I have highlighted the top ten forecasts from The Futurist magazine below. More details, references, and additional information are available from Outlook 2008, an annual collection of “the most thought-provoking ideas and forecasts” appearing in the magazine.

While I generally measure my investment time horizon in days, it always pays to be thinking several years ahead.

1. The world will have a billion millionaires by 2025. Globalization and technological innovation are driving this increased prosperity. But challenges to prosperity will also become more acute, such as water shortages that will affect two-thirds of world population by 2025.
   
   
2. Fashion will go wired as technologies and tastes converge to revolutionize the textile industry. Researchers in smart fabrics and intelligent textiles (SFIT) are working with the fashion industry to bring us color-changing or perfume-emitting jeans, wristwatches that work as digital wallets, and running shoes like the Nike +iPod that watch where you're going (possibly allowing others to do the same). Powering these gizmos remains a key obstacle. But industry watchers estimate that a $400 million market for SFIT is already in place and predict that smart fabrics could revitalize the U.S. and European textile industry.
   
   
3. The threat of another cold war with China, Russia, or both could replace terrorism as the chief foreign-policy concern of the United States. Scenarios for what a war with China or Russia would look like make the clashes and wars in which the United States is now involved seem insignificant. The power of radical jihadists is trivial compared with Soviet missile capabilities, for instance.