As the world is quickly evolving, changes have been made to accommodate the effects pandemics have had on the entire population. However, changes don’t end there as the world is entering a new era of technology, mobility, and connectedness. One of the leading minds in understanding these new changes is Mish Shedlock, who has been forecasting for 2024.
Shedlock states that U.S. GDP growth will remain low through 2024 and not exceed 2 to 3 percent once it stabilizes. He also predicts a notably weak job market in the foreseeable future, with no discernible net gain in jobs returning until 2024. The aging population may cause problems in areas such as healthcare and retirement – areas that will need to be addressed in the nearest future.
Shedlock believes that inflation may remain low for most people, but core inflation will start to rise during the next four years. Prices will be impacted by the rising cost of living, as well as the appreciation of certain goods and services. He believes that the debt and deficit levels will remain high and that it will be very difficult to contain them.
When it comes to technology, Shedlock sees a trend towards 5G networks, electric vehicles, and autonomous drones, which will become increasingly available in the US during the next four years. Robotics will become more commonplace, allowing factories to become more efficient and manufacturing to occur faster.
Shedlock predicts that the current governance system will become more corrupt and criminal activities even more prevalent, as the financial division in the US becomes even greater. He sees a lack of political leadership due to the rising populism, and notes that the focus is more on short-term projects and actions for immediate returns, rather than focused on long-term solutions.
The global economy as a whole, according to Shedlock, is largely expected to follow the same trends. Developing countries may see a boost in their GDPs due to their relative availability for investor funds and increased efforts to use marketing tactics and education to increase the economies into the future.
Mish Shedlock’s predictions present a portrait of a world in flux, with new technologies making their way into an uncertain future. Although it is a concerning picture, the potential and opportunities for those with the knowledge to capitalize on the changing climate remain highly attractive. Now is the time to stay informed and look ahead to prepare for the changes that 2024 will bring.