From Chris at Americablog:
The greenback bounced on lows not seen since the Nixon years (the trend continues in 2008), the price of gas both per barrel and at the pump hit new highs, discrepancy between rich and poor increased, health care costs jumped yet again and housing collapsed to lows last witnessed under Bush I. As we enter 2008, the first day of trading on Wall Street was the worst in 25 years. On the same day, gold hit an all time high and oil crossed the critical $100 per barrel mark.Does anyone trust Bush to fix this? Yeah, me neither.
My prediction: the DJIA will hit its lowest level since a year ago -- around 12,000. Of course, I'm no economist...but this guy is, and he sees big trouble ahead. Now it's Krugman's turn to chime in. If you want to vote on facebook on the state of the economy, click here.
This guy thinks there is a speculation bubble in alternative energy markets. He lays out more here. All I can say is, "I hope not," because I really want to see solar/wind/nuclear take off and soar.
