight improvements here and there, and always, the looming threat of some kind of unexpected collapse overhead that spoils the whole forecast.
Click here to read my 2013 Magic 8 Ball Forecast in The Sunday Wall Street Journal.
And click here to see what it predicted for 2012. It predicted, for instance, that President Obama would be reelected long before the clown show that was the GOP nomination process really got started, and long before it looked like Mitt Romney could win after a decisive debate victory in Denver.