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Some of the things that I would like to see in 2010. These are not predictions rather wishes and wishful thinking.
1. Peace and quiet in the investment world (and why not for the world in general?). All right 2009 was a good year for stock and risk oriented bond investors. It did, however exact a proverbial pound of flesh. Nothing goes up in a straight line but wouldn’t it be nice to have a good year without the rocket ride that was 2009.
2. Higher interest rates. “Be careful what you wish for” but some movement higher in rates would be appreciated as it would give CD investors some rate relief but also would indicate that the economy is continuing to improve. Significantly higher rates would hurt the stock and bond market but a modest move higher would be a good thing.
3. A housing recovery. Things were out of control as many “younger” homeowners used their house as an ATM machine and siphoned equity out and purchased the newest of toys. We don’t want a return to the go-go days of spec housing buys but stability gets the job done.
4. Health insurance reform - radical surgery is not needed but some provision for afforable health care and insurance. We naturally do not favor a “Robin Hood” health care reform but something must be done to contain spiraling higher health care costs. People complain more about the price of gas increasing (modestly at best over time) than they do the price of a surgery or prescription.
To all a healthy, happy and prosperous 2010. That would seem the order of importance as well.