Saxo Bank Unveils "Outrageous" Predictions for 2024
Saxo Bank, known for its annual list of "outrageous" predictions, has offered a tongue-in-cheek glimpse into a future that, while unlikely, could profoundly impact global markets. The Copenhagen-based investment bank explores potential scenarios in a "dangerously unpredictable future," including unexpected technological advancements.
US Introduces Tax-Free Government Bonds: Amidst economic challenges and social unrest, Saxo envisions the US ending capitalism as we know it by issuing tax-free government bonds to stimulate fiscal spending and stabilise the economy.
Robert F. Kennedy Jr. Wins 2024 US Presidential Election: A surprising turn of events sees a third-party candidate, Robert F. Kennedy Jr., winning the US presidential election in 2024, signalling a shift away from plutocracy and a demand for reduced inequality and an end to perpetual wars.
Global Health Crisis Triggered by Obesity Drugs: Saxo predicts a significant health crisis arising from the unintended consequences of obesity drugs, causing people to stop exercising and increase their consumption of junk food. This crisis is expected to boost demand for processed foods, benefiting companies like McDonald's and Coca-Cola.
EU Introduces Wealth Tax, Luxury Sector Plunges: The European Union implements a 2% wealth tax, leading to a sharp decline in the luxury sector. Companies like LVMH and Porsche are expected to see a 40% drop in stock prices.
Generative AI Deepfake Sparks National Security Crisis: The misuse of generative artificial intelligence in a high-profile deepfake heist against a senior official creates a national security crisis. Governments are forced to introduce new laws regulating the spread of public news by a select few entities.
Deficit Countries Form' Rome Club' for Trade Negotiations: In response to a severe global recession, countries with large budget deficits form a 'Rome Club' to negotiate trade terms with surplus countries. Saxo predicts a favourable environment for gold, silver, and cryptocurrencies.
Japan Experiences 7% GDP Growth, Abandons Yield Curve Control: Japan sees an unexpected economic surge with a 7% GDP growth rate, prompting the Bank of Japan to abandon yield curve control. The Japanese yen strengthens as local investors shift their money into domestic assets.
Saudi Arabia Acquires Champions League Franchise with $150 Oil: Saxo envisions a scenario where soaring crude oil prices, reaching $150 per barrel, allow Saudi Arabia to acquire the Champions League franchise. The oil-rich kingdom transformed the prestigious football tournament into a global competition backed by FIFA, with games played in Riyadh.*
While these predictions are meant to be provocative and unlikely, they reflect the uncertainties that could shape the global landscape in the years to come.