[Satori]

expecting things to get worse?
or
downright collapse ?

Overstock Holds 3 Months Of Food, $10 Million In Gold For Employees In Preparation For The Next Collapse

http://www.zerohedge.com/news/2015-10-2 ... t-collapse

" We are not big fans of Wall Street and we don't trust them. We foresaw the financial crisis, we fought against the financial crisis that happened in 2008; we don't trust the banks still and we foresee that with QE3, and QE4 and QE n that at some point there is going to be another significant financial crisis.

So what do we do as a business so that we would be prepared when that happens. One thing that we do that is fairly unique: we have about $10 million in gold, mostly the small button-sized coins, that we keep outside of the banking system. We expect that when there is a financial crisis there will be a banking holiday. I don't know if it will be 2 days, or 2 weeks, or 2 months. We have $10 million in gold and silver in denominations small enough that we can use for payroll. We want to be able to keep our employees paid, safe and our site up and running during a financial crisis.


We also happen to have three months of food supply for every employee that we can live on."

[Cog]

I wonder who he thinks is going to be buying his products during a crash of that nature. Time to short their stock.

[AgentR11]

Its advertising. Overstock is a retailer... Their message with this advertisement is simply, "buy buy buy! buy more than you need! Now! cause .. well.. REASONS!".

[ennui2]

Not to mention Zerohedge's writing style epitomizing fear-based link-bait.

[dolanbaker]

More evidence that the growth is shrinking!

http://www.bbc.com/news/business-34648409
Economic growth in sub-Saharan Africa is slowing sharply, the International Monetary Fund (IMF) has warned.

In its latest African Economic Outlook, the fund forecasts growth in the region of 3.75% this year, the slowest growth in six years.

Next year, the report forecasts growth of 4.25%.

Low oil and commodity prices, together with a slowdown in the Chinese economy, are the main reasons for the overall downturn, the IMF says.

[EdwinSm]

Getting closer to it, according to this article about a report from OECD which causes them "deep concern".

A "deeply concerning" slowdown in trade, particularly with China, will lead to lower global economic growth this year, the OECD said.

Global GDP is now expected to grow by 2.9%, down from 3% forecast in September, but will pick up to 3.3% in 2016.

The OECD said trade has dropped to levels perilously close to those "associated with global recession".

Worldwide trade growth is forecast at 2% this year, down from 3.4% in 2014. ....

http://www.bbc.com/news/business-34763751

[onlooker]

http://www.theguardian.com/commentisfre ... -recession

Yet there is a parallel collapse in the economic order that is less conspicuous: the hundreds of billions of dollars fleeing emerging economies, from Brazil to China, don’t come with images of women and children on capsizing boats. Nor do banks that have lent trillions that will never be repaid post gruesome videos. However, this collapse threatens our liberal universe as much as certain responses to the refugees. Capital flight and bank fragility are profound dysfunctions in the way the global economy is now organized that will surface as real-world economic dislocation.

Looks like MSM media is catching on.

[Shaved Monkey]

OECD cuts Australian growth forecast to 2.6pc from 3pc

The OECD cut its forecast for economic growth next year to 2.6 per cent from a 3 per cent prediction five months ago. This year's growth was trimmed to 2.2 per cent from 2.3 per cent.

http://www.afr.com/news/economy/oecd-cu ... 109-gkua66
Still 24 years of continuous growth at an average of 3.4 %
China slowdown is the major factor for the downgrade.

[onlooker]

http://www.reuters.com/article/2015/09/ ... I820150924
Caterpillar a leader in heavy manufacturing and mining, has a grim forecast and layoffs thousands. Not a good sign for world economy.

[Pops]

China's imports fall 19% on waning demand
8 November 2015
China saw imports drop for the twelfth month in a row in October giving further cause for concern over the Chinese economy.
Imports by the world's biggest trader of goods fell 18.8% from a year earlier to $130.8bn, a slight improvement on September's 20.4% decline.
Exports dropped 6.9% to $192.4bn, the fourth consecutive monthly fall, as foreign demand waned.

http://www.bbc.com/news/business-34759608
Wow that is pretty huge. We think of China as an exporter but that drop in imports is hurting someone fer sure... Of course some of that is the lower cost of oil imports.

But then we all knew that China was eventually going to slow down at best, crash and burn more likely...

[onlooker]

In all due respect to China, is was not in the cards for China to become a consumer society. The world is a alot different now than when US became a consumer society or for that matter the Asian tigers. Earth is less giving, systemic problems are becoming worse, peak oil etc. China was the ideal manufacturing hub but was not going to be a frenzied consumeristic country unless we could magically renew the Earth to its former glory and even then doubtful.

[onlooker]

onlooker, the Chinese went about it all wrong. Instead of building all those new cities, they might have just followed America's lead and built mile after mile after mile after mile of souless dreary cookie-cutter suburbia. That way everyone is dispersed over crown and creation.

In your car surrounded by asphalt, driveways and parking lots, there is no place to go other than your car. Or the mall. With nowhere to farm or walk or birdwatch all you have it shopping. It works.

Haha, your metaphorically descriptive prose Peter makes it sound like some rather surreal dystopia which in fact it is that US suburbs/mall landscape teeming with cars upon more cars.

[onlooker]

Actually speaking of surreal have you heard Pete of those buildings the Chinese built that I think to this day stand there empty and I imagine creepy, a testament to mindless economic growth.

[onlooker]

0321_ghosts_970-630x420.jpg

here is one view of those buildings.

[Pops]

China instituted a 1 child policy
then came up with a plan to grow the economy on real estate
forgetting they needed the renters
that had been aborted
so now 2-child!

And my fellow lefties wonder why I am a fan of markets.