"Merill Lynch Advises Clients of 100% Possibility of Deep Double Dip Recession" (Need Help Verifyi

I did not want to be one of "those" guys that posted a thread siting sources and people that cannot be verified, so in an effort to preserve the identity of my "source" I am asking ATS for some help in getting credible, and verifiable information on this.

Here is the break down of events, I was hanging out this weekend with some family and friends, some of whom are well lets call them upper middle class. We were sitting around talking about general BS, the game, the weather, and a few other topics, when the topic of the economy was brought up.

A close friend started mentioning how things had slowed drastically at his work, which for this time of year is not unheard of, and a few others chimed in with details of their work, and how things were going. Then one of our wealthier friends spoke up and asked us how we had handled our investing. Without much thought everyone just pretty much said the basics, 401k's, CD, Stocks, and so on.

This is when he seemed hesitant to speak up and a little worried, he asked if any of us had a financial adviser, or anyone we knew managing our investments. A few of the guys spoke up, but most of us are not "that" wealthy, so we said nothing. He leans forward and says, "look I have been instructed from a close friend in Merill Lynch that a deep double dip recession is about to hit, and he has advised me that I should be moving my assets to safer investments."
We all kinda just looked at each other and started to chalk it up to an overly cautious adviser. This is when he says "look you don't understand he has given me a list of specific investments that they have deemed the least likely to be effected by this recession." "He says that their analysts have confirmed this thing 100%"

This has stuck with me since he said it, so when I came home I started looking for verifiable proof on the internet, but I have not been able to find any information that is recent. So here I am asking for ATS members help. It is not that I don't trust this person, in fact it is the opposite. What I am looking for is just verification, that they know something is coming, and we don't.

Thanks for any input

SpaDe_

If anything, the recent US jobs bill plus the fact that Germany is going to allow Greece to default is probably evidence enough that recession or depression will be the term applied to the state of the US economy.

By the way, what are those investments least likely to be hit?

reply to post by asperetty


He didn't say, and I don't know that he wanted to. A couple of the guys were giving him a hard time because he is pretty well off. When I see him again next I will ask him. I would have asked him this weekend, but we didn't really get any one on one time, and I don't really like to pry into people private lives. Some people get weird when it comes to talking about their money.

Im surprised he didn't tell you guys after he said he received a "list". I dont meant to question your friendship but from his position you would think he would name some items off that list, and from your perspective im surprised you didnt ask him more questions.

I hate these "a friend told me this " stories
No way to verify anything..
Sorry spaDe no slam,. just have seen this many times before.

Originally posted by Lil Drummerboy
I hate these "a friend told me this " stories
No way to verify anything..
Sorry spaDe no slam,. just have seen this many times before.

edit on 11-9-2011 by Lil Drummerboy because: (no reason given)

None taken at all, that is why I am asking for help in verifying this. I understand the issue with believing this 100%, because I too have seen too many of the "a friend to me XXX" threads. I really did not want to have to post it this way, but I have searched around, and have come up with nothing. I am hoping that maybe another member here can either verify this, or maybe even know someone who has received the same information.

reply to post by SpaDe_
I have been in a wait and see mode for months,.
A Co-worker of mine has been a bit freaked out and has been selling Many stocks
and personal Items lately,.. Who knows.
Hell I just $pent a week in Maui

No worries here

This is actually the first "heard from a friend|" story I've been interested in. You should know (if this is all accurate) that him disclosing information to you (specifics) would be a breech of trust. So, that being said, if you do find out more info, you may not want to post it here.

Or go ahead... At least you will be the first person to prove a "heard from a friend" story.

Depending on the nature of the investments on this list having more people buy into it could make it even better. That would mean spreading the word could make it better for everyone.

Originally posted by mus8472
Depending on the nature of the investments on this list having more people buy into it could make it even better. That would mean spreading the word could make it better for everyone.

Similar to a pump and dump scheme?

This isn't anything startling or surprising. I am 100% out of stocks at this time, and I would recommend the same to anyone. We are entering some (even more) turbulent economic waters. Protect yourself.

Originally posted by mus8472
Depending on the nature of the investments on this list having more people buy into it could make it even better. That would mean spreading the word could make it better for everyone.

You make a good point, but since he didn't pump anything, it makes his warning more legitimate. This is not really a shocking warning anyway, in my world things are getting worse financially month by month, and the world news does seem to back this double dip as just about inevitable. Hope the dip is not a steep fall.

Originally posted by Lil Drummerboy
reply to post by SpaDe_

 

I have been in a wait and see mode for months,.
A Co-worker of mine has been a bit freaked out and has been selling Many stocks
and personal Items lately,.. Who knows.
Hell I just $pent a week in Maui

No worries here

No worries? Are you out of the market? Are you vested in metals? What makes you untouchable?

I think it's a little humorous that this thread received modest attention. While the threads with stories like "my friend works at nsa and aliens are about to invade" bring in dozens of people defending the OP.

This is actually something that has a high probability of coming true.

Oh well might as well enjoy life i just bought a $50k truck to haul my 5th wheel. So if they start looking for me.???? Getting 8 6 volt batteries and 2 solar panels next week. I have a large hunk of land and money in cash for the taxes. i can disappear if needed

reply to post by SpaDe_


By what I do know and from what your friend told you.....it sounds about right!

Sorry, I posted and bailed last night. Fell asleep trying to figure out different ways of positively verifying this without prying into my friends personal life. I looked around more, and still have come up with nothing.

reply to post by SpaDe_


Do we really need verification that a double dip is coming, and orchestrated?

Merill Lynch is playing both hands, because they and the 2 different spans of customers are poised to gain when this happens.
One more so then the other.

reply to post by macman


I was just looking for more information on how/why they are "openly" stating this to certain clients. I would also like to know if this is being told to all clients, or just certain clients that meet certain requirements. I know that it's coming regardless. Bank of America just finalized their plan today to lay off 30k people from their work force in an effort to reduce their expenditures by $5 billion. If the economy was all rainbows and unicorns they wouldn't need to do that.

Originally posted by SpaDe_
reply to post by macman

 

I was just looking for more information on how/why they are "openly" stating this to certain clients. I would also like to know if this is being told to all clients, or just certain clients that meet certain requirements. I know that it's coming regardless. Bank of America just finalized their plan today to lay off 30k people from their work force in an effort to reduce their expenditures by $5 billion. If the economy was all rainbows and unicorns they wouldn't need to do that.

The first release, as in the bad outlook I think was never meant to be seen by people other then the high up clients.
The other release is a blanket, standard statement in order to drive more business to them.
They are almost self serving, even with the first release going public.
Kind of like betting on black and red at the same, all the while telling people that the casino is great.