Daily News: December 31, 2014

The Five Worst Predictions for 2015

In a recent Yahoo! report, the five worst predictions for 2015 were made.
According to the report, around this time last year, some of the common predictions for 2014 were: Interest rates would rise (in reality, they fell). Oil prices would surpass $100 per barrel and stay there (latest price: around $54); Apple’s iWatch would be the killer product of the year (it’s not out yet); and the stock market rally would stall (stocks are likely to end the year up a frothy 13% or so).

The worst predictions for 2015:

It will be a breakthrough year for wearable technology. The iWatch should finally make its debut, with dozens of cheaper smart watches and other wearable gizmos already on the market. Google (GOOGL) Glass was supposed to be a breakthrough product by now, but the few trons who wear it have failed to incite the mass-market face-computing craze true believers still think is coming.

The Internet of Things will begin to dominate. There probably will come a time when digital devices communicating with each other will allow homes, cars, refrigerators and many other products to operate like a symphony of smart living because they know when and where we need to use them.

Gasoline prices will be [?]. They might drift below $2 per gallon, or rocket up to $4. Nobody knows! But forecasters still have to guess.

Corporations will take on governmental roles. Since Washington, Brussels and other governing capitals can’t get anything done, the thinking goes, corporations that know how to solve problems will begin to get involved in civic matters such as fixing roads, funding schools and managing public health care.

The stock market will be sanguine in 2015. With the economy stronger than it’s been in years, consensus forecasts call for a gain of 10% or so for the S&P 500 by the end of 2015.

To view the full report, click here.