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http://newsfromrussia.com/world/americas/25-12-2007/103144-economy-0
New Year 2008 may destroy USA’s struggling economy
Front page / World / Americas
25.12.2007 Source: Pravda.Ru
A forecast made by Denmark-based Saxo Bank, chaos will take a
grip on the world in 2008. Oil prices will skyrocket to 175 dollars per
barrel, the Chinese market will collapse by 40 percent, whereas the U.S.
will suffer a 25-percent setback. All this will happen because of the
mortgage crisis in the USA which already slows down the U.S. economy.
High oil prices can bring only good to Russia, though. On the
other hand, even if the above-mentioned forecast comes true, Russia will
face serious problems in its economy too. It is worthy of note that the
majority of Saxo Bank’s previous forecasts for 2007 have proved to be
true to fact.
On New Year’s Eve most people recollect the outgoing year and
hope for the best. However, Saxo Bank experts seem to be an exception
from this nice tradition. David Karsbol, the head of market strategy for
the bank, said that the forecast had not been made to intimidate people.
“It gives a reason to think about the future of the market,” he said.
Saxo Bank experts believe that oil prices will hit the level of
175 dollars per barrel in 2008, whereas grain prices will double. The
U.S. and the Chinese markets will collapse by 25 and 40 percent
respectively by the end of the summer of 2008. Every third of ten U.S.
large building companies will go bankrupt. The British economy will also
start declining.
The bank has its forecast on the new U.S. president too. The
bank predicts that Ron Paul, the Texan Republican, will take the
office in 2008.
On the other hand, if the U.S. economy slows downs its
development as predicted, it would mean the decrease of the oil
consumption and the oil price.
Oil prices much depend on the political constituent. If the USA
launches a military action against Iran, oil prices will most likely
jump up to 250 dollars per barrel according to a recent forecast by
Standard & Poor’s.
The dark forecast from Saxo Bank does not mention Russia. There
was no report issued in 2007 outlining apocalyptic perspectives for the
Russian economy. The ongoing economic rise and the stable ruble protect
Russia from financial shocks.
Most likely, Russia’s economy will not be subjected to
considerable changes or fluctuations during the forthcoming year either.
Nevertheless, Russia is a part of the global financial system, which
means that the country will obviously suffer from a possible economic
collapse that may occur in another part of the world.
Link to page-2...
http://newsfromrussia.com/world/americas/25-12-2007/103144-economy-0
Russian specialists say, though, that the nation’s economy will continue
to endure unpleasant surprises due to the growing inflation rate. They
say that prices in Russia will grow by ten percent in 2008 against seven
percent as predicted by governmental officials.
New Year 2008 may destroy USA’s struggling economy
BREAKING NEWS
Benazir Bhutto dies awful death after suicide attack
Mortgage crisis in USA can be replaced with credit card crisis in 2008
Russia launches GLONASS satellites into orbit
Source: agencies
Translated by Dmitry Sudakov -- Pravda.ru
Speak your mind on Pravda.ru fo
On the other hand, if the U.S. economy slows downs its
development as predicted, it would mean the decrease of the oil
consumption and the oil price.
Oil prices much depend on the political constituent. If the USA
launches a military action against Iran, oil prices will most likely
jump up to 250 dollars per barrel according to a recent forecast by
Standard & Poor’s.
The dark forecast from Saxo Bank does not mention Russia. There
was no report issued in 2007 outlining apocalyptic perspectives for the
Russian economy. The ongoing economic rise and the stable ruble protect
Russia from financial shocks.
Most likely, Russia’s economy will not be subjected to
considerable changes or fluctuations during the forthcoming year either.
Nevertheless, Russia is a part of the global financial system, which
means that the country will obviously suffer from a possible economic
collapse that may occur in another part of the world.
Link to page-2...
http://newsfromrussia.com/world/americas/25-12-2007/103144-economy-0
Russian specialists say, though, that the nation’s economy will continue
to endure unpleasant surprises due to the growing inflation rate. They
say that prices in Russia will grow by ten percent in 2008 against seven
percent as predicted by governmental officials.
New Year 2008 may destroy USA’s struggling economy
BREAKING NEWS
Benazir Bhutto dies awful death after suicide attack
Mortgage crisis in USA can be replaced with credit card crisis in 2008
Russia launches GLONASS satellites into orbit
Source: agencies
Translated by Dmitry Sudakov -- Pravda.ru
Speak your mind on Pravda.ru fo
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