Article

2009-11-19 Economy

Societe Generale tells clients how to prepare for 'global collapse'

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Posted by Anonymoose 2009-11-19 00:00|| || Front Page|| [1 views ] Top

#1 The problem is considerably worse, because years of debt fueled economic activity or just plain bubble prices inflated government revenues. Those revenues will be substantially below recent years for many years to come. Thus accelerating the point where public debt is unsustainable.

BTW, Spain, Greece, and probably the UK are there already or will be in a few months.

Posted by phil_b 2009-11-19 05:00|| 2009-11-19 05:00|| Front Page Top

#2 Inflation kills jobs and savings, it's not the cost free option governments think.

The cost is hidden though so governments will probably go for it and divert the blame.

Posted by Bright Pebbles 2009-11-19 08:55|| 2009-11-19 08:55|| Front Page Top

#3 Buy platinum. Maybe titanium too.

Posted by lex 2009-11-19 11:38|| 2009-11-19 11:38|| Front Page Top

#4 Deflation has its own adverse consequences, as does defaulting on debts (whether public or private), as does trying to run a nation's economy on the Gold Standard. There ain't no such thing as a free lunch (TANSTAAFL)

Posted by Anguper Hupomosing9418 2009-11-19 11:40|| 2009-11-19 11:40|| Front Page Top

#5 deleveraging. Is that what they're calling "everyone pay the financiers for the privilege of them deigning to tolerate our continued existence" now?

Posted by gromky 2009-11-19 13:37|| 2009-11-19 13:37|| Front Page Top

#6 Buy platinum. Maybe titanium too.

Buy canned beans, lots of canned beans. And a can opener.

Posted by anonymous5089 2009-11-19 15:11|| 2009-11-19 15:11|| Front Page Top

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