2024 will be a very busy year economically and politically. The most important banks around the world are expecting an economic slowdown. Global GDP growth is estimated at 2.6%, which represents a slowdown of 0.5%.
In addition, nearly 70 countries will hold elections. All this context is used by Saxo Banks economists who present their traditional black swans or extreme predictions for the coming year. Predictions go from the end of capitalism to oil once again hovering around US$150 per barrel.
Saudi Arabia, a football power
The price of oil, at US$150 per barrel, will encourage this country to gain strength in sports thanks to investment in entertainment. From Saxo Banks, predicted that the crown prince Mohammed Bin Salman will create a global Champions League, after getting the UEFA Champions League. and
The world may be involved in a health crisis due to the large number of patients who decide to take the anti-obesity drug GLP-1. People stop practicing physical activity and abandon their diet, thinking that this “miracle” drug would help them with their health problems.
Capitalism is over in the US.
The budget deficit that rose above 10% of GDP led the government to encourage the demand for treasury bonds in this country. The focus is on the stock market, where the ‘Magnificent Seven’ now are twelve, thanks to an unnoticed slowdown and government support programs aimed at lenders and homeowners.
Generative AI deep fake causes national security crisis
Generative AI has become a threat to national security. The enthusiasm for artificial intelligence began to collapse as laws against this technology were tightened.
“The Club of Rome”
To resolve the differences in the global commercial and financial system, the countries with the greater deficit decided to meet to negotiate new global terms of trade. Restarting the economic model has been a painful step for many countries.
Robert F. Kennedy Jr won the US election.
People are not happy with the government of Joe Biden and especially with the behavior of Donald Trump, both protagonists of scandals in the US. On November 5, Robert F. Kennedy Jr was established as the new leader of the American people.
Japan’s 7% GDP growth rate forced the abandonment of yield curve control
Japan’s prime minister has implemented a series of populist policies to boost domestic demand. Once the GDP growth rate reached 7%forced the Bank of Japan to abandon its yield curve control policy.
Crushed by luxury demand
While people know how little European billionaires pay, the European Union Commission is implementing a 2% wealth tax. This created chaos in the luxury industry of the old continent. Lvmh fell by 40%.