HALF MOON BAY, Calif. -- During a presentation at the Industry Strategy Symposium (ISS) here, Nariman Behravesh, chief economist and executive vICe president of Global Insight Inc. (Waltham, Mass.), provided his top 10 predICtions for the economy in 2009. Global Insight provides economIC and financial forecasts on a number of sectors. Behravesh also provided a gloomy outlook for semIConductors. In 2009, the IC market will be ''horrifIC'' and will go into negative numbers, he said. In 2010, ''we could move into positive territory, but it could be sluggish.'' What are the implICations on hi-tech in general? ''This (downturn) will be worse than 2001,'' he said. "There will be a recovery. Plan for a recovery in 2010.'' But it won't be 2011 until he sees a strong recovery. Meanwhile, here are Behravesh's top 10 predICtions for the economy in 2009: 1. The U.S. recession will be one of the deepest -- if not deepest -- in the postwar period. ''This is going to be bad. There is no way to sugarcoat it.'' 2. Also one of the worst downturns for Europe and Japan in many decades. ''We revised Germany down to 2.2 (in terms of GDP). For Japan, the downturn will be worse than during the Asia Crisis.'' 3. Growth in emerging markets will decelerate dramatICally. ''Collapsing commodity prICes are hurting many emerging economies, including Russia, Venezuela, Iran and South AfrICa -- will the Gulf states be next? For many emerging markets, 2009 growth will be less than half the rate in 2007.'' 4. Central banks will keep cutting rates. ''The race to zero is on.'' 5. More fiscal stimulus in the pipeline—some of it massive. ''The first thing to do is kICk start growth. The dirty little secret is taxes are going up (in the U.S.).'' 6. Commodity prICes will remain at depressed levels for much of year. ''Oil is at $38 and some change.'' 7. Inflationary fears will be replaced by concerns about deflation. ''Core inflation will fall to around 0.5 percent.'' 8. Global imbalances will improve markedly over the next couple of years. ''The U.S. current account defICit in 2009 will be about 40 percent of the level in 2007.'' 9. The dollar will remain relatively strong as long as the financial crisis continues. ''The best looking horse in the glue factory.'' 10. The single biggest risk facing the U.S. and global economies is a timid polICy response.