Summary: The most striking change of the past year in the markets is the sharp rise in gold (32%) and oil prices (57.5%) and the 11.5% drop in the value of the dollar against the euro. The past year also saw the end of economic optimism in the media as the housing bubble finally burst. The consequences of the collapse in housing prices have not fully played out. The aftershocks in the credit system will likely shape the economy in 2008. Looking ahead, it looks likely that 2008 will differ from 2007 far more significantly than 2007 differed from 2006.
"sticking to his guns (literally and figuratively), for reshaping the rules of politics to fit his ten-gallon-hat leadership style and for persuading a majority of voters this time around that he deserved to be in the White House for another four years. For sharpening the debate until the choices bled, for reframing reality to match his design, for gambling his fortunes - and ours - on his faith in the power of leadership."
©wnbc.com |
Trent Young |
©Unknown |
©REUTERS/Ahn Young-joon/Pool |
File photo shows South Korean President Roh Moo-hyun talking to his staff before casting his ballot at a polling station in Seoul Dec. 19, 2007. |
©Reuters |
An image taken by an amateur photographer shows a man [circled] aiming a handgun toward's Benazir Bhutto's vehicle |
©Unknown |
The DVD camera snapped a driver apparently steering by his feet |
Security cameras on display at the 11th China Public Security Expo. in Shenzhen, China. |
©REUTERS/Mark Wilson/Pool |
A U.S. Army soldier locks a cell at Camp Delta at Guantanamo Naval Base, Cuba, August 23, 2004. |
"Bush, your orders will not be implemented and your tutelage is rejected."
- Hezbollah Deputy General Sheik Naim Kassem, in response to President Bush's call for Prime Minister Fouad Siniora to ignore the constitution and push through his candidate for president.
©Unknown |
©Daily News |
Unfed bugs are 1/4 to 3/4 inch long. They are brown or red-brown in color and the upper surface of the body appears crinkled. Recently fed, they are engorged with blood, dull red in color. |
©Oshkosh Northwestern/Shu-Ling Zhou |
Andy VanKeuren, 6, and his sister, Maddy, 8, play at the snow at their backyard Friday, December 28, 2007. |
©REUTERS/Susana Vera |
People take part in a free yoga class at the Parque del Oeste in Madrid September 27, 2007. |
©REUTERS/Lucy Nicholson |
A hamburger is displayed in Hollywood, California October 3, 2007. |
Lucy, the space diamond |
©Unknown |
©Randy Montoya |
Sandia researcher Ted Borek used gas chromatography and mass spectrometry to analyze vapors produced by mild heating of pot samples. |
©Unknown |
Mr Hughes says the objects were like those captured on camera near Wrexham earlier this year. |
©Daily Mail |
Satanism on the rise: Pope Benedict has unveiled plans to set up specialist exorcism squads |
©Hillel Levin |
As the Bush presidency winds down, the Bush Out of Office Countdown 2008 desk calendar is just winding up. |