The Great Depression Online

Great Depression Online Archive Issue:

What Will 2008 Bring?

Great Depression Online
Long Beach, CA
January 01, 2008

Inside This Issue You Will Discover…

*** Happy New Year
*** Disclaimer
*** What Will 2008 Bring?
*** And More

Happy New Year!

What will 2008 bring?

Will this be the year the DOW rockets past 15,000?  Will gold take out its old nominal high of $850 per ounce set on January 21, 1980?  Will it eclipse $1,000?

Could $100 per barrel become a reality in 2008?  Will the dollar drop to $1.50 per euro?

Here we’ll cast aside our humility and exercise our omnipotent powers for predicting the future.


We recently received criticism from a faithful reader because we often remark that we don’t know what’s going to happen next in the markets.  We got a good chuckle at this because, like all people, we must wait until tomorrow to read tomorrows headlines.

Plus with the glut of Masters of the Universe types making all sorts of grand predictions, we’d rather not further the accumulation of conceit floating around in the atmosphere; for it could be causing global warming. 

In that respect, we don’t pretend to have all the answers; we just look to history for guidance, and point out the obvious, while peering through a prism of natural and moral laws.

But with this being the first day of the New Year, we’ll grant ourselves a little arrogance, pull out the crystal ball, and gaze into the future for 2008.  This is purely for entertainment purposes and should not be construed as investment advice.

So with that behind us, here it is…

What Will 2008 Bring?

The DOW: Down.  Even with the Fed pumping insane amounts of money into the system, we anticipate an 8.173% correction.  How’s that for precision?  Ditto for the S&P 500 and the NASDAQ…give or take several percentage points.

Gold: Up.  The trend is your friend.  With gold entering its seventh bull market year we expect it to continue higher.  With all the money being created out of thin air to soften the liquidity crunch, gold should easily surpass $850 and head past $900.

Oil: Up.  Again, the trend is your friend.  Oil’s been rising since 1999.  While the economy is slowing, which theoretically should reduce demand, inflation is rising, so its dollar price should rise too.  Plus there’s real concern that ultimate oil extraction has peaked, resulting in dwindling supplies.  And all the geopolitical tension in the Middle East could push the price of oil higher too.  Look for $100 per barrel oil in 2008.

Housing: Down.  You can’t have the largest housing price inflation in history followed by only a minor correction.  Look for 17% declines in many of the formerly hot real estate markets of the U.S.

The Dollar: Down.  While it’s rallied as of late, we see no reason why its bear market should be over.  Why?  Debt.  Massive debt.  Obese, grotesque, gluttonous, debt.

Food: Up.  Greater demand coupled with great inflation can only send it higher.

Presidential Victor:  We can’t even presume a guess.  But whoever it is, we’re almost certain, they’ll be a disappointment.

We’re literary types.  So that’s about as far as we’ll go with our predictions.  But if you’re looking to capitalize on these trends, our friends over at Elliot Wave International can help.

In fact, they’re the world’s largest market forecasting company.  And have been helping their subscribers profit from market trends since 1979 – including trends in gold, energy, stocks, commodities, interest rates, and currencies. 

You can learn more about their Specialty Services here.


M.N. Gordon
Great Depression Online

P.S.  Here’s to a Happy and Prosperous New Year.

P.P.S.  We’ll be at the Rose Bowl in Pasadena today.  And, yes, we’ll be rooting for USC.  We’ll qualify this by saying that we never wanted to be a USC fan.  In fact, we resisted it like a diabetic resists a slice of chocolate cake.  But with Pete Carroll’s enthusiasm and success it’s become hard not to pull for them.  Still we disparage the USC Law School and MBA grads for their inherent pomposity.

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