Societe Generale ג€Warningג€ Of Global Economic Collapse!
Socgen has issued a warning to its clients for a Global Economic Collapse! Seems the timing could not be better with 2012 in the movie theaters all over the world. Before one scoffs off Societe Generaleג€™s warning one needs to take into context that they have been right in the past. One such instance was in May of 2008 they predicted a stock market collapse between 50-70%.
Well that happenedג€¦(even though we have rebounded …sooo farrrג€¦). Socgen is trying to be politically correct now and saying the ג€Worst Case Debt Scenarioג€. In all reality how far off the mark are they. How can a person make payments when he owes too much. The same can be argued for countries that have too much debt. Just the interest to carry the debt becomes not manageable at some point. Look at it this wayג€¦the total US private and public debt is 350% of the US GDP. Put it this wayג€¦it would take 3 ֲ½ years to pay off this debt. Imagine we ran our personal houses this way? Socgen is not just speaking about the USג€¦ just look at the UK..Japan and the EU. It is truly sickening. Socgen came up with the unbelievable number of $45 trillion dollars world wide debt.
So what does Societe Generale suggest? Obviously buy gold.. As much gold as you canג€¦sell stocksג€¦.exit emerging marketsג€¦ sell US dollarsג€¦buy government bondsג€¦and buy agricultural commodities.
Scary stuffג€¦ If you are trend followerג€¦and the warnings/ predictions of Societe Generale come to fruition you should not just surviveג€¦. But you stand the chance to possibly make money from this ג€Economic Collapseג€.
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