recession?

Back in 2007 I predicted that in 2008 we would have an increase in the price of oil and that this would trigger a recession - IT DID!

Because all the money went to pay for food and fuel people could not make payments on houses and foreclosures did increase causing banks to fall. This fall of banks did collapse the economy. Well, now gas is cheaper; however, the damage is done.

``We're in this self-reinforcing negative cycle,'' said Mark Zandi, chief economist at the West Chester, Pennsylvania-based Moody's Economy.com. ``It's going to be a very significant recession.''

I predict that we will see oil go back up in the future as supplies run out and people will be in worse shape in 2009 than they are now economically. Get ready, brace yourselves for impact it will be a hard landing.