October 31, 2012 at 12:48 pm #57128
What will Spain’s economy look like in the year 2015. The year 2015 is just over two years away now but Spain in 2015 will be unrecognisable from what it is today. Although making predictions is frought with danger I am reasonably confident of the following predictions in 2015:
Spain’s national debt will reach one trillion Euros. The national debt at present stands at nearly 614 billion euros. Spain’s official unemployment rate will reach 50%. It currently stands at 25%. The Spanish economy will be contracting by an annual rate of 5%.
The euro is far too strong a currency and will not reflect the disastrous economic situation in Spain. The euro is in reality the Deutchmark in another name and reflects the industrial and economic power of Germany but Spain doesn’t have much of an industrial base and staying in the euro will no longer be an option. Spain needs a weaker currency to reflect its weakening economy and it will have no choice but to drop out of the Euro and adopt the Peseta. This will lead to an overnight devaluation of around 50% with further falls certain in the future. The devaluation will cause inflation to rise steeply to double digits and interest rates will rise sharply to control the inflation. Interest rates will rise to as high as 10%.
The number of unsold properties in Spain currently stands at around two million but this figure will rise to five million in 2015. Youth unemployment stands at 50% and this will rise to 80% in 2015.
There are already many ghost urbanisations in Spain and the number of these ghost urbanisations will increase dramatically in 2015. Retail sales will collapse, at least two major Spanish banks will go under and will not be bailed out. Rising interest rates and rising unemployment will cause house prices to fall by an astonishing 50%. The number of bankruptcies will surge to an all-time high and the suicide rate will go through the roof. People’s standard of living will collapse. Many British expats who managed to hold on because of low euro interest rates will have no choice but to cut their losses and leave Spain altogether.
October 31, 2012 at 3:40 pm #113204
You truly are a talented person Jake. Able to predict the future with such accuracy like no other human can. No other financial analyst paid zillions to view the long term. What’s your secret? Are you in fact Nostradamus reincarnated. 😕 Or just a complete idiot punting gloom and doom for it’s own sake?
November 1, 2012 at 6:39 am #113208
Normally I would but the rubbish he writes is just too silly and without any rational foundation. It’s similar to me saying on Tuesday next week the world is going to end. 😥
November 7, 2012 at 10:50 am #113286
Jakesuper, why do you only post content from that website that you have a link to in your sig.?
Are you Bruno?
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