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Thread: The potential for global collapse?

  1. #1
    Politics.ie Member rhonda15's Avatar
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    Default The potential for global collapse?

    Société Générale tells clients how to prepare for potential '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.

    http://www.telegraph.co.uk/finance/e...-collapse.html

    [ame="http://www.youtube.com/watch?v=eZA0qNsf4m0&videos="]YouTube- The Dollar Bubble[/ame]


    I know the Soc Gen article has been posted before and while I'm not 100% sure what their angle is - the fact that they are putting this out there, I take it very seriously - the potential for global collapse is no longer merely a hypothetical it could happen.

    The next two years will be decisive - my hunch is that there will either be a global collapse of sorts followed by war or another series of major financial shocks followed by a dollar default and perhaps the ushering in of a new global currency (or a variant thereof).

    What do you guys think?
    "The individual is handicapped by coming face to face with a conspiracy so monstrous he cannot believe it exists.'' ~ J. Edgar Hoover http://tiny.cc/b2jo9

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    Politics.ie Newbie jelpor's Avatar
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    Until the working man joins hands at a global level, trancending race, and uniting against the capitatist robber baron pigs and their bourgeies puppets, we will get nowhere.

  3. #3

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    Good links Rhonda, read that report from the Societe Generale last week. First mainstream organisation that is taking this scenario seriously.

    The financial system is all life support. It is being fed with morphine. In late September 2008 just after Congress in the US voted against the emergency TARP funds legislation, they were warned that unless the second draft was let through, that global financial system would crash the following day.

    Idle threat? I do not think so. It only takes 5% flight of capital from the institutes around the globe at the same time to crash the system. It is too fragile.

    We also have the 1.5 Quadrillion US Dollar derivatives market to contend with. All them digits flowing around the world's computer screens have to be called up on. Some cancel each other out , some more can be created like in double or quits terms. But if incomes are dropping people are being forced to liquidate their "assets" more and more, does the Fed just keep printing money to mop it all up? How can it balance the flow from going deflationary or inflationary?

    Then we have the prime mortgage and commercial mortgage crisis unfolding in the States. A second financial tsunami is developing. Remember the adverse conditions given for the Stress Tests back in April results are already breached. So Bank of America, Citigroup and Wells Fargo / Wachovia are in the firing line. The FDIC is broke and thats before Swine Flu rampages.

    Here is good clip of highlights from a 1981 film called Rollover that is about the global Financial system crashing in a 1 day type event.

    [ame="http://www.youtube.com/watch?v=GPYLJoq_40Y"]YouTube- Rollover 1981... world economic collapse[/ame]
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    Quote Originally Posted by jelpor View Post
    Until the working man joins hands at a global level, trancending race, and uniting against the capitatist robber baron pigs and their bourgeies puppets, we will get nowhere.
    You sound like the guys in 1915 who thought in a future war a british baker would prefer to kill a british company owner than a german baker.

    It is wrong - rightfully or wrongfully, national border and then religon are more important than"class"

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    Interesting topic.
    I don't think these arguments would have been listened to a few years ago when everyone seemed to be enjoying their new found wealth.
    Disccussions on the subject of financial collapse seems to be springing up on many web sites in Ireland and overseas.

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    Politics.ie Member mryoungdan's Avatar
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    Just think of all the money that is about to be made.

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    Quote Originally Posted by toughbutfair View Post
    You sound like the guys in 1915 who thought in a future war a british baker would prefer to kill a british company owner than a german baker.

    It is wrong - rightfully or wrongfully, national border and then religon are more important than"class"
    By 1917, that's just what millions had decided in Russia, France and Germany.

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    Politics.ie Member rhonda15's Avatar
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    Quote Originally Posted by mryoungdan View Post
    Just think of all the money that is about to be made.
    The already very rich will make a pile - i don't see how the average joe will benefit from a collapse or near collapse
    "The individual is handicapped by coming face to face with a conspiracy so monstrous he cannot believe it exists.'' ~ J. Edgar Hoover http://tiny.cc/b2jo9

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    Politics.ie Member Simbo67's Avatar
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    Rhonda, you're a fierce man for the doom porn. Happy thanksgiving.

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    It's difficult to be optimistic knowing that added to all these problems is the fact that oil production has peaked and most western countries are pretending it's not happening.

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