2012 is going to be a much more difficult year for the U.S. economy and the global financial system than 2011 has been.
And there's two gunslingers moseying in at the Straights of Hormuz, or is that Vermouth? Since it's a pinch point for the world's oil supply, it's kind of important. Which everyone should be asking very hard questions such as - what will that do to the price of oil? And what will happen when the US retaliates?
On top of that brewing hot spot, the global economy is a broken iPhone, with a cracked screen - but it still makes calls as long as the rubber band is placed in exactly the right spot. How long is that going to last?
Don't kid yourself - the Europeans are about to make 2008 look like an appetizer tray at Applebee's. It's not just Greece, it's not just Italy - there are several Europeans on the precipice of default. No one wants to loan cash to business or consumers... and the Euro is falling. Financial companies are shutting down. I've still got a glimmer of hope for the EuroZone -- they can't make as much money letting it collapse as they can keeping it held together with duct tape. It's not much.
It wouldn't be oh so bad - if they had fixed the root problems in the first place -- but they didn't, and neither did the US. The punting team doesn't win games. See also the Congressional Super-committee. Has the housing crisis been solved? Will we finally see all the foreclosures this year, like we're supposed to? Bring out that punting team, again.
On the bright side, I'm looking forward to seeing some movies in the New Year. The Hobbit and the Batman will help me forget about losing all my money for a third time. Here are some more worth mention.
Obama signed the NDAA into law, which effectively dismantles Bill of Rights. If he does win against Mitt, his limp victory will be seen as a victory for the Keynesian economic wanks, and will have repercussions for decades. See also Greece.
The US economy will, in spite of itself - and in spite of still demanding manufacturing and plastic goods from China - will recover, but it'll be soggy toast. The discourse will still be mind numbing gridlock -- because the Senate and House will return to the Republicans. The discussion of the size and power of the State will finally have to be brought up. The Tea Party and Occupy Movement will either show their weight at the ballot box and force the issue, or they won't and we'll keep talking about the Kardashians.
Need a hangover cure? Water, water, more water. Multi Vitamin. Then take some ibuprofen. And do not watch the Bears and Vikings have their little slap fight. Instead watch Packers and the Lions.