Sean King

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Knoxville, Tennessee, United States

Monday, December 14, 2009

Societe Generale Tells Clients How to Prepare for 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.

Their basic premise is the same as mine: Debt has achieved unsustainable levels, things won't improve markedly unless we suck it up and deleverage, and there's much that governments can do to screw things up royally in the meantime.

But, "collapse" will only happen if governments are foolish and screw things up (not that this gives much comfort).

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