Happy New Year, last year many have been predicting 2009 to be a very economically weak year and it will be a very daunting task for US President-Elect Barack Obama come this January 20th, once he step into Office.
Year-end festivities and celebration - Christmas, Maal Hijrah (Muslim's New year) and New Year celebration were marred by Israelis attack on Palestinian's Gaza and the destruction of a Mosque in Gaza. Hundreds of Civilians including children and women died. The Israelis are taking advantage of the outgoing US president G Bush final days and to test the President-elect Obama and his jewish Key Official. It is a very sad situation for the Palestinian and the world ending the year with death and start a new year in war.
Bad start for a new year indeed. Predictions of recessions in Europe and financial failure lingers into 2009, but celebration for a new year with all the fireworks continues luxuriously, no sign of cutting the expenditure for entertainment...
It is also strange how an ex US top financial official can get involve in Ponzi sheme and lost investors money up to USD50 billion?
Before end of the year, the crude oil price started to inch higher above USD40 and as i am writing is above USD43 per barrel against it lowest level of USD33pb last year.
Anyway as i had predicted since July 2008 that 2009 will be a very challenging and tough year for the global economy will continue into 2010...
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