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Experts are increasingly pointing to 2013–not 2012–as the new year of doom. Peter Orszag warned of a gathering storm of expiring tax cuts, mandatory spending cuts, and another debt ceiling fight headed for the U.S.Meanwhile, WPP chief Martin Sorrell also said the U.S. should watch for 2013.
Jim Rogers is another big name in the 2013-is-the-end-of-the-world camp.
In an interview with the Economic Times, Rogers said the U.S. economy is only being “juiced up” before the elections and the the armageddon in Europe has just been postponed:
“Of course you have the American government spending staggering amounts of money right now, printing a lot of money and getting ready for the election. It happens every four years in America. They do their best to get the economy juiced up so they can win the election.
…They [ECB] have postponed Armageddon, I am glad you put it that way. We discussed before here that 2013 and 2014 are what I am most worried about because this year everybody is trying to just get through the next election. There are 40 elections in 2012. Everybody is going to do their best to get us through the election. Watch out for 2013.”