. Psychic Predictions by Pernel made on November 7, 2007
* We will head into a depression.
Nov. 7, 2007 (Bloomberg): Dollar Slumps to Record on China’s Plans to Diversify Reserves The dollar fell the most since September against the currencies of its six biggest trading partners after Chinese officials signaled plans to diversify the nation’s $1.43 trillion of foreign exchange reserves. The dollar fell against all 16 of the most-active currencies, declining to the weakest versus the Canadian dollar since the end of a fixed exchange rate in 1950, a 26-year low against the pound and a 23-year low versus the Australian dollar. The New York Board of Trade’s dollar index dropped to 75.21 today, the lowest since the gauge started in March 1973. By Agnes Lovasz and Stanley White
Nov 15, 2007 WASHINGTON (Reuters) by Mark Felsenthal: Consumer prices up sharply as jobless claims rise. U.S. consumer prices rose briskly last month on energy costs, but outside volatile energy, inflation was largely contained, leaving room for the Federal Reserve to cut interest rates to bolster a slowing economy. A second government report on Thursday showed an unexpectedly steep rise in initial claims for jobless benefits last week, a suggestion the labor market is softening as the economy lumbers under the weight of a housing downturn, tighter credit and higher energy prices.
Nov 24, 2007: by Michael Barbaro – Bargains Draw Crowds, but the Thrill Is Gone – American consumers flooded stores yesterday on the traditional first day of the holiday shopping season, but the irrational exuberance of the Black Fridays of the last five years has been replaced by pragmatic restraint. With an uncertain economy, a slowdown in the housing market and high gas prices hanging over their heads, consumers flocked to discount chains like Wal-Mart, Target and Best Buy, brandishing bargain-filled fliers. In a reversal from years past, they largely bypassed more expensive retailers, including such powerhouses as Nordstrom, Coach and Abercrombie & Fitch, according to shoppers and merchants interviewed around the country. The nation’s retailers are making the same prediction, expecting this to be the weakest holiday shopping season in five years. NY Times.
* Drought will continue in many places and will become a critical problem.
Resource: http://drought.unl.edu/dm/monitor.html
* Tensions with Iran will heat to a very bad boiling point and war will be threatened
Nov 18,2007: (CBS/AP) Venezuelan President Hugo Chavez warned the United States on Saturday that oil prices could more than double if Washington attacked his country or Iran – part of a provocative opening address here to a rare OPEC summit. “Oil is an energy for development, it should not become a tool for conflict and emotions,” said Abdullah, a strong U.S. ally. Chavez used his position as the summit’s opening speaker to further his faceoff against the U.S. “We are witnessing constant threats against Iran,” Chavez said. “If the United States attempts the madness of invading Iran or attacking Venezuela again, the price of oil is probably going to reach $200, not just $100,” Chavez said. While Iran has been in a standoff with the U.S. over its nuclear program, left-wing Chavez is a bitter antagonist of President Bush. “We are witnessing constant threats against Iran. I think OPEC should strengthen itself in this capacity and demand respect for the sovereignty of our nations, if the developed world wants a guaranteed supply of oil.” Meanwhile Irans President has vowed that if the United States dares to attck his country he will attack back. AOL NEWS
* Food prices will take sharp rises.
Nov 15, 2007: WASHINGTON (Reuters) by Mark Felsenthal- Consumer prices up sharply as jobless claims rise. Food prices increased at a 5.5 percent annual rate in 2007, compared with a 2.1 percent rise in 2006.
Nov 22, 2007: Thanksgiving Inflation: 11% – A Thanksgiving Day turkey dinner with side dishes and dessert will be 11% more expensive this year, the biggest annual increase since 1990, because of depleted frozen-turkey supplies and rising energy prices. The average cost of 12 items typically served during the Nov. 22 holiday in the U.S. rose to $42.26 from $38.10 last year- The American Farm Bureau Federation.
* Expect some weird events this fall and winter, like tornados, freak storms, lighting strikes, things out of the ordinary.
Nov 14, 2007: Thousands flee as 150 mph cyclone batters Bangladesh. Tropical Cyclone Sidr, packing sustained winds of up to 150 mph. USA Today