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November 20th, 2009, 09:20 PM #1Banned
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Behind You, Watching, Always Watching
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Preparing for 'Global Economic Collapse' A Big Bank Advises Its Clients
Man this will make you think and then some. It's articles like this that make me really take pause and think if I'm ready:
http://www.lewrockwell.com/orig10/ev...itchard12.html
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.
"As yet, nobody can say with any certainty whether we have in fact escaped the prospect of a global economic collapse," said the 68-page report, headed by asset chief Daniel Fermon. It is an exploration of the dangers, not a forecast.
Will it happen? Who knows. Can it happen? Sure as shit.
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