The U.S. economy continues to expand in 2012 with GDP growth likely over 2% for the first quarter and the rest of the year. Current expansion is self sustaining but lacks a clear catalyst. Global growth remains positive but bifurcated, aided by growth in the emerging markets. China will likely execute another “soft landing”. Europe remains the biggest concern for 2012. The austerity measures are pushing the Eurozone into a recession, need to focus on growth going forward.