Looks like 2011 could turn out to be quite a year. Peter Schiff, the man who called the mortgage crisis years in advance, is predicting that the dollar will lose 50-70 percent of its value and unemployment will continue to rise in 2011.
If that weren't bad enough, Bloomberg is reporting that Iran will hold the presidency of the Organization of Petroleum Exporting Countries (OPEC) in 2011:
Iran will hold the presidency of the Organization of Petroleum Exporting Countries in 2011, Saudi Arabian Oil Minister Ali al-Naimi told reporters after an OPEC meeting in Vienna today [Oct. 14]. Iranian minister Masoud Mir-Kazemi was expected to hold the post next year after being named as OPEC's alternate president at a meeting in March.
For the first time in 36 years Iran will chair the OPEC presidency. As Iran moves forward with nuclear capabilities it will head up the organization that controls the flow of oil.
I wonder if the Obama administration has any national security concerns in light of its "green energy" policy and U.S. dependence on foreign oil.