30 {{ upvoteCount | shortNum }}
30 {{ upvoteCount | shortNum }}

HSBC fears world recession with no lifeboats left

by Joe Mobley
21 replies
  • OFF TOPIC
    • |
Photo: ALAMY

JP Morgan estimates that the US economy contracted at an rate of 1.1pc in the first quarter, far worse than originally supposed.

The Fed thought the windfall gain of cheaper energy for everybody else would weigh more in the balance, but this time Americans have chosen to salt away the money.

Net saving jumped by $125bn to $728bn in the first quarter. There was no pick-up in April.

Retail sales were flat.

Much now depends on China, where the economy is starting to look "Japanese".

Dario Perkins from Lombard Street Research says the Chinese economy is in a much deeper downturn than admitted so far by the authorities. It probably contracted outright in the first quarter.

Electricity use has turned negative. Rail freight has been falling at near double-digit rates.

What began as a deliberate move by Beijing to choke off a credit bubble has taken on a life of its own, evolving into a primordial balance-sheet purge.
Mr Perkins said China is now in a "classic debt deflation spiral" as excess capacity holds down prices. Factory gate inflation is now minus 4.6pc.

This in turn is tightening the noose further by pushing up real borrowing costs.
This is a pretty in-depth article and has a global look at the current economic situation.

HSBC fears world recession with no lifeboats left - Telegraph


Joe Mobley
  • Profile picture of the author HeySal
    Look at the brigh side - if the global economy crashes - World Bank is done.
    Signature

    Sal
    When the Roads and Paths end, learn to guide yourself through the wilderness
    Beyond the Path

    {{ DiscussionBoard.errors[10082283].message }}
    • Profile picture of the author butters
      Originally Posted by HeySal View Post

      Look at the brigh side - if the global economy crashes - World Bank is done.
      Then we all get to live out in the wilderness hunting for what very little food there is left. By the end of the year people kill people to survive and the world turns into chaos!! Sounds like the walking dead, but without the zombies.
      {{ DiscussionBoard.errors[10082598].message }}
      • Profile picture of the author Kay King
        Sal - You'll have to throw your own party. Others will be too busy trying to survive to celebrate collapse of banking systems.

        "The world economy is sailing across the ocean without any lifeboats to use in case of emergency," he said.
        Good point - because those layers of protection - such as the Fed Reserve - are out of tricks, too. The longer we live with a "stimulated" economy, the more worried I am about a potential crash.

        I don't know that it will happen - but I fear if a global crash occurs it will be sudden and traumatic.
        Signature
        Saving one dog will not change the world - but the world changes forever for that one dog
        ***
        Dear April: I don't want any trouble from you.
        January was long, February was iffy, March was a freaking dumpster fire.
        So sit down, be quiet, and don't touch anything.
        {{ DiscussionBoard.errors[10082658].message }}
        • Profile picture of the author BigFrank
          Banned
          HSBC fears ability to plunder world markets will end if recession occurs.

          Headline all fixed, now.

          Cheers. - Frank
          {{ DiscussionBoard.errors[10082665].message }}
          • Profile picture of the author Kay King
            Ok - I guess Frank and I can come to the party...get the booze ready, Sal.
            Signature
            Saving one dog will not change the world - but the world changes forever for that one dog
            ***
            Dear April: I don't want any trouble from you.
            January was long, February was iffy, March was a freaking dumpster fire.
            So sit down, be quiet, and don't touch anything.
            {{ DiscussionBoard.errors[10082707].message }}
            • Profile picture of the author BigFrank
              Banned
              Originally Posted by Kay King View Post

              Ok - I guess Frank and I can come to the party...get the booze ready, Sal.
              I've been hearing about this collapse of the world economy for over 30 years. It's beyond boring, borders on the fantastical and if it ever does happen, it won't be in our lifetime.

              You can take that to the bank, just make sure it's not HSBC.

              Cheers. - Frank
              {{ DiscussionBoard.errors[10082717].message }}
              • Profile picture of the author butters
                Originally Posted by BigFrank View Post

                I've been hearing about this collapse of the world economy for over 30 years. It's beyond boring, borders on the fantastical and if it ever does happen, it won't be in our lifetime.

                You can take that to the bank, just make sure it's not HSBC.

                Cheers. - Frank
                The bank of Frank! I'm sure one exists some where.
                {{ DiscussionBoard.errors[10082721].message }}
                • Profile picture of the author BigFrank
                  Banned
                  Originally Posted by butters View Post

                  The bank of Frank! I'm sure one exists some where.
                  Official name: The Bank of Big Frank

                  Cheers. - Big Frank, CFO
                  {{ DiscussionBoard.errors[10082731].message }}
                  • Profile picture of the author tagiscom
                    Yes, sounds like we should start to buy tons of Gold and Silver, eventhough both have taken dives now and them! Oh, and go buy the doom and gloom company who are pushing their latest book?

                    I agree with Frank on this one, it seem that the online company's that push the worst case scenario, are the ones with their hands out,...hmmm, sounds familiar!

                    I followed one for a while, until l realised that they were pushing the worst version of possible future events, and constantly wanting me to buy some course or exclusive entry to some elite group?

                    Signature
                    Archimedes Forum, Sign up l won't bite
                    {{ DiscussionBoard.errors[10082870].message }}
                  • Profile picture of the author Joe Mobley
                    I believe in Black Swans.

                    Black swan events were introduced by Nassim Nicholas Taleb in his 2001 book Fooled By Randomness, which concerned financial events.

                    His 2007 book The Black Swan extended the metaphor to events outside of financial markets.

                    Taleb regards almost all major scientific discoveries, historical events, and artistic accomplishments as "black swans"--undirected and unpredicted. He gives the rise of the Internet, the personal computer, World War I, dissolution of the Soviet Union, and the September 2001 attacks as examples of black swan events.

                    The phrase "black swan" derives from a Latin expression; ... When the phrase was coined, the black swan was presumed not to exist.

                    The importance of the metaphor lies in its analogy to the fragility of any system of thought. A set of conclusions is potentially undone once any of its fundamental postulates is disproved.

                    In this case, the observation of a single black swan would be the undoing of the logic of any system of thought, as well as any reasoning that followed from that underlying logic.
                    Black swan theory - Wikipedia, the free encyclopedia

                    Nassim Nicholas Taleb is, in my opinion, one of the great minds of our time.


                    Joe Mobley
                    Signature

                    .

                    Follow Me on Twitter: @daVinciJoe
                    {{ DiscussionBoard.errors[10082886].message }}
                    • Profile picture of the author BigFrank
                      Banned
                      Originally Posted by Joe Mobley View Post

                      Nassim Nicholas Taleb is, in my opinion, one of the great minds of our time. Joe Mobley
                      Joe - I appreciate the kind words, but FYI, I am no longer writing under that pen name. Try and keep up. :-)

                      Cheers. - Frank
                      {{ DiscussionBoard.errors[10083388].message }}
              • Profile picture of the author Claude Whitacre
                Originally Posted by BigFrank View Post

                I've been hearing about this collapse of the world economy for over 30 years. It's beyond boring, borders on the fantastical and if it ever does happen, it won't be in our lifetime.

                You can take that to the bank, just make sure it's not HSBC.

                Cheers. - Frank

                The Kabal is going to destroy The Illuminati.

                My one consolation is that, in death, I won't have to hear any of this anymore.

                And Riffle will be silent to my ears.

                Ahhhhhh Death's sweet embrace.
                Signature
                One Call Closing book https://www.amazon.com/One-Call-Clos...=1527788418&sr

                What if they're not stars? What if they are holes poked in the top of a container so we can breath?
                {{ DiscussionBoard.errors[10083432].message }}
    • Profile picture of the author seasoned
      Originally Posted by HeySal View Post

      Look at the brigh side - if the global economy crashes - World Bank is done.
      I HOPE!.....
      {{ DiscussionBoard.errors[10083449].message }}
  • Profile picture of the author seasoned
    As for the pan handlers and entitlement freaks? Watch generosity dry up, especially with them. Things are different when nearly everyone is struggling.

    Steve
    {{ DiscussionBoard.errors[10083458].message }}
  • Profile picture of the author Kurt
    Originally Posted by Joe Mobley View Post

    Photo: ALAMY











    This is a pretty in-depth article and has a global look at the current economic situation.

    HSBC fears world recession with no lifeboats left - Telegraph


    Joe Mobley

    The Following User Says Thank You For This Useful Post:

    Chicken Little
    Signature
    Discover the fastest and easiest ways to create your own valuable products.
    Tons of FREE Public Domain content you can use to make your own content, PLR, digital and POD products.
    {{ DiscussionBoard.errors[10083460].message }}
    • Profile picture of the author Enfusia
      Do consider that there is one side of all this pushing for a global curency reset.

      It's looking more and more like that may actually happen.

      If it did transpire with IS holding so many Iraqi resources it could be challenging to contain them once they received that much funding.

      If it revalues and a large portion is under their control then I'm sure you can imagine what that would do. They "say" they are having a hard time fighting them when they have about a billion. How much harder does it become if they have trillions.

      Patrick
      Signature
      Free eBook =>
      The Secret To Success In Any Business
      Yes, Any Business!
      {{ DiscussionBoard.errors[10083568].message }}
      • Profile picture of the author whateverpedia
        Originally Posted by Enfusia View Post

        It's looking more and more like that may actually happen.
        Ain't gonna happen. Ever.

        The Euro has shown the world the utter folly of having economies of different strengths and sizes under a single currency.

        The only thing these tales do is keep sales of tinfoil pumping. Just like the "pending collapse" stories, these have been around for decades as well.

        On a further note all those who propose buying gold to emasculate the Rothschild/Illuminati banking cartel seem to be blissfully, or even wilfully ignorant of the fact that the gold market is controlled by the very same Rothschild/Illuminati/ banking cartel. So, by buying gold and therefore pushng the price up, you're only giving more power to the Rothschild/Illuminati/banking cartel.

        Relax folks, and take off your tinfoil underwear because a single world currency is never going to happen. Ever.

        Listen to or read what Warren Buffet has had to say about owning gold and take it from there.

        There's a very good reason why Mr Buffet is considered to be the world's most successful investor, and those pushing Rotschild/Illuminati/banking cartel/buy gold/one world currency/imminent collapse conspiracy theories aren't.
        Signature
        Why do garden gnomes smell so bad?
        So that blind people can hate them as well.
        {{ DiscussionBoard.errors[10083695].message }}
        • Profile picture of the author seasoned
          Originally Posted by whateverpedia View Post

          There's a very good reason why Mr Buffet is considered to be the world's most successful investor, and those pushing Rotschild/Illuminati/banking cartel/buy gold/one world currency/imminent collapse conspiracy theories aren't.
          Well, what buffet is doing would be REMARKABLE for a middle class person, etc... For HIM, it ISN'T! He looks for undervalued or somehow distressed companies(NTE, this does not mean the COMPANY is distressed in a noticeable way, etc....), and he buys it almost like a portfolio, but he has LOTS of BIG investors! EVENTUALLY, he may go whole hog, and buy the whole thing, lock stock and barrel. Look at berkshire hathaway sometime, stock and holdings. MOST of the story IS there!

          BERKSHIRE HATHAWAY INC.

          Companies he went full into, using THIS as a vehicle?


          Acme Brick Company

          Helzberg Diamonds

          Applied Underwriters

          H.H. Brown Shoe Group

          Ben Bridge Jeweler

          HomeServices of America

          Benjamin Moore & Co.

          International Dairy Queen, Inc.

          Berkshire Hathaway Automotive

          IMC International Metalworking Companies

          Berkshire Hathaway Energy Company

          Johns Manville

          Berkshire Hathaway Homestate Companies

          Jordan's Furniture

          Berkshire Hathaway Specialty Insurance

          Justin Brands

          BH Media Group

          Larson-Juhl

          BoatU.S.

          Louis - Motorcycle & Leisure

          Borsheims Fine Jewelry

          Lubrizol Corporation

          Brooks

          Marmon Holdings, Inc.

          Buffalo NEWS, Buffalo NY

          McLane Company

          BNSF

          Medical Protective

          Business Wire

          MiTek Inc.

          Central States Indemnity Company

          National Indemnity Company

          Charter Brokerage

          Nebraska Furniture Mart

          Clayton Homes

          NetJets®

          CORT Business Services

          Oriental Trading Company

          CTB Inc.

          The Pampered Chef®

          Fechheimer Brothers Company

          Precision Steel Warehouse, Inc.

          FlightSafety

          RC Willey Home Furnishings

          Forest River

          Richline Group

          Fruit of the Loom Companies

          Scott Fetzer Companies

          Garan Incorporated

          See's Candies

          Gateway Underwriters Agency

          Shaw Industries

          GEICO Auto Insurance

          Star Furniture

          General Re

          TTI, Inc.

          Guard Insurance Group

          United States Liability Insurance Group

          Heinz
          XTRA Corporation


          OH YEAH..... And NOW, he is opening up retail areas to sell the products and services they have been giving others, etc....

          Steve
          {{ DiscussionBoard.errors[10084298].message }}
          • Profile picture of the author tagiscom
            Originally Posted by seasoned View Post

            Well, what buffet is doing would be REMARKABLE for a middle class person, etc... For HIM, it ISN'T! He looks for undervalued or somehow distressed companies(NTE, this does not mean the COMPANY is distressed in a noticeable way, etc....), and he buys it almost like a portfolio, but he has LOTS of BIG investors! EVENTUALLY, he may go whole hog, and buy the whole thing, lock stock and barrel. Look at berkshire hathaway sometime, stock and holdings. MOST of the story IS there!

            BERKSHIRE HATHAWAY INC.

            Companies he went full into, using THIS as a vehicle?


            Acme Brick Company

            Steve
            Acme Brick Company!!!! Might have Warner Bros copyright issues?


            But l suppose that ACME is a generic term?


            I thought that ACME explosives, would be more likely?

            Signature
            Archimedes Forum, Sign up l won't bite
            {{ DiscussionBoard.errors[10084593].message }}
        • Profile picture of the author Enfusia
          Originally Posted by whateverpedia View Post

          Ain't gonna happen. Ever.

          The Euro has shown the world the utter folly of having economies of different strengths and sizes under a single currency.

          The only thing these tales do is keep sales of tinfoil pumping. Just like the "pending collapse" stories, these have been around for decades as well.

          On a further note all those who propose buying gold to emasculate the Rothschild/Illuminati banking cartel seem to be blissfully, or even wilfully ignorant of the fact that the gold market is controlled by the very same Rothschild/Illuminati/ banking cartel. So, by buying gold and therefore pushng the price up, you're only giving more power to the Rothschild/Illuminati/banking cartel.

          Relax folks, and take off your tinfoil underwear because a single world currency is never going to happen. Ever.

          Listen to or read what Warren Buffet has had to say about owning gold and take it from there.

          There's a very good reason why Mr Buffet is considered to be the world's most successful investor, and those pushing Rotschild/Illuminati/banking cartel/buy gold/one world currency/imminent collapse conspiracy theories aren't.
          Hi,
          You missunderstood what I said.

          Nowhere in my post did I mention a single global currency.

          I said a currency reset.

          A currency reset is where all the currencies reset at what their real values should be.

          Please read about all the gold Putin has amassed. Why would he now hold more gold that all of the top 10 world banks combined?

          One reason could be that he's getting ready to back his currency.

          Patrick
          Signature
          Free eBook =>
          The Secret To Success In Any Business
          Yes, Any Business!
          {{ DiscussionBoard.errors[10085125].message }}
  • Profile picture of the author HeySal
    The US has at least 2 states that are ready to jump into metal back currency at any time. There may be more by now, but we've got at least two that are ready for conversion right now.
    Signature

    Sal
    When the Roads and Paths end, learn to guide yourself through the wilderness
    Beyond the Path

    {{ DiscussionBoard.errors[10084150].message }}

Trending Topics