Wednesday, Nov 18, 2009

Global Collapse

The Telegraph: Société Générale tells clients how to prepare for 'global collapse'

Société Générale has advised clients to be ready for a possible "global economic collapse" over the next two years, mapping a strategy of defensive investments to avoid wealth destruction.

Posted by devo @ 10:52 PM (3541 views)
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12 Comments

1. Tpbeta said...

Wow - bear food caviar

Wednesday, November 18, 2009 11:05PM Report Comment
 

2. devo said...

QE has nothing to do with anything, has no particular impact neither good nor bad.

Mark Wadsworth, 18th November 2009

I work in the city and I couldn't give a toss about QE. In fact, I hardly ever come across anyone who cares about QE.

flashman, 1st November 2009

Wednesday, November 18, 2009 11:08PM Report Comment
 

3. devo said...

QE = confidence, or more accurately, Dutch courage.

Wednesday, November 18, 2009 11:14PM Report Comment
 

4. tpbeta said...

bear food caviar

Wednesday, November 18, 2009 11:37PM Report Comment
 

5. devo said...

3. tpbeta said... bear food caviar

bears and bulls alike will cry out for mercy

Wednesday, November 18, 2009 11:42PM Report Comment
 

6. mander said...

Good find devo,

Yes we may live an engineered colapse for the introduction of the new world currency.

Wednesday, November 18, 2009 11:52PM Report Comment
 

7. Crunchy said...

http://georgewashington2.blogspot.com/2009/10/will-basket-of-currencies-replace.html

Sadam was tired of petrol dollars also.

Thursday, November 19, 2009 12:36AM Report Comment
 

8. will said...

In which banks should we trust our cash?

Thursday, November 19, 2009 01:43AM Report Comment
 

9. hpwatcher said...

I work in the city and I couldn't give a toss about QE. In fact, I hardly ever come across anyone who cares about QE.

flashman, 1st November 2009


Flashman left this website with parting shots about a full recovery. I thought it hogwash.

QE cannot simply be stopped now. It's like a cancer, once it starts, it continues until the host is destroyed.

Thursday, November 19, 2009 06:35AM Report Comment
 

10. mountain goat said...

Well I hope Flashman will be back, he was always prepared to defend his views which I appreciated very much, even though I didn't agree that the recession was over.

Enjoyed reading the article, good to hear some bears coming out of the wood work in the investment banking world. I agree that debt is the problem that the bulls seem to overlook, or at least assume that the debt absorbing capacity can somehow be sustained. Maybe this is what QE is all about keeping the debt bubble floating. I agree with MW about it not being money printing though, in that sense a zero sum game.

I don't agree with the article about the dollar though. The dollar is key to deflation of the debt bubble. The only other scenario I can come up with is war, which doesn't bear thinking about. I don't believe in the hyperinflation route because that relies on debt holders tolerating devaluation of their assets. They won't stand by quietly and be shafted by run away inflation. IMO there will be another credit crunch or two as debt paper is off-loaded and everyone scrambles for dollars to pay back their debts.

Thursday, November 19, 2009 11:33AM Report Comment
 

11. letthemfall said...

This article talks about inflationary and deflationary disasters, coming out, I think, in favour of deflation - hence buy govt bonds. It seems we are poised between the two, and no one has any confidence in predicting which will happen.

Thursday, November 19, 2009 12:36PM Report Comment
 

12. This comment has been removed as it was found to be in breach of our Blog Policies.

 

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