Sunday, November 22, 2009

Société Générale Tells Clients How to Prepare for Potential Global Collapse (Says Dump Dollar and Buy Government Bonds)


According to the London Telegraph, 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. You can read the full report below.

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.



Image Source: David Dees


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