James Kuntsler

James Kuntsler gives his annual forecast

You may not like Kuntsler's heavy-handed disdain for, well, most everything, but he's great at generating real zingers, and he is right on target about the need to move the U.S. and the rest of the world off of an economy based on burning fossil fuels.

I expect a period of euphoria to mark the early weeks, perhaps months, of the Obama team. It will be a relief to have a president who speaks English correctly and has experienced something like real life prior to politics. Restoring credibility and legitimacy in leadership will be a big deal. If nothing else, we may recover a collective sense of consequence from a president who tells the truth, even the harsh truth. The age when it was enough to claim that "mistakes were made" might be over. A sign of this sort of change may be the commencement of prosecutions for misdeeds in banking and securities that are now destroying the entire system of deployable capital.