It’s never easy to forecast what the economy will do in a given year. 2011 proved to be much more volatile than anyone could have imagined.  The debt ceiling debacle in Washington ended with the U.S. being stripped of its AAA credit rating, QE2 ended, and a slew of overseas events threw a bunch of curveballs at the economy: Japan’s earthquake and tsunami, Thailand’s floods, the Arab spring, and the escalation of the eurozone debt crisis. No one is expected to forecast these events perfectly.  Nevertheless, the most accurate forecasters are always praised for having foresight worthy of Nostradamus.

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