Dr. Marc Faber on 'Recovery'

Another good one from the publisher of the Gloom, Boom, and Doom report. Though I have to disagree with his assessment that war will result from an American debt collapse. War between major powers is impossible with the nukes we have today. Mutually assured destruction.

There were some good gems here though, especially (paraphrased), “Buy bank stocks. It’s easy to make money when the government gives it to you”. He also has some choice words on Bernanke’s reappointment, and like many of us, laments Volcker’s lack of involvement.

Comments

[Roger Knights:]

"He also has some choice words on Bernanke’s reappointment, "

Here's my paraphrase: Can the kicker.

Aug 30 04:57 AM

[Michael Clark:]

War is not a rational act, although it is sometimes driven by rational impulses, greed, being the major one. How many wars have we had since 1945? Quite a few. No world wars, it's true.

I actually see Europe being involved in the next big war. Maybe we sit it out. Europe is boiling now with the 'Muslim Issue': what to do with the cancer that came in with the Trojan Horse; or how to make Europe 'European' again.

Aug 30 04:58 AM

[Chandragupta:]

Good interview, though it is not clear what exactly he means by War. Will the US invade someone, and why? More likely, there would be internal civil disturbance in the US, triggered by rise in unemployment, poverty, collapse of the dollar, hyperinflation, crime and xenophobia.

Aug 30 05:54 AM

[Roger Knights:]

Here's his wittiest remark: he called governmental stimulus "The crack of boom."

Aug 30 07:06 AM

[Burticus:]

We already have very profitable wars going on now against the invincible esoteric enemies of terror, drugs and poverty (a/k/a war on people).

But, Mr. Faber asks the question about what happens when the global empire with the biggest army/navy/air force, bases in 150 countries and nukes goes bankrupt and its central bank's paper/electrons are rejected as payment?

Based on subtle hints by the gubmint-media complex of sabers rattling, supplemented by George Ure & Cliff High's web bot predictions, it looks like Israel will be attacking Iran this fall, conveniently coinciding with the dollar collapse and GMO/PTB flu epidemic. This will turn out very badly.

Disclosure: Long potassium iodide (KI), N-95 anti-viral masks, gas masks, silver, lead, steel

Aug 30 12:13 PM

[Roger Knights:]

A scene I'd like to see: Faber as a guest-host of Cramer's show.

Aug 30 12:27 PM

[socialismSUCKS:]

At least we have something to look forward to!


On Aug 30 12:13 PM Burticus wrote:

> We already have very profitable wars going on now against the invincible
> esoteric enemies of terror, drugs and poverty (a/k/a war on people).
>
>
> But, Mr. Faber asks the question about what happens when the global
> empire with the biggest army/navy/air force, bases in 150 countries
> and nukes goes bankrupt and its central bank's paper/electrons are
> rejected as payment?
>
> Based on subtle hints by the gubmint-media complex of sabers rattling,
> supplemented by George Ure & Cliff High's web bot predictions,
> it looks like Israel will be attacking Iran this fall, conveniently
> coinciding with the dollar collapse and GMO/PTB flu epidemic. This
> will turn out very badly.
>
> Disclosure: Long potassium iodide (seekingalpha.com/symbo...),
> N-95 anti-viral masks, gas masks, silver, lead, steel

Aug 30 12:34 PM

[Gardener:]

Mutually assured destruction assures nothing. I think it's dangerously naive to believe humans and for that matter governments would not behave irrationally in going to war or a time of it. We are involved in two major wars at the moment, something this country seems to have forgotten. There are more countries with nuclear capabilities increasing every decade. They will be used.

Aug 30 01:32 PM

[Albertarocks:]

I'm not so sure about that. I preferred his comment that "whoever would have been appointed would have been an Obama "poop it".


On Aug 30 07:06 AM Roger Knights wrote:

> Here's his wittiest remark: he called governmental stimulus "The
> crack of boom."

Aug 30 03:02 PM

[untrusting ...:]

Yes that would be interesting, Faber vs. Crammer. See the comment below from one of the truly old hands on Wall Street.
======================...
Referring to the mind-boggling U.S. budget deficit, the quote du jour this week comes from 85-year old Richard Russell, author of the Dow Theory Letters. He said:

Comes the dawn - and the penalty. There’s a price to be paid for Bernanke’s all-out battle to thwart the bear market. And now it’s being told. Yesterday the White House itself admitted that the budget deficit over the next 10 years would be $2 trillion above their original outrageous estimate of $7 trillion dollars.

As I said all along, it would have been better to have allowed the bear market to run its course to conclusion. That would have been extremely painful, but the U.S. would have recovered. However, deficits in the trillions could ultimately ‘break’ this nation. I can’t imagine how Bernanke-Obama plan to handle the coming mind-blowing deficits, plus the interest on those deficits.

The pressure will be on the reserve status of the dollar, the level of the dollar compared to other international currencies, interest rates, and the standard of living of all of us living in the new ‘banana republic’, the United States of ‘bankrupt’ America.

When you take all this in, you can begin to see how this bear market could end with stocks selling below known values and people despising the stock market and capitalism.

======================...


On Aug 30 12:27 PM Roger Knights wrote:

> A scene I'd like to see: Faber as a guest-host of Cramer's show.

Aug 30 04:32 PM