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Société Générale tells clients how to prepare for 'global collapse' - Telegraph
by Decius at 1:03 pm EST, Nov 19, 2009

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... 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.

Really? I think its a forecast. Here is why.

Under the French bank's "Bear Case" scenario (the gloomiest of three possible outcomes), the dollar would slide further and global equities would retest the March lows. Property prices would tumble again. Oil would fall back to $50 in 2010.

I view retesting march lows as a near certainty.

RE: Société Générale tells clients how to prepare for 'global collapse' - Telegraph
by Hijexx at 5:39 pm EST, Nov 20, 2009

Decius wrote:
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... 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.
Really? I think its a forecast. Here is why.
Under the French bank's "Bear Case" scenario (the gloomiest of three possible outcomes), the dollar would slide further and global equities would retest the March lows. Property prices would tumble again. Oil would fall back to $50 in 2010.
I view retesting march lows as a near certainty.

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