Headed For a Financial Apocalypse
By Adam Moore
If things seem bad this year financially in the world, that’s because they are. Thanks to the new global economy the whole world gets to share the mistakes of other countries. From the European debt crisis to Natural disasters the world economy is in trouble.
The first indicator of global economic trouble is the deterioration of the European Debt Crisis. Most analysts will tell you that this presents the biggest threat to our economy in 2012. Harry Clark of Clark Capital Management feels it’s inevitable that the European economies are going to blow up, which could cause mass failure in United States retail banks.
Another indicator of major financial doom in 2012 are oil prices. We’ve all seen the prices spike for seemingly any reason at any moment, and with Europe and the U.S. squeezing crude shipments with deepened sanctions on Iran, we could be looking at a 40 dollar per barrel rise in oil prices by the end of the year, according to Merrill Lynch. We also should be aware of the impending Israel Iran conflict. If Israel is to bomb Iran it would cause oil prices to escalate at a much faster pace.
Here’s something most people don’t know, China is in a huge housing bubble much bigger than the one in the United States. With China being the second largest economy in the world and construction accounting for 70 percent of that economy, the whole world would be affected.