lithgowk

Marc Faber on the Economy, Gold, WWIII

Faber isn't making social policy, he making investment insights. He says that when the social policy wonks try to influence the economy, they cause havoc. But they also crete opportunities for the shrewd and the swift.


On Jan 07 01:53 PM Skjellifetti wrote:

> Farber's world view admits no shades of grey. A mixed economy such
> as we have today and which has given the world one of the greatest
> economic growth stories in human history is not acknowledged as a
> legitimate choice.You are either capitalist or communist.
>
> Farber's world view allows but a single cause for our current mess.
> The fact that many shady mortgage lenders chose to make risky loans
> to underdocumented and poor risk borrowers or that many borrowers
> chose to leverage their homes to the maximum extent possible based
> on the hype that home prices would grow forever at a 20% rate is
> not possible in his world. Nope, it was all the governments fault.
>
>
> Farber's world view has no room for compassion. Does he think that
> those people in Detroit who have worked hard and saved all their
> lives but have now lost their jobs and are in danger of losing their
> homes and healthcare and everything else as a result of the poor
> choices made by others should be left to their own devices? Why not,
> he is still rich. Why should he care?
>
> Farber may be a great investor, but I would never let such a narrow
> minded ideologue make social policy for the rest of us.