French bank warns clients to prepare for global collapse

[AreWeThereYet]

Rome didn't fall overnight and neither did Britain.  It was a change over time.

We are doing that now.  It does give us time to adjust, to learn to prepare.  I say be thankful for it.
A total collapse would be chaos and panic.

Rome didn't have to deal with 8 billion people well into overshoot. Exponential growth will kill us, and while the history of Rome has many analogies to our current government and problems, the numbers involved today put it on a global scale, a scale never seen before. Therefore the fall will not be gradual but violent and catastrophic.

We are 2 years into it (if you start with Bear bust).  I'm actually surprised the wheels are still moving.
They are pulling too many rabbits out of the hat that keep the sheeple pacified.  They are now juggling numbers on books to make it appear we're recovering.

Did you read the news about GM repaying some of the loans ?  Well..not mentioned is that GM tucked away some TARP money in an account ($6 bil or so) and are using that to pay back the government.  Funny stuff like that will keep this train rolling down the track.  For how long though..I don't know.  I thought we should have crashed and burned late last year, early this year but we haven't.

Remember..these guys can and are changing the rules of the game as it is being played.

[picasso moon]

We are 2 years into it (if you start with Bear bust).  I'm actually surprised the wheels are still moving.
They are pulling too many rabbits out of the hat that keep the sheeple pacified.  They are now juggling numbers on books to make it appear we're recovering.

Making it appear like we're recovering ain't worth jack shit when the foundations are falling apart on the economic structure as well as the very physical structure (ie the planet( which makes any sort of human society possible. You're too impressed with fluff.

Did you read the news about GM repaying some of the loans ?  Well..not mentioned is that GM tucked away some TARP money in an account ($6 bil or so) and are using that to pay back the government.  Funny stuff like that will keep this train rolling down the track.  For how long though..I don't know.  I thought we should have crashed and burned late last year, early this year but we haven't.

And a person falling off the top of the Empire State Building is still OK as they pass the 60th floor, provided they haven't suffocated yet from the fall. The tracks are all torn up, the train is just hurling off them in a straight line so far, like Wile Coyote going over a cliff.

Remember..these guys can and are changing the rules of the game as it is being played.

That's only the financial bookkeeping game. The actual wealth production, in the production sphere, is broken down and crumbling, and the ecological crisis is totally out of their control.
Megadoom is right re the comparison with Rome. Just imagining falling off a tree after climbing 20 ft up vs climbing 200 ft up.

[AreWeThereYet]

We are 2 years into it (if you start with Bear bust).  I'm actually surprised the wheels are still moving.
They are pulling too many rabbits out of the hat that keep the sheeple pacified.  They are now juggling numbers on books to make it appear we're recovering.

Making it appear like we're recovering ain't worth jack shit when the foundations are falling apart on the economic structure as well as the very physical structure (ie the planet( which makes any sort of human society possible. You're too impressed with fluff.

Did you read the news about GM repaying some of the loans ?  Well..not mentioned is that GM tucked away some TARP money in an account ($6 bil or so) and are using that to pay back the government.  Funny stuff like that will keep this train rolling down the track.  For how long though..I don't know.  I thought we should have crashed and burned late last year, early this year but we haven't.

And a person falling off the top of the Empire State Building is still OK as they pass the 60th floor, provided they haven't suffocated yet from the fall. The tracks are all torn up, the train is just hurling off them in a straight line so far, like Wile Coyote going over a cliff.

Remember..these guys can and are changing the rules of the game as it is being played.

That's only the financial bookkeeping game. The actual wealth production, in the production sphere, is broken down and crumbling, and the ecological crisis is totally out of their control.
Megadoom is right re the comparison with Rome. Just imagining falling off a tree after climbing 20 ft up vs climbing 200 ft up.

I know it's all broke.  But, they are playing a game that the masses are buying into.  That will keep the game going just that much longer.
Roubini is giving the warning again.  Is anyone paying attention ?

[metaforge]

SocGen advises bears to sell the dollar and to "short" cyclical equities such as technology, auto, and travel to avoid being caught in the "inherent deflationary spiral".

I'm wondering what the point is of shorting things.  When the markets tank, is there going to be anyone there to help you recoup your profit?  Will the markets even be open?  I'm surprised this article is not saying abandon all hope ye who enter this market, buy precious metals.  Going short implies that when you want to cash out, there's still a market to cash out into, yes?  I'd say it's not doomerish enough!

[Captain Ron]

You'd think this article would be generating a buzz here, but i guess it's just too doomerish for "doomers". 

LOL- personally, I'm almost doom fatigued when it comes to "prepare" for global financial collapse. I've been watching this shit all day every day since last year's meltdown, and there's been a shortage of actual action, as everything has been held together with Bernanke's hail mary bailouts and wishful thinking. I'm watching and still disbelieving that things are still stumbling along, but compared with last fall, this one has been a snoozer so far with the tangible doom.

Agreed.  My popcorn grows stale.

[Abhaha]

Agreed.  My popcorn grows stale.

When I was 15, I took a hike across the Killalea Iki volcano crater on the big Island of Hawaii. I got really pissed off that the sucker didn't ERUPT while I was walking across it--I wanted some EXCITEMENT!! and all I saw was a pile of black rock puffing steam here and there. Yes, it is an active volcano crater, but it just wasn't active enough for ME.

Now, nearly 50 years later, the stale popcorn is just fine by me.

We will get ours soon enough.

[Bruce]

Megadoom wrote "Rome didn't have to deal with 8 billion people well into overshoot. Exponential growth will kill us, and while the history of Rome has many analogies to our current government and problems, the numbers involved today put it on a global scale, a scale never seen before. Therefore the fall will not be gradual but violent and catastrophic". I could not agree more. Why do people not get this? Comparing what happened in Rome to us is ridiculous. The same can be said about comparing the great depression to what is unfolding here. There are so many fundamental differences between us and the people back in the great depression it isn't funny. We have MANY more people now. They had farming skills, knew how to hunt, trap and dress anything. They had calloused hands from work, they did not sit in some air conditioned cubicle all day doing nothing. They did not have much to lose as most had noting to start with. They used outhouses and pumped their own water. They had no electricity but used wood stoves to cook and for warmth. It is preposterous to compare modern people to the men and women of those days. They still had sex and breathed and the comparisons stop about there. Soon our mission will be to become them!!!!!!!!!.................................Bruce

[DoomNymph]

Société Générale tells clients how to prepare for potential 'global collapse'

Ambrose Evans-Pritchard

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

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.

[DoomNymph]

Whoops, already posted.  Sorry.

http://www.doomers.us/forum2/index.php/topic,56934.0.html

[mtlouie]

Rome didn't fall overnight and neither did Britain.  It was a change over time.

We are doing that now.  It does give us time to adjust, to learn to prepare.  I say be thankful for it.
A total collapse would be chaos and panic.

Rome didn't have to deal with 8 billion people well into overshoot. Exponential growth will kill us, and while the history of Rome has many analogies to our current government and problems, the numbers involved today put it on a global scale, a scale never seen before. Therefore the fall will not be gradual but violent and catastrophic.

It's amazing to me people think this is going to be like Rome.  I'm honest-to-god shocked the idiots have kept the plate spinning this long.  When it falls it's going to be BIG.

[onemintomidnight]

Even if the US savings rate stabilises at 7pc, and all of it is used to pay down debt, it will still take nine years for households to reduce debt/income ratios to the safe levels of the 1980s.


Everything goes back to the 80s.....

and then the 60's then the 40's...

it is almost as if we hit a peak..

[picasso moon]

There was never a real "recovery" from what started right before WWI. The "Great War" bought just a tiny amount of time, by '29 the crash resumed. WWII destroyed enough global industrial capacity to enable "prosperity" off the reconstruction, as well as rationalization of the global economy via its reorganization under US leadership. In addition, military spending, higher consumption levels (suburban lifestyle) and large increases in credit fed expansionThis post-war recovery started experiencing problems by 1960, and was in tatters by the early '70s, with "stagflation" becoming rampant. Since then, one debt bubble after another have propped things up, TPTB have now run out of bubbles.

[Peelo]

Wasn't it one of SG's flunkies a couple years back who swindled them bigtime (got prison time for it)?

If any bank knows a swindle, SG is it.

Yes you're right. Didn't the trader lose huge amounts of money for SG? Like the losses were in the billions of Euros?
Anyway, the collapse seems to slowly become part of the mainstream news and consciousness. Didn't Orlov suggest that at this point we should pretty much run to the hills?

[AreWeThereYet]

Megadoom wrote "Rome didn't have to deal with 8 billion people well into overshoot. Exponential growth will kill us, and while the history of Rome has many analogies to our current government and problems, the numbers involved today put it on a global scale, a scale never seen before. Therefore the fall will not be gradual but violent and catastrophic". I could not agree more. Why do people not get this? Comparing what happened in Rome to us is ridiculous. The same can be said about comparing the great depression to what is unfolding here. There are so many fundamental differences between us and the people back in the great depression it isn't funny. We have MANY more people now. They had farming skills, knew how to hunt, trap and dress anything. They had calloused hands from work, they did not sit in some air conditioned cubicle all day doing nothing. They did not have much to lose as most had noting to start with. They used outhouses and pumped their own water. They had no electricity but used wood stoves to cook and for warmth. It is preposterous to compare modern people to the men and women of those days. They still had sex and breathed and the comparisons stop about there. Soon our mission will be to become them!!!!!!!!!.................................Bruce

My grandparents went through the Great Depression in NYC.  NYC had electricity, gas stoves, refrigerators, bathrooms with toilets that flushed.  Same with all the other big cities.  People in the cities depended on farmers travelling into the city so they could buy fresh produce/eggs/etc.  And it wasn't always that fresh.

Attitudes and skills are different today so I'm definitely not saying things would be "the same".  I'd be fearful to be caught in a big city should TSHTF.

[joewp]

My grandparents went through the Great Depression in NYC.  NYC had electricity, gas stoves, refrigerators, bathrooms with toilets that flushed.  Same with all the other big cities.  People in the cities depended on farmers travelling into the city so they could buy fresh produce/eggs/etc.  And it wasn't always that fresh.

Attitudes and skills are different today so I'm definitely not saying things would be "the same".  I'd be fearful to be caught in a big city should TSHTF.

During the Depression NYC was surrounded with good food producing land on Long Island, near Upstate and north and central New Jersey. Today, the vast majority of that once good food producing land is now suburbs and exurbs, filled with people who get hungry too.

You do the math...