Oil at $US100 a barrel, a drought-driven outbreak of global inflation and the collapse of luxury goods brands. The view of Steen Jakobsen, chief economist at Denmark's Saxo Bank, who at this time every year comes up with 10 "outrageous predictions" for the following year.
His forecasts for 2016 are a little bit cheeky, quite a bit contrarian and definitely outrageous.But in the crazy post-global financial crisis world of negative interest rates, $US40 a barrel oil, and flat-wage submission, anything with a tinge of risk is going to excite.
For instance, he sees the Organisation for Petroleum Exporting Countries' "supply-and-rule strategy" finally triggering a 150 per cent surge in the price of liquid gold when members agree a production cut.
"The long-awaited sign of an accelerated slowdown in non-OPEC production finally begins to flicker," Jakobsen says. "Suitably buoyed, OPEC catches the market on the hop with a downward adjustment in output.
If Steen is right and SaxoBank is one of the best capitalized banks as a Danish/ Scandanavian bank, next to the overcapitalized Australian banks, POO of $100 should see APA at $10-11 even perhaps more IMHO but pls DYOR
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