From Komfie Manalo, Opalesque Asia:
Steen Jakobsen, Chief Economist at Saxo Bank, a global provider of Forex trading, shared his "outrageous" predictions for 2013 and beyond for commodities, currencies and global financial markets as a whole.
In his conversation with Sona Blessing on Opalesque Radio, Jakobsen predicted that the DAX would plunge 33% this year. The DAX is a blue chip stock market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange.
"The expectations are at their highest this year," Jakobsen said. In fact, the expectations are the highest in his career, he added. Prior to Saxo Bank, Jakobsen was Chief Investment Officer for Limus Capital Partners. He has more than 20 years of experience within the fields of proprietary trading and alternative investment.
His 10 outrageous predictions include: world crude prices going down to $50 per barrel "as the U.S. becomes more self sufficient in energy by 2015." He added, that by 2015, they (the U.S.) will meet 50% of their fuel requirements from alternative energy sources. "The deadline of a high mileage to the gallon is at 2015 and it’s not going to change," he continued. "In 2012, oil production in the U.S. was the highest since the 1970s in terms of domestic production of oil itself." He added that the U.S. is also developing new technologies......................
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