Royal Bank of Scotland: Sell Everything!!!

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GA Russell
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Royal Bank of Scotland: Sell Everything!!!

Post by GA Russell »

The Royal Bank of Scotland today predicted a major depression in 2016, and recommended to its clients that they sell everything except "high quality bonds."

http://www.infowars.com/great-depressio ... warns-rbs/

RBS is respected, right? Is this something being discussed on UK radio or television?

What do you think?
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dosco
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Re: Royal Bank of Scotland: Sell Everything!!!

Post by dosco »

Interesting. I'd heard a few bits in other venues but nothing like what RBS has stated.

I suppose one should be a bit concerned, but not overly worried.

1. People suck a predicting anything.

2. Various talking heads were predicting the same thing in 2008 ... the economy was bad but not "great depression" or anything horrible.

3. Price of oil dropping due to reduced demand??? Recently the United States became a net exporter, which tells me we're pumping oil as fast as we can. Problem, I think, is excessive supply. That will correct (at least here in the States) when companies decide to slow or stop development and production because it's not profitable. Of course the Saudis can artificially control the market, and so they will have to slow supply when they've decided their economy has sustained enough damage (or the shale producers have been put out of business). Although there are more electric cars on the road than ever, they're simply not a 1-for-1 replacement for petrol powered cars. And airplanes consume plenty of dino fuel. And many homes use plenty of natural gas. Etc.

4. China may implode. Hard for me to know if there is enough entanglement to take down the rest of the globe. When Japan had it's problems back in the 80s/90s it wasn't great but it didn't cause a worldwide depression.

5. Read any of Nassim Taleb's stuff about risk and fragility. I haven't heard anything new from him as of late (I guess I'll take a look at his website later today). I'm sure his opinion is probably something like "there's a 50-50 chance that RBS is right" for a bunch of reasons ...

6. People suck at predicting anything.
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Re: Royal Bank of Scotland: Sell Everything!!!

Post by Antique Hoosier »

The Big Short........the next one..........it is out there but the big money behind it won't be found out until after it totally unravels.
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fallingwickets
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Re: Royal Bank of Scotland: Sell Everything!!!

Post by fallingwickets »

I think this is a ruse to get me to sell my stash of trumpers rose!

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Re: Royal Bank of Scotland: Sell Everything!!!

Post by brothers »

Evidently the Saudi oil strategy is working. Energy jobs are imploding, as thousands are losing jobs and companies are taking bankruptcy.
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Re: Royal Bank of Scotland: Sell Everything!!!

Post by ShadowsDad »

It could be interesting. (Chinese curse... May you live in interesting times)

I hope everyone here is ready for whatever might happen. I've been getting these financial warnings for months now but they've reached a fever pitch lately esp' with the RBS warning.

Not trying to stimulate fear, just be ready no matter what happens. If one is prepared for anything one prospers no matter what happens. Chill out and prepare.
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Re: Royal Bank of Scotland: Sell Everything!!!

Post by Squire »

These things come and go. I've got a two year supply of firewood and am perfectly capable of slaughtering a hog and preserving the meat. Doubt if it will come to that but best to be prepared. Stocking up on dried legumes as well.
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Re: Royal Bank of Scotland: Sell Everything!!!

Post by jww »

RBS has had its ups and downs in market predictions, even still, in spite of that, they seem to continue to carry some clout in that arena.

IBM -- my former employer from whom I gratefully accepted early retirement last September, has been tanking like a stone for 12 quarters in a row. When a long-time bellwether stock like big blue is in trouble like that, anything can happen.

We moved a large chunk of our investments to more secure vehicles in December on the advice of our trusted financial advisor ...... we still need to balance growth with security, but for now, I'm going to ride out our current strategy. Not that I am a financial genius or investment savvy individual. :oops:
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Re: Royal Bank of Scotland: Sell Everything!!!

Post by ThePossum »

Sell everything? Including SWMBO? :lol:
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GA Russell
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Re: Royal Bank of Scotland: Sell Everything!!!

Post by GA Russell »

Five hours ago, CNBC put on its website a commentary saying that 2016 will see a recession worse than 2008's, and there are already 1,000 comments on it!

http://www.cnbc.com/2016/01/15/a-recess ... ntary.html
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Re: Royal Bank of Scotland: Sell Everything!!!

Post by slackskin »

GA Russell wrote:Five hours ago, CNBC put on its website a commentary saying that 2016 will see a recession worse than 2008's, and there are already 1,000 comments on it!

http://www.cnbc.com/2016/01/15/a-recess ... ntary.html
CNBC says a lot, much wrong. dorco is right, humans are poor predictors. Do your own homework and check on the success rate of alleged gurus. Those who got ONE right (by luck) will not tell you about the dozens of times they got it wrong.
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Re: Royal Bank of Scotland: Sell Everything!!!

Post by dosco »

slackskin wrote:
GA Russell wrote:CNBC says a lot, much wrong. dorco is right, humans are poor predictors. Do your own homework and check on the success rate of alleged gurus. Those who got ONE right (by luck) will not tell you about the dozens of times they got it wrong.

dorco?

Is that an insult or a Fruedian slip?

:)

(actually, it was quite entertaining ... hahahaha)

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Re: Royal Bank of Scotland: Sell Everything!!!

Post by BiffBuff »

Well, here we are at the end of may and the financial wheels appear to be still attached. If there is going to be a meltdown in 2016, it will have to begin fairly soon, or else be sudden and calamitous.

I too am counting on my trusted professional financial advisor to avoid any foreseeable danger (If I lose, he loses too). I guess it's a little like trusting the pilot of your plane not to risk death for themselves.

Anyway, fingers crossed for us all!
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GA Russell
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Re: Royal Bank of Scotland: Sell Everything!!!

Post by GA Russell »

I had forgotten about this thread!

1) When Donald Trump announced his candidacy, he said there there was a bubble about to burst.

2) Yesterday I read a piece by Paul Craig Roberts, who says that capitalism has now entered "the looting stage."
http://www.infowars.com/we-have-entered ... apitalism/
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