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On New Year's day in 1977, Lake Superior State University in Michigan released its first "List of Words Banished from the Queen's English for Misuse, Overuse and General Uselessness". Every year since then, it has taken nominations for words and phrases we should quit using in the coming year. Last year's list included such anti-favorites as "viral," "epic" and "refudiate."

In Washington, D.C., pedestrians nominated "ping me", "literally" used incorrectly, "bro," "hater," "hating," "totes" and "amazing."

As the new year gets under way, we take a quick temperature check on some key areas to see what the prognosis might be. The topics: politics — domestic and global — and economics.

What's the economic prognosis for 2012?

"It's kind of a meh, it's a B minus," says Annie Lowrey, an Economic Policy Reporter for The New York Times. "It's not going to be very good, but it's also not going to be very bad."

Lowrey says that most of the trends we saw at the end of 2011 will continue into 2012. The unemployment rate is high, but improving. And economists are excited about the housing market, because the low cost of housing has started a house-building mini-boom.

The world will see big political changes with leadership shifts in China, Mexico, Russia, Europe, Egypt and particularly in the Middle East during 2012, according to David Rothkopf, a contributor to Foreign Policy Magazine.

"We're halfway through the initial wave of these [Middle Eastern] revolutions," says Rothkopf, adding that much more change is to come.

But it is possible that one of the biggest political changes won't happen in a physical location, but on the Internet. Rothkopf thinks that we could see a big escalation of cyber wars between nations.

There's a handful of people — roughly 10 percent of the global population — that has something in common.

Many mysteries and misconceptions surround this group. Its members have been called artistically gifted and self-reliant, but also untrustworthy and insincere. Most recently, several of them have been called the president of the United States.

The new Broadway production of the musical On a Clear Day You Can See Forever has been billed as a "reincarnation" rather than a revival. The premise is the same as before: A psychiatrist, Mark Bruckner, falls in love with the "past life" of one of his hypnotized patients. But this version replaces Daisy, the charming young patient first played in the 1960s by Barbara Harris, with Davey — a gay man harboring a female alter ego deep in his subconscious.

About 430 years ago, Pope Gregory XIII gave the West a calendar which divided 365 days into what was to be called a "year." With 12 months and 7 days bundled into so-called "weeks," the Gregorian calendar was hailed as a marvel of medieval accuracy. We use it today, despite its occasional messiness — drifting days, leap years and 28-day months.