I just posted this over at HousingPanic and thought I'd share it here:
Home prices will plummet to unimaginable lows in summer of 2008 when the bulk of arm resets hit, the FB's learn that Bush's bailout bill was a bunch of political smoke & mirrors that doesn't help anyone, and credit becomes all but impossible to obtain.
Oil prices skyrocket more - $5/gallon gas. Gold continues to rise on a weak dollar.
Phoenix/Scottsdale is hit with more store & restaurant closures and starts to look like a ghost town (parts of Scottsdale already do). Unemployment in that city skyrockets to double-digits thanks to the 40% REIC-based economy, crime spirals out of control, and the normal people pack up and move out, leaving behind the "New Detroit" for criminals and looters to take over. City of Scottsdale goes bankrupt due to massive loss of property taxes and the failure of their photo radar scheme to become profitable.
(People forget that before the REIC took over, Phoenix's economy was call center and factory jobs, which have now all moved to China and India.)
Other bubble cities such as Vegas, San Diego, Miami, suffer losses on a much smaller scale since they have something other than REIC to fall back on for jobs; however, the effects are still felt in those places.
There will be no terrorist attacks because Bin Laden wants a Democrat president in the U.S., and attacking us in 2008 will just make more people vote Republican.
Ron Paul won't win but his campaign will have woken enough people up that more and more Americans will take a stand and start putting their foot down against anti-American and anti-Freedom crap like the IRS, wealth redistribution (including socialized healthcare), gun control, global warming, special privileges for minorities, illegal immigrants, overzealous police, and everything else that is chipping away at our freedom.
Now let's hear your predictions - add your comments below!