http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x7042417Oh my.
Bella Abzug,
who has NOT donated to Skins's island:
Nikki Stone1 (1000+ posts) Wed Nov-18-09 05:53 PM
Original message
French Bank tells clients how to prepare for 'global collapse'
http://www.telegraph.co.uk/finance/economics/6599281/So...
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.
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....
...Under the French bank's "Bear Case" scenario, the dollar would slide further and global equities would retest the March lows. Property prices would tumble again. Oil would fall back to $50 in 2010.
Governments have already shot their fiscal bolts. Even without fresh spending, public debt would explode within two years to 105pc of GDP in the UK, 125pc in the US and the eurozone, and 270pc in Japan. Worldwide state debt would reach $45 trillion, up two-and-a-half times in a decade....
(More at the link)
cutlassmama (914 posts) Wed Nov-18-09 06:02 PM
Response to Original message
2. buy gold and silver
Ignis (1000+ posts) Wed Nov-18-09 11:55 PM
Response to Reply #2
26. Sod that. Buy seeds and bullets, if you must.
If US society collapses to the point that you need solid metals to weather the storm, most people are going to be much more worried about food than bank balances.
Now, franksolich is sorely surprised no primitive has suggested stocking up on cases of toilet tissue.
In most discussions about disasters, the primitives suggest cases of toilet tissue.
As if the plumbing infrastructure would still function despite a disaster.
Nikki Stone1 (1000+ posts) Thu Nov-19-09 12:10 AM
Response to Reply #26
36. Canned goods and ammo, eh?
There is an ammo shortage right now.
Ignis (1000+ posts) Thu Nov-19-09 12:21 AM
Response to Reply #36
40. True enough.
I'm just not convinced of the need for hard metals.
We've become incredibly dependent on large-scale, petroleum-based transportation to feed much of the population, so if things go south as quickly and badly as some fear, starvation will be a much larger factor than I've seen in any of these analyses/papers/whatnot.
And when starvation is a major factor, the liquidity (and local value) of hard metals isn't a sure thing. Look at Africa in the '60s-'80s for many tragic examples of this.
Nikki Stone1 (1000+ posts) Thu Nov-19-09 12:23 AM
Response to Reply #40
41. So having land, a garden, canned goods--
But what if you can't shoot?
If a woman, sell one's body to someone who can shoot.
I dunno what I'd do as a guy; perhaps sell my income-tax preparation expertise to someone who can shoot.
Ignis (1000+ posts) Thu Nov-19-09 12:33 AM
Response to Reply #41
43. Find hungry friends with guns but no gardening experience.
Look, I'm not a fan of doomsday scenarios, because I know how they end: Badly for anyone without the money, connections, and liquidity to get the hell out of Dodge at the first sign of collapse. And that's the vast majority of us who haven't the requisite silver spoon.
A libertarian-esque focus on rugged individuality will just survivalists killed by someone with a bigger gun, a bigger crew, longer range, or more bullets. The real currency in the event of a societal collapse is community.
The Allentown dude primitive,
who has NOT donated to Skins's island, and who's hot for Bella Abzug's body:
AllentownJake (1000+ posts) Wed Nov-18-09 06:03 PM
Response to Original message
3. 3---2---1 till the Cheerleaders start demanding for Freedom Toast and Freedom Fries again
Nikki Stone1 (1000+ posts) Wed Nov-18-09 10:27 PM
Response to Reply #3
13. Freedom Toast?
(I knew about the fries, but the toast too?)
AllentownJake (1000+ posts) Wed Nov-18-09 11:20 PM
Response to Reply #13
17. Shit there were assholes renaming the kissing
Nikki Stone1 (1000+ posts) Wed Nov-18-09 11:40 PM
Response to Reply #17
19. Freedom kissing?
Really?
Good god. Some people need a life.
franksolich has a question.
We've got the German measles and the French disease and the Greek sport--so how come it's not okay to call the current epidemic the Mexican flu?
Ignis (1000+ posts) Wed Nov-18-09 11:53 PM
Response to Reply #3
25. Pardon my Freedom, but ...
**** those jingoistic morons.
ixion (1000+ posts) Wed Nov-18-09 06:18 PM
Response to Original message
5. "state rescue packages over the last year...
have merely transferred private liabilities onto sagging sovereign shoulders, creating a fresh set of problems."
This is, of course, why I was distinctly opposed to a bailout, and why I considered it a daylight robbery.
"transferred private liabilities"... got that?
Nikki Stone1 (1000+ posts) Wed Nov-18-09 07:02 PM
Response to Reply #5
7. Bingo and right on!
It was a ripoff of the taxpayer
But because Bo did the ripping, it's okay, right?
The bonfire's mostly Bella Abzug and the Allentown dude primitive flirting with each other; of interest only to those into Freudian analysis.
