Constant Conservative

Jay Reding has been at this (writing on policy and politics) much longer than I have. I’m not sure exactly what that means, other than to say that he’s done some very good work laying out his predictions for next year (and I’ve not taken the time to do the same). Here is the section on economics (as a teaser):

• The recession will not go away in 2009.
• Obama’s $1 trillion stimulus bill will narrowly pass on a party-line vote. It will not stimulate the economy, but will cause further job losses as small businesses prepare for the worst.
• The Dow will sink below 8,000 and not stay above that level for most of the year.
• By the end of 2009, the U.S. will face double-digit unemployment, economic recession, and massive deflation as the credit markets remain frozen.
• Congress will pass a protectionist trade measure that will have massive ripple effects throughout the world economy. The European Union will push for the WTO to punish the U.S. for their actions. Rather than improve our relations worldwide, America will be disliked ever more intensely across the globe.
• The one bright spot will be that consumers begin shedding their debts and living more fiscally responsible lifestyles.

One can only hope that the last item comes true. Pain is often the only way to learn life’s hardest lessons. Make sure you go over and read the rest of Mr. Reding’s predictions. You are, of course, welcome to leave your own here in the comments.