List of Predictions - Economic Forecasting

Economic Forecasting

• Oil Storm is a 2005 television docudrama written by James Erskine and Caroline Levy. The movie deals with the impact that a Category 5 downgrading to a Category 4 hurricane in the Gulf of Mexico would have if it hit New Orleans, destroyed large numbers of offshore oil rigs in the Gulf, and crippled the primary nerve center of the Gulf Coast petroleum. (aired June 5, 2005)
  • Hurricane Katrina: Category 3 (morning of August 29, 2005)
• In 1987, Ravi Batra predicted an economic depression in his best-selling book, The Great Depression of 1990. He subsequently wrote other books on surviving economic upheaval.
• In 1996, economist Alan Greenspan famously stated that there was irrational exuberance in the stock market on Dec 5, 1996, and indeed, may well have contributed to it as a result of his policies as Chairman of the Federal Reserve. His warning went unheeded and the stock market continued to boom in the late 1990s until the stock market downturn of 2000 and 2001, when it became evident that the warning had been correct.
• In 2006, economist Peter Schiff gave a speech predicting the bursting of the US housing bubble.