{"id":8412,"date":"2015-05-23T15:48:38","date_gmt":"2015-05-23T20:48:38","guid":{"rendered":"http:\/\/olduvai.ca\/?p=8412"},"modified":"2015-05-23T15:48:38","modified_gmt":"2015-05-23T20:48:38","slug":"titanic-global-economy-may-collapse-warn-hsbc-gold-is-lifeboat","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=8412","title":{"rendered":"\u2018Titanic\u2019 Global Economy May \u201cCollapse\u201d Warn HSBC \u2013 Gold Is Lifeboat"},"content":{"rendered":"

\u2018Titanic\u2019 Global Economy May \u201cCollapse\u201d Warn HSBC \u2013 Gold Is Lifeboat<\/a><\/h3>\n

-\u201cThe world economy is like an ocean liner without lifeboats \u2026\u201d \u2013 HSBC<\/b>
\n<\/b>– Four areas of high risk identified by HSBC
\n<\/b>– Risk of stock market crash
\n<\/b>– Pension funds and insurers may not meet obligations
\n<\/b>– Chinese recession may drag U.S. into recession or depression
\n<\/b>– Premature rate rise would expose very fragile global economy
\n<\/b>– \u201c<\/b>There aren\u2019t enough lifeboats to go round\u201d
\n<\/b>– Gold vital lifeboat when global ship strikes iceberg \u00a0<\/b><\/p>\n

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\"goldcore_chart1_22-05-15\"<\/a>
\nThe chief economist of the world\u2019s third largest bank, HSBC\u2019s Stephen King, has compared the global economy to the Titanic.<\/p>\n

In a note to clients on Wednesday he wrote\u00a0\u201c<\/b>We may not know what will cause the next downswing but, at this stage, we can categorically state that, in the event we hit an iceberg, there aren\u2019t enough lifeboats to go round.\u201d<\/b><\/p>\n

\u201cThe world economy is like an ocean liner without lifeboats.\u201d As we have been warning in recent months, when another recession arrives, governments do not have the ability or the reserves to prop up the economy like they did in 2008.<\/p>\n

Global debt has soared by 40 percent since the Great Recession. We now have a staggering\u00a0$200 trillion of debt<\/a>\u00a0globally, or almost three times the size of the global economy. It would be a \u201ctruly titanic struggle\u201d for policymakers to right the economy, King said.<\/p>\n

He believes that we are now nearer to the next global recession than we are to the last one which ended six years ago. In that time, however, the world has amassed mountains of new unpayable debt \u2013 expanding 25% in the last six years \u2013 and the U.S. economy has been sluggish despite an unprecedented wave of money printing which was intended to boost the economy. Indeed, post recession growth has never been so anaemic in recent history.<\/p>\n

\"goldcore_chart2_22-05-15\"<\/a><\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

\u2018Titanic\u2019 Global Economy May \u201cCollapse\u201d Warn HSBC \u2013 Gold Is Lifeboat -\u201cThe world economy is like an ocean liner without lifeboats \u2026\u201d \u2013 HSBC – Four areas of high risk identified by HSBC – Risk of stock market crash – Pension funds and insurers may not meet obligations – Chinese recession may drag U.S. into […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[150,366,5613,3372,1154,431,647,3783,2731],"class_list":["post-8412","post","type-post","status-publish","format-standard","hentry","category-economics","tag-collapse","tag-global-economy","tag-goldcore","tag-hsbc","tag-interest-rate-policy","tag-interest-rates","tag-precious-metals","tag-stock-market-collapse","tag-stock-market-crash"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8412"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8412\/revisions"}],"predecessor-version":[{"id":8413,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8412\/revisions\/8413"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}