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.
Read about it, in the Telegraph, here.
Budget shortfalls pose a direct threat to millions of U.S. jobs, many in the private sector, as state and local governments lay off workers and cut spending on contracts and other business services, a think tank said on Thursday.
State and local governments will have to raise taxes and cut spending in the current and next two fiscal years to cover shortfalls totaling $469 billion, according to an Economic Policy Institute report.
Most telling: According to the New York Times "some down-and-out Mexican families are scraping together what they can to support their unemployed loved ones in the United States."
It's overcast outside; the sky looks like cement. I'm going back to bed.