Errors Apparent: 2008's Worst Predictions

magazine recalls year's worst punditry
By Paul Stinson
Posted Dec 13, 2008 4:42 PM CST
Errors Apparent: 2008's Worst Predictions
Hundreds of people watch riot police drive past a local supermarket as they queue in Nairobi. The violence started in the days after the vote, stretching from Nairobi's shantytowns to the coast.   (AP Photo/Karel Prinsloo)

Presidential candidate Bloomberg? Nope. Russia invading the Ukraine? Hardly. Foreign Policy takes a look back at the worst predictions of the year:

  • A stabilized banking system: Shortly after Henry Paulson forecast stability on Wall Street, Citigroup’s stock price dropped 75% and closed below $5 for the first time since 1994.

  • Oil reaches $150-$200 per barrel: A renowned Goldman Sachs analyst predicted high oil prices only months before they dropped by more than $100.
  • William Kristol predicts Clinton nomination: “Barack Obama is not going to beat Hillary Clinton in a single Democratic primary." Rumor has it, the New York Times is seeking to replace him.
  • Kenyan election sets example for Africa: The Economist touted Kenya's election process, soon before it sparked fraud and rioting that left more than 800 dead.
For the complete list, click here:

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