Bloomberg reports the ‘Pessimists guide to the world in 2016’, by By Flavia Krause-Jackson, Mira Rojanasakul, and John Fraher.
Excellent stuff. A healthy dose of realism to counter the spin and gloss and outright refusals to notice things that don’t fit the agenda that we so often expect from today’s media. Their entries deserve some comment, and I’ll add a few more. I’m good at pessimism.
Their first entry is oil reaching $100 a barrel as ISIS blows up oil fields. Certainly possible, though they also report the existing oil glut: http://www.bloomberg.com/news/articles/2015-12-17/shale-drillers-are-now-free-to-export-u-s-oil-into-global-glut
Just because the second option is the more likely does not invalidate the first as a possible scenario, so that entry is fine.
An EU referendum in June is their 2nd entry. Well, that will only happen if Cameron gets his way and the EU agrees sufficient change to make the referendum result more likely to end in a Yes. If there is any hint of a No, it will be postponed as far as possible to give politics time to turn the right way. Let’s face facts. When the Ukraine had their referendum, they completed the entire process within two weeks. If the Conservatives genuinely wanted a referendum on Europe, it would have happened years ago. The Conservatives make frequent promises to do the Conservative thing very loudly, and then quietly do the Labour thing and hope nobody notices. Osborne promised to cut the deficit but faced with the slightest objections from the media performed a text-book U-turn. That follow numerous U-turns on bin collections, speed cameras, wheel clamping, environment, surveillance, immigration, pensions, fixing the NHS…. I therefore think he will spin the EU talks as far as possible to pretend that tiny promises to think about the possibility of reviewing policies are the same as winning guarantees of major changes. Nevertheless, an ongoing immigration flood and assorted Islamist problems are increasing the No vote rapidly, so I think it far more likely that the referendum will be postponed.
The 3rd is banks being hit by a massive cyber attack. Very possible, even quite likely.
4th, EU crumbles under immigration fears. Very likely indeed. Schengen will be suspended soon and increasing Islamist violence will create increasing hostility to the migrant flow. Forcing countries to accept a proportion of the pain caused by Merkel’s naivety will increase strains between countries to breaking point. The British referendum on staying or leaving adds an escape route that will be very tempting for politicians who want to stay in power.
Their 5th is China’s economy failing and military rising. Again, quite feasible. Their economy has suffered a slowdown, and their military looks enthusiastically at Western decline under left-wing US and Europe leadership, strained by Middle Eastern and Russian tensions. There has never been a better time for their military to exploit weaknesses.
6 is Israel attacking Iranian nuclear facilities. Well, with the US and Europe rapidly turning antisemitic and already very anti-Israel, they have pretty much been left on their own, surrounded by countries that want them eliminated. If anything, I’m surprised they have been so patient.
7 Putin sidelines America. Is that not history?
8 Climate change heats up. My first significant disagreement. With El-Nino, it will be a warm year, but evidence is increasing that the overall trend for the next few decades will be cooling, due to various natural cycles. Man made warming has been greatly exaggerated and people are losing interest in predictions of catastrophe when they can see plainly that most of the alleged change is just alterations to data. Yes, next year will be warm, but thanks to far too many cries of wolf, apart from meta-religious warmists, few people still believe things will get anywhere near as bad as doom-mongers suggest. They will notice that the Paris agreement, if followed, would trash western economies and greatly increase their bills, even though it can’t make any significant change on global CO2 emissions. So, although there will be catastrophe prediction headlines next year making much of higher temperatures due to El Nino, the overall trend will be that people won’t be very interested any more.
9 Latin America’s lost decade. I have to confess I did expect great things from South America, and they haven’t materialized. It is clear evidence that a young vibrant population does not necessarily mean one full of ideas, enthusiasm and entrepreneurial endeavor. Time will tell, but I think they are right on this one.
Their 10th scenario is Trump winning the US presidency. I can’t put odds on it, but it certainly is possible, especially with Islamist violence increasing. He offers the simple choice of political correctness v security, and framed that way, he is certainly not guaranteed to win but he is in with a decent chance. A perfectly valid scenario.
Overall, I’m pretty impressed with this list. As good as any I could have made. But I ought to add a couple.
My first and most likely offering is that a swarm of drones is used in a terrorist attack on a stadium or even a city center. Drones are a terrorist’s dream, and the lack of licensing has meant that people can acquire lots of them and they could be used simultaneously, launched from many locations and gathering together in the same place to launch the attack. The attack could be chemical, biological, explosive or even blinding lasers, but actually, the main weapon would be the panic that would result if even one or two of them do anything. Many could be hurt in the rush to escape.
My second is a successful massive cyber-attack on ordinary people and businesses. There are several forms of attack that could work and cause enormous problems. Encryption based attacks such as ransomware are already here, but if this is developed by the IT experts in ISIS and rogue regimes, the ransom might not be the goal. Simply destroying data or locking it up is quite enough to be a major terrorist goal. It could cause widespread economic harm if enough machines are infected before defenses catch up, and AI-based adaptation might make that take quite a while. The fact is that so far we have been very lucky.
The third is a major solar storm, which could knock out IT infrastructure, again with enormous economic damage. The Sun is entering a period of sunspot drought quite unprecedented since we started using IT. We don’t really know what will happen.
My fourth is a major virus causing millions of deaths. Megacities are such a problem waiting to happen. The virus could evolve naturally, or it could be engineered. It could spread far and wide before quarantines come into effect. This could happen any time, so next year is a valid possibility.
My fifth and final scenario is unlikely but possible, and that is the start of a Western civil war. I have blogged about it in https://timeguide.wordpress.com/2013/12/19/machiavelli-and-the-coming-great-western-war/ and suggested it is likely in the middle or second half of the century, but it could possibly start next year given the various stimulants we see rising today. It would affect Europe first and could spread to the USA.