Home > Investment tips, Predictions for 2010 > James Quinn’s predictions for 2010: Double dip by year’s end

James Quinn’s predictions for 2010: Double dip by year’s end

James Quinn (he of TheBurningPlatform.com) has some interesting predictions for 2010 here at MarketOracle.

Essentially, he’s predicting a double dip. higher unemployment, broken ARMs blowing up all over America, a massive CRE bust, higher interest rates and a surge in gold and silver as the US dollar tanks.  He also predicts the fringes of Europe will be on fire by the end of the year and the big EU banks will start to melt in the heat. 

I also predict a Japanese boa-constrictor-style double dip and a CRE bust in Oz and the US, but don’t see a big hike in interest rates coming up in the US, where the bond market is controlled as tightly as the price of milk in the old Soviet Union.  I suspect the Marxist central planners at the Fed would prefer to let go of the US dollar rather than kill the economy through a spike in real interest rates.  They’ve shown themselves to be completely gutless on controlling growth in the money supply over the past decade.  What will give them the requisite courage this year?  I doubt they’re going to get religion and allow the market for bonds for fall freely without intervening to save at least the short end of the market.

Let’s see what happens.  I thought it couldn’t get any worse than the last two years, but the blindness, the short-termism, the venality, the stupidity, the plain madness of govt can never be underestimated, and it looks like we’re in for another downdraft from the idiot-savant govt’s “good intentions” this year.  The only thing this idiot-savant is good at is lying and displaying extraordinary amounts of chutzpah.

There is no God.

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