In response to the thread on the last decade to nowhere for the S&P. Stock markets and currencies seem to be pricing in a global recession at the moment, although you might infer that we're just facing a normal cyclical event with the US financial and housing woes and deficits just the start of a broader (but regular) downturn in the World's economy. A lot has been said of decoupling and, although there may be some merit to this argument with infrastructure being such an important part of emerging countries' economic growth, there is strong evidence that performance in the US still greatly affects the wider picture. The implications for the next ten year are very difficult to accurately forecast but I think it would be interesting to see what beliefs are shared and why. Also the opposite ends of the spectrum can be entertaining. So, to start off, I see the emerging economies of China, Brazil, India, Russia (and their satellites) as having a generally increasing influence on Global economies and decision making. I appreciate this is old, old news but I believe this to be the strongest case for the next decade. I also think that the old economies of Europe and the US to have a sustainable level of growth that will be on a par to historical rates, although lower than the newer economies. There will be some industries which face too many problems to survive in their current forms (auto) but others which will emerge or continue to prosper (services). Inflation and commodities will both have a greater influence on political and economic decision making than they have over the last 10 years, and research into alternative ways of powering and feeding the general populace (including the resulting deforestation, water shortages and species' extinction) will take the place of Global Warming as the next intellectual debate. Elvis will not return. This is painting with a very broad brushstroke but it is for a ten year period so I think it is allowed in a debate.