Shift of Wealth to Asia in Full Swing

The Weiss Money and Markets team last year predicted that there would be a massive shift of world wealth from Western countries to Asia because so many Western countries are debt-ridden.  That shift is, in fact, happening, according to the Weiss research team.  This team has been right before in predicting recessions and bear markets. Here are a few of the team’s predictions for the remainder of 2010:

1.  The Obama administration will be unable to get another stimulus passed and will not be able to prevent a double-dip recession.

2.  The only deficit fighting that will be done will be by the Federal Reserve and the European Central Banks, and they will be focused on printing more money.

3.  The sovereign debt crisis will worsen and engulf first Eastern Europe, then Western Europe and the U.K., and also the U.S.

4.  Ultimately the U.S. debt problem will become worse than it has been in Greece. It will ultimately reach 400% of GDP.  This year the U.S. debt will be at 90% of GDP and next year it will be at 95% of GDP.

5.  The growth in China is now at least 4 times larger than it is in the U.S. or Western Europe.  China’s debt load is small and its reserves are huge.