The Ought Nine Outlook

As promised, my predictions for 2009:

1. Obama's stimulus package is passed, but it makes Bush's tax cuts permanent. It fails to do much of anything and real unemployment rises dramatically as entire malls close across the country and millions in retail lose their jobs.
   
2. The S&P 500 indeed drops to 500. The Dow hovers around the 5k mark. A number of banks go under and are bought out and merged. The financial sector sits on the TARP money and housing prices continue to tumble. Another bank bailout is passed, and it fuels a major wave of bank consolidation across the country. Job losses in the sector for the year approach 250,000.
   
3. Benjamin Netanyahu is elected Israeli PM, and Israel bombs Iranian "nuclear sites", forcing a very ugly global confrontation. The US backs Israel, and Iraq and Afghanistan spiral out of control as a result. Reprisal attacks against American interests if not the US itself rage on.
   
4. GM closes its doors, putting hundreds of thousands out of work. Chrysler is spared barely, merging with Ford, and the remaining automakers band together to share suppliers. Still, layoffs in the rust belt states are brutal, with real unenployment in Michigan hitting 25%.
   
5. Universal health care fails to pass at all thanks to Blue Dog Democrats and prime-time commercials showing huge lines outside ER rooms and doctor's offices. As a result, Tom Daschle resigns his cabinet position. The bill that does pass is a gift package to Big Pharma that greatly curtails generic drugs.
   
6. California, New York, and Michigan declare bankruptcy. Essential government services in those states will be shut down for a time while Washington drags its ass. Other states will begin to ask for billions in bailout money.
   
7. The resulting riots in a major American city forces Obama to call in the Army. At least one GOP lawmaker will publicly say Obama should be impeached for doing so. Bonus points if that lawmaker turns out to be somebody other than Ron Paul.
   
8. The Blagojevich appointment of former Illinois AG Burris to Obama's old seat and the Senate's refusal to seat him causes nothing but problems for the Dems as Burris v. United States reaches the Supreme Court. The Senate loses the case. Burris is greatly pressured by the Dems to resign once the state law in Illinois is changed to accomodate a special election and/or Blagojevich is impeached and removed...that is if the impeachment doesn't go to the Supreme court too.
   
9. Vladimir Putin once again becomes President of Russia and makes his move demanding the Eurozone pay up for oil and gas. Oil goes to $80 a barrel.
   
10. At least one major assassination attempt on Obama's life is made/broken up as he is blamed for the miserable economy, the riots, and the job losses. The country rallies for a while around him, but the GOP sets the table for taking back Congress in 2010.
    

Here's hoping I'm wrong.