First, a reminder:
Now, on with the news.
Benzinga - RBS analyst Andrew Roberts says sell entire investment world, buy disused nuclear bunkers. Quote:
For investors hoping that global markets can bounce back from their weak start to 2016, RBS analyst Andrew Roberts has some bad news. In a new report, Roberts says that that things will get much worse from here and urges investors to “sell (almost) everything.”
Here’s a breakdown of Roberts’ themes for the investment world in 2016.
- Bearish China
- Bearish commodities
- Downside in oil to $16/bbl
- Lackluster global growth/widening of global output gap
- Global currency wars
- Most emerging markets (other than India and Eastern Europe) will underperform
- Automation will continue its expansion and will ultimately replace up to half of all jobs in the developed world
That last point there is great. Basically he's saying we will all be destroyed by killer robots.
One wonders if any of the companies building killer robots will make a profit. Because it's going to take one hell of a boost to US investment to build enough killer robots. That should also mop up a lot of excess savings, in which case boom! we've spent our way out of the deflationary trap after all.
One also wonders if these killer robot manufacturers are also going to profit from the collapse in commodity prices (since killer robots are made out of stuff), the collapse in oil (since building killer robots requires energy), and the collapse of EM economies (which will mean less competition from killer robot manufacturers in Hainan).
One further wonders if the corporations buying these killer robots are going to profit from improved productivity.
One yet even further wonders if Andrew Roberts was even alive during the previous EM/commodity collapse and killer robots boom in the 90s, or if he ever got as far as 3rd year economics where we actually learn that EMs and commodities are countercyclical to DMs so of course they fucking go down.
Well, it's not as if anyone else has paid any attention to this clown....
The Guardian - RBS analyst Andrew Roberts says oh fuck we're all going to die.
The Telegraph - RBS analyst Andrew Roberts says brace for deflationary cataclysm.
Oh whatever. Here, go read a pdf of his doomporn if you want.