“Prediction is very difficult, especially about the future.”
I know as well as anyone that the future is uncertain and that much has yet to transpire. But now that Obama is officially the 44th President of the United States, I will reveal my thoughts, much like Justin Raimondo of Antiwar.com, regarding what I think will happen in 2009 with Obama as President. For the most part, I expect more of the same. As we eagerly professed on campus today, there is little to no substantial difference in the policy of George W. Bush and Barack Hussein Obama.
1. Inflation will reach record levels not seen since the 1970s, at least 10%.
Bailouts will continue. Government debt will spiral out of control. The Federal Reserve will keep pumping money into the economy. Already we have seen upwards of seven trillion dollars promised as the result of bailouts and the Fed – over one-half of the annual GDP of the USA. How this can be expected not to result inflation is beyond comprehension. I also expect the price of gold to soar at to at least $1000/oz. However, I doubt inflation will reach Weimar levels, though I admit it is something that we should be wary of over the horizon.
2. Economic protectionism will begin to be legislated from Congress in the name of our “economic national security.”
Of course, we know that this is already happening, but I think that unless other currencies fall with respect to the dollar to the levels of five years ago or more we will see industry continue to exit America. And as they attempt to do so, they will be extremely penalized. This will contribute further to cost-of-living increases (as protectionism always does), hurting the poor the most and further influencing those of fewer means to cry out to the government for even more intervention.
3. Universal Health Care will become reality.
With both houses of Congress and the Presidency controlled by the same party and the inevitable inflation coming, I fully expect that Universal Health Care will finally be shoved down our throats. The cost of health care will rise even further, and care quality will drop just as it does in all medically-socialized countries.
4. The Patriot Act will not be repealed, and we will not see an end to illegal wiretapping.
Ultimately, this prediction comes back to the presidential powers that Il Duce Bush took to new heights in the last eight years. I do not expect that those powers will be given up by Obama. Consequently, the encroachments upon civil liberties will continue in all the ways we have experienced thus far and likely moreso.
5. More war. We will not exit Iraq, and interventions in Afghanistan and Pakistan will expand to greater extents than we have ever seen.
Every indicator points to an expansion of Middle East interventions. Rahm Emmanuel, Hillary Clinton, Robert Gates, “the surge is working” rhetoric, influence from the Israel lobby – it all screams “I’m going to continue the Bush doctrine of pre-emptive war, we ain’t leaving!” While this should thrill pro-war conservatives, it should make all those who oppose war – whether liberal, conservative or libertarian – nothing short of livid. Change? I think not. What’s more, expect the liberal media pundits to begin to shill for Obama’s further interventions, and for conservatives to say things like “finally things are going our way in the media coverage of the War on Terror.”
So that’s what I think we’ll see. I pray to God that I’m wrong about any of these at all. Never would I be so happy to be wrong, but I don’t see much coming out of the Obama administration that favors the cause of liberty.
We will revisit these predictions at the end of 2009, and see how it turned out. Stick with me, we’ll make it!
What are your predictions? What do you think will happen? Comment below and discuss…