This didn’t happen because demand has been so effectively diminished by the soft economy. When consumers cut back, one of the first places they look is miles driven.
Finally, we predicted, “insider Republicans by the end of 2011 will be well on their way to nominating for President a Mitt Romney or Governor Haley Barbour.” Haley Barbour stepped out, and Newt Gingrich stepped up but Mitt Romney has consolidated the establishment receiving endorsements from Bob Dole and George H. W. Bush.
Our prediction is that it doesn’t matter whether Romney, Ron Paul or Gingrich, is the Republican nominee in 2012, the GOP nominee is going to defeat Barack Obama. In future columns we will explain why we are bullish on Republican prospects.
The summer of 2012 will be more violent than the summer of 1968. Occupy protests will morph from hippies dancing to the beat of African drums into a mob tossing Molotov cocktails and burning buildings. Think the violence we see in Cairo and Athens is an ocean away? Don’t bet on it. Most occupy protesters are just uninformed dupes, but inside the leadership lurks hard core Marxists that haven’t let their dreams of violent revolution die.
Finally, MF Global is the start of an international bank run, and we haven’t seen the end of the panic. The global financial system is under a crushing load of debt, and it only takes a catalyst to bring down the house of cards. Don’t expect stocks and other financial instruments to have a good year.
Please make moves to protect yourself through diversification of investments and the ownership of some real assets including gold.
And remember your best protection is to think for yourself and not rely on the media’s current wisdom. The current wisdom is often the foolish belief of a generation ago. Remember when they said real estate will never go down?
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