The 2012 election is very important for its meaning. The meaning of an Obama re-election is that America must spiral down much further, that our social, political, cultural, and financial bottom is out to near the end of the decade before the beginnings of any renewal. My prediction is that Obama will win re-election in 2012, not that I like it for what it tells me but because the second wave of the financial crisis is nearing its start. We have not yet suffered enough to burn away what got us into this mess. Obama will probably successfully again tap the old fears and illusions, but it will all be burnt away after hitting bottom later in this decade.