It's the first morning back at work. What has 2016 to offer? A bumpy ride, at best.
UK stock markets were down 5% last year. Expect the same again: commodity prices are not going to recover.
US markets would, as the FT points out this morning, have been in slump territory last year but for a few tech stocks.
Retailers had a poor Christmas.
China and the emerging markets remain in the doldrums.
UK wages will have their worst decade for almost a century.
UK investment is falling because of European uncertainties.
The government will tear itself apart over the EU referendum.
There will, of course, be a lot of cuts in government spending.
OBR forecasts on the deficit will be massively wide of the mark.
And, OK, fuel prices have dropped.
If you can make a pretty picture out of that, well done. I can't.
All that I can hope is that this crisis does not go to waste.
Surely, this time it will have to be different?