Doomsday predictions and UFO sightings: The connection between Harold Camping and the Amazing Kreskin.
Although Kreskin has openly nullified the occurrence of the Doomsday predictions by Camping, a brief scan of the mentalist’s own historical records reveals a unique connection between the two.IBTIMES/YOUTUBE

Predictions echoed New Year and on top of the list is Nouriel Roubini, star economist from the New York University, saying that recession will hit this year at 60% probability.

Possible reasons pointed out are government severity and budget cutting including the eurozone chaos.

"Investors should expect another turbulent year of market volatility during 2012 from a mix of heightened policy risk, political uncertainty, low growth and low interest rates, all of which will translate into modest investment returns," according to BofA Merrill Lynch Global Research.

 A global deleveraging from the huge debt hangover was foreseen by Seattle's Russell Investments. Additionally, lower returns, high unemployment, higher volatility, and lower standards of living are expected.

The Atlantic magazine released its wild predictions for 2012. These include Microsoft buying Nokia to develop a smartphone better compared to Apple's iPhone; striking China slowdown; Bank of America's remarkable turnaround; and the economy's revival.

Despite all those predictions, we realize a few real issues that would eventually affect things in 2012.

Among the pressing concerns focus on Iran and North Korea deemed to rock the world with something unfavorable. The former is planning to discontinue the industrial world's oil supply at the Strait of Hormuz. The latter, on the other hand, is prone to irritation, possesses nuclear weapons, in the middle of changing leadership and positioned at the center of Asia's economy.

Back to the U.S., where the economy will continue to face a big hollow of demand resulted from the heavy recession. Politics have created a hopeful motivation, something that could have opened several jobs and molded us as better competitors in the new generation, impossible.

In this year, the stimulus Obama had made will be receding. Nonstop cutbacks of government jobs will put more pressure on the plan of recovery of the country's economy.

The new chapter will deliver prolonged desolation to millions of Americans. It will worsen situations of jobless individuals including people facing housing troubles.