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Showing posts from October, 2011

2012-2060:A World Timeline!

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2012
Economic growth remains sluggish in many markets
Although the worst of the economic downturn has passed by now, genuine growth and recovery remains sluggish - especially in countries like the UK, where the fall in private sector debt ratios and rebuilding of savings ratios lasts well into the second half of this decade. Grinding slow growth - as low as 1-1.5% in Europe, the US and Japan - persists for several years, which still feels like a recession to most of the public, and does little to improve levels of employment. Vast interest payments for Government debt force a reduction in social and defence spending and leads to higher taxes, which also harms growth. As if this wasn't bad enough, the baby boomers are now entering their retirement years. The younger generations are faced with a huge burden of debt. With America nearly bankrupt, a clear shift in the balance of power is taking place from West to East. If the 19th century was Europe's century, and the 20th century …