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The Economy : What can we look forward to in 2012 ?
So That’s another year gone! A year ago we were brave enough to make some predictions about what we thought might happen in 2011 with the promise to revisit them to see how right or wrong we were.
We said about 2011:
• Interest rates will remain near zero for a while yet but as 2011 progresses the threat of inflation will become very real and interest rates will rise.
• The US dollar will continue to weaken and Gold will rise further towards $2,000 an ounce.
• Spain and Portugal will both need some form of bailout as the sovereign debt crisis continues.
• Stock markets in the UK, USA and Europe will suffer substantial falls during 2011.
• The pound will continue to strengthen against the euro, perhaps reaching as high as 1.30.
• The UK economy will continue to recover but the worst winter in living memory will be blamed for lower economic growth than originally expected.
• The referendum on changing the electoral system in the UK will result in a “no” vote. Great strains on the coalition government will follow.
• Vince Cable will be “shuffled” from the position of Business Secretary, and will be advised to buy a new hat.
• The Spanish air traffic controllers (the French as well) will cause further chaos.
• As the austerity measures bite further in the UK there will be even more civil unrest.
Well I think we would give ourselves about seven out of nine. But what about our thoughts about the year ahead with a promise once again to see how we did in a year’s time.
So for 2012 we think:
• Interest rates will remain near zero and all the way through 2012 and indeed into 2013.
• The US dollar will weaken further and Gold will rise beyond $2,000 an ounce after a correction in early 2012.
• The Sovereign debt crisis in Europe will deepen further. Germany will allow a wider role for the European Central Bank but it will not be enough to prevent the survival of the Euro in its current form being seriously threatened.
• Global Stock markets will suffer substantial falls during the first half of 2012, recovering only if the Eurozone and US debt crises are contained and addressed. A real risk of a meltdown exists if Governments continue to dither.
• The pound will strengthen against the euro, to beyond 1.20.
• The UK economy will slow to a near standstill or worse with economic forces outside of the UK getting the blame.
• As austerity measures bite further in Europe there will be strikes and civil unrest.
• Austerity measures introduced by the new Spanish Government will cause unemployment to rise towards 25%.
• There will be military intervention in Iran involving Israel and the USA.
As a business it has been another good year for Premier Pension Solutions SL and we are grateful to those who have supported us with their business. We look forward to further exciting times in the pensions’ world during 2012 and wish all our clients and readers a Happy Christmas and New Year.
More Blogs By Stephen Ward BA (Econ), ACII, APMI, APFS, AIFP
- QROPS – HMRC Introduces changes that create havoc in the market place
- Beyond the tipping point - where next ?
- New Zealand QROPS - good news for all concerned
- Pensions and Politicians
- Changes re New Zealand QROPS - Things are becoming clearer
- QROPS Jurisdictions in Focus : A Round-Up
- QROPS Jurisdiction in Focus : Isle of Man
- QROPS for the UK Expat in Spain
- Could this happen to your UK pension fund?
- Maximising the outcome from your UK Pension fund
- Should I Take Out Life Insurance ?
- Benefits in Spain and 'La Ley de Dependencia'
- Applying for an EHIC Card as a Spanish Resident
- Can I claim UK benefits if I am widowed in Spain ?
- Glossary of useful Legal, Financial & Procedural Phrases
- SIP Cards and Means Tested Prescriptions in Spain
- Should I Pay Voluntary National Insurance Contributions to the UK ?
- Transfering your UK National Insurance Contributions to Spain
- Repatriation : Moving Back to the UK
- Common-Law Partnerships In Spain - 'Pareja de Hecho'
- Can I claim a UK Disability allowance in Spain ?
- Spanish 'Large Family' Discount Card
Blogs From Premier Pension Solutions SL
- QROPS – All Change From April 2012
- QROPS : Stop press - major changes on their way!
- Do you have a UK pension fund? How secure is it?
- Quantitative Easing - good or bad (or both) for your UK Pension Fund?
- Did Your Pension Fund Fall By 15 Percent in August ?
- New Zealand QROPS : Only Available For A Further 12 Months ?
- QROPS Jurisdictions in Focus : New Zealand
- QROPS Jurisdiction in Focus : Guernsey
- QROPS - the realities of giving and receiving advice
- QROPs - Choice of adviser and choice of jurisdiction
- Why not spring clean your pension ?
- New Zealand QROPS - some of our FAQ's
- Access Your UK Pension Fund Before It Falls In Value !