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Société Générale tells clients how to prepare for potential ‘global collapse’

Posted By admin On November 19, 2009 @ 12:05 pm In Money Watch | Comments Disabled

Ambrose Evans-Pritchard
London Telegraph [1]
Thursday, Nov 19th, 2009

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.

In a report entitled “Worst-case debt scenario”, the bank’s asset team said state rescue packages over the last year have merely transferred private liabilities onto sagging sovereign shoulders, creating a fresh set of problems.

Overall debt is still far too high in almost all rich economies as a share of GDP (350pc in the US), whether public or private. It must be reduced by the hard slog of “deleveraging”, for years.

“As yet, nobody can say with any certainty whether we have in fact escaped the prospect of a global economic collapse,” said the 68-page report, headed by asset chief Daniel Fermon. It is an exploration of the dangers, not a forecast.

Full article here [1]

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Société Générale tells clients how to prepare for potential global collapse  FOTR 340x1692 [2] 

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URLs in this post:

[1] London Telegraph : http://www.telegraph.co.uk/finance/economics/6599281/Societe-Generale-tells-clients-how-to-prepare-for-global-collapse.html

[2] Buy the DVD here: http://infowars-shop.stores.yahoo.net/faofreprofba.html

[3] RBS tells clients to prepare for ‘monster’ money-printing by the Federal Reserve: http://www.prisonplanet.com/rbs-tells-clients-to-prepare-for-monster-money-printing-by-the-federal-reserve.html

[4] Goldman Tells Clients To Ignore “Controversial” Bad News, Sees 1.6% (Precisely) Recession Chance: http://www.prisonplanet.com/goldman-tells-clients-to-ignore-controversial-bad-news-sees-1-6-precisely-recession-chance.html

[5] Oldest Swiss Bank Tells Clients to Sell U.S. Assets or Leave: http://www.prisonplanet.com/oldest-swiss-bank-tells-clients-to-sell-u-s-assets-or-leave.html

[6] Goldman Bet Against Entire European Nations – Who Were Clients – the Same Way It Bet Against Its Subprime Mortgage Clients: http://www.prisonplanet.com/goldman-bet-against-entire-european-nations-who-were-clients-the-same-way-it-bet-against-its-subprime-mortgage-clients.html

[7] Golden Showers As Goldman Tells Clients To Sell Gold: http://www.prisonplanet.com/golden-showers-as-goldman-tells-clients-to-sell-gold.html

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