George Soros and Philip Diehl on the World Economy
George Soros has said that the world may be a very different place within the next decade. Philip Diehl who is president of U.S. Money Reserve agrees with him. He gives his reasons on a recent podcast on Enterprise Radio. Philip Diehl has a well-rounded career in government where he ended his career as the Director of the United States Mint before returning to Texas to start the company.
During the podcast, Philip says demand for gold will continue to grow over the next decade, and he recommends buying gold coins as a means to enter the market. He also says that the value of the U.S. dollar will continue to fall. Furthermore, he warns that investors must watch for political unrest around the world. Finally, he urges investors to watch actions by Central Banks.
The United States economy is expected to remain the largest during the next decade, according to Bloomberg. By 2030, they expect the gross domestic product to reach $24.3 trillion dollars. Weakness is likely to continue in the dollar as more foreign investors diversify their portfolios. Look for job growth to be very slow.
Many experts expect that China will be the second largest economy in the world at $22.2 trillion dollars. As the economy turn from production to services, individuals in China will have more money to spend. China will experience a scarcity in natural resources, especially water.
The third largest economy in the world over the next decade will be India. This country could have the fastest growing economy over the next decade. India’s low capita income will help the country diversify even further. In order to be successful, the country will need to develop a stronger infrastructure. They will also need to improve education. Finally, the country will need to keep a healthy balance between manufacturing and the service sector.
With all the uncertainty in the world, Philip Diehl recommends that investors buy gold. Regardless of what happens, gold is likely to grow in value making it a great investment. The easiest way to buy gold is to buy gold coins. Philip Diehl says that when buying these coins, it is very important to buy from a company that offers great customer service.
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