The Saxo Bank based in Denmark has issued a Bearish Assessment for 2008, the silver lining is a Paul Presidency
Saxo Bank experts believe that oil prices will hit the level of 175 dollars per barrel in 2008, whereas grain prices will double. The U.S. and the Chinese markets will collapse by 25 and 40 percent respectively by the end of the summer of 2008. Every third of ten U.S. large building companies will go bankrupt. The British economy will also start declining.
The bank has its forecast on the new U.S. president too. The bank predicts that Ron Paul, the Texan Republican, will take the office in 2008.