The Euro ‘Event’ Will Cause Depression: HSBC

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Patrick Allen
CNBC
November 7, 2011

[…]

With cross-asset correlations at an all-time high according to HSBC, Bloom says market participants are comparing the current Greek crisis to Lehman Brothers and has this warning for investors: “Market stresses are currently far worse than after Lehman and the event which people are worried about has not even happened yet!”

“Despite this, perceptions about the possibility of the event are already driving markets to an unheard of level,” said Bloom.

When the event, whatever it is, does actually happen it will be very bad news for the global economy according to Bloom.

“Were the event to actually occur it would lead to the great depression Mark II,” said Bloom.

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11 Responses to “The Euro ‘Event’ Will Cause Depression: HSBC”

  1. HSBC should well know how this all turns-out, after all they were (are) up to their eyeballs in bringing it all about. There’s nothing like having a serial killer telling us where all the bodies are buried.

  2. When a bank tells us what is going to happen if they don’t get their way, it’s not a prediction. It’s a threat.

  3. Expect the threat to materialize… regardless of what else happens.

  4. HSBC hold your hats on for if that happens you also are in big big trouble.

  5. Gee, do they mean the Depression we’ve been in for 3 years already?

  6. Elementary Dr. Watson. Calling the coming crisis an economic depression is the unerstatement of 26 centuries.

    ALL HELL WILL BREAK LOOSE. YOU MAY QUOTE ME ON THIS.

  7. Wake up, America. We are already in a depression!

  8. Things could always be worse someone told me long ago and definitely some truth to that. We are already in a depression for sure but sad to say things are going to get even worse over the next couple of years.

    Here is what I see happening even if WWIII doesn’t break out..

    Derivatives in the markets will eventual crash everything and everyone invested or have 401k will lose most everything they have.

    The Fed will keep printing money to new record levels devaluing the US dollar even more and another possible downgrade by the SP which increases the interest on money borrowed and financing of all kinds.

    Other countries already want to get away from having the toxic US dollar as the world’s reserve currency and will either opt out at the minimum but eventually a new monetary system will either be chosen as the reserve or a new currency will be formed. Losing reserve status will raise the prices on everything in the US, especially oil, and then the US can no longer print itself out of life support.

    With the previous stated there will be more businesses going under, less jobs, skyrocketing unemployment, rise in crime and violence, rise in protests that are more destructive and violent.

    Meanwhile the federal government will be using everything they have to fight off the angry mobs and probably kick their eugenics plan in to full throttle. FEMA camps will be used to contain the prisoners. Probably enacting some kind of re-education camps.

    ..this is without WWIII. With it we might as well kiss our *sses goodbye on this planet.

  9. “..this is without WWIII. With it we might as well kiss our *sses goodbye on this planet.” – dncholas

    One reaches a point where he can only remark (sarcastically) as to what a great loss that would be :=)

    For my part, I care about the animals, though. Dogs are awesome, and have better character than most people. They are loyal, dependable, and don’t have hidden agendas, and don’t rip you off. They would lay down their life in a heartbeat for you, while most people would snuff it out if they had something to gain. I just hope things with Iran remain conventional. If it goes nuclear, dogs might be affected :=) :=)

  10. The hidden miessage in the article is: “Gimmie your frick’n Money or we’ll Bankrupt the Planet” and it’s in German zis time.

  11. chaos = low frequencies multi dimensional lower frequencies.
    They are present in our 3rd dimension and humanity has been infiltrated a long long long time ago.

    in the low frequencies you find Lucifer and his copies

    in the higher frequencies there is God and his creations.

    right and wrong, positive and negative, good and bad, light or darkness, peace and love versus war and hatred………..

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