Good Riddance to 2008

Characteristically, a very difficult year has finished on two low points.

Firstly, at midday, the FTSE closed at 4,434 points, compared with 6,457 points a year earlier. This marked a record fall of 31.3% and reflected what the BBC called the "financial brutality" of the previous 12 months. Everyone has rushed to get their tuppence predictions in for what next year holds. Of course, no one knows but the universal feeling is that things are about to get a whole lot worse.

Seventy years ago, George Orwell wrote "Coming Up for Air" and accurately predicted not just World War II but the entire transformation of the society that succeeded the war. As I've mentioned in previous blogs, predictions do occassionally hit the mark but the vast majority of forecasts should be treated with scepticism, especially from the "experts". Remember, no one holds the proverbial crystal ball.

Secondly, Israel is again at war and so far it largely appears to be a repeat of the conflict against Hezbollah in 2006. Once more, we see Israel suffering continous provocation from a neighbouring terrorist organisation, Israel responding with its military might against an enemy that hides amongst the civilian population, Israel criticised worldwide for its "disproportionate" response and an outbreak of sympathy for Hamas. Meanwhile, yet again, for all its technological know-how and intelligence, Israel fails to quell the rocket attacks and hesitates over whether to send in ground forces. If 2006 plays itself out again, then Israel will fail to stop the rockets, fail to remove Hamas and hand them a public relations victory. I can only hope that Israel has learnt some lessons from two years ago.

Despite all the indications, I truly hope 2009 proves to be a much more favourable year for everyone.