Marc Faber`s Investment and Trading Ideas - A Tracking Blog About Dr. Marc Faber , Daily Tracking of Dr. Marc Faber Investment Strategy , Market analysis & Outlook and Media appearances
Are we headed toward another Great Depression? Investment advisor Catherine Austin Fitts gives http://www.FinancialSurvivalRadio.com a brutally honest answer to that question
Steve Keen is an Associate Professor in economics and finance at the University of Western Sydney. He identifies as post-Keynesian, criticizing both modern neoclassical economics and (some of) Marxian economics as inconsistent, unscientific and empirically unsupported.
The major influences on Keen's thinkig about economics include Hyman Minsky, Piero Sraffa, Joseph Alois Schumpeter, and Francois Quesnay. His recent work mostly concentrates on mathematical modeling and simulation of financial instability.
Matt Taibbi Talks About Secret Wall Street Committees
Everyone should read Matt Taibbi's "Griftopia." , just when you thought you had figured out how much corruption there is in Washington and Wall Street, you find out you "ain't seen nothing yet."
John Williamsof Shadowstats has repeatedly warned that our economy is not doing as well as some would have you believe. From unemployment to GDP to current and future liabilities, there are fundamental problems that will not be resolved anytime soon - in fact, they're likely to get worse.
The end result according to Williams? A hyperinflationary depression.
John Williams Shadow Government Statistics is a monthly electronic newsletter that exposes and analyzes the flaws in current U.S. Government data and reporting, as well as in certain private-sector numbers. It also looks at the financial markets free of the hype so often put forth in the popular financial media. Generally published on the second Wednesday of the month, the newsletter is supplemented by Flash Updates and occasional Alerts that highlight unusual developments. The publication includes regular analysis of:
* The prior month's reporting (employment/unemployment, CPI, GDP, retail sales, housing statistics, factory orders, trade balance, consumer confidence, purchasing managers' survey and others) including estimates of actual results net of any reporting biases.
* The coming month's reporting, highlighting unusual circumstances and biases that could bring results in above or below market expectations.
* Economic series that are relatively free of reporting biases and what they indicate about the economy and inflation.
* Special features detailing the background of government series not previously explored in the newsletter, along with updates to changes in reporting methodologies for all major series.
*Markets Perspective -- part of the regular newsletter -- where the financial markets are assessed net of ongoing hype from Wall Street, the Federal Reserve and the Administration.
* Alternate Data Series -- covering the CPI, GDP and a continuing version of the discontinued M3 series -- are available for downloading by subscribers.
Subscription Rates: $89.00 for six months, $175.00 for twelve months.
StockSage submits: Tuesday I had the pleasure of meeting Marc Faber for the first time and I thoroughly enjoyed his detailed, logical, and smooth-flowing presentation. Faber is good on television, but he is much better live as he is more open with regard to his disdain for Bernanke, Greenspan, Krugman et al. He even ended the Q&A portion by saying ‘I hope you have a better idea of what to do with your wealth, but what you do with your client’s wealth is another story’. Below I have listed the main concepts that Faber’s presentation impressed on my thinking:Key takeaways from Marc Faber Luncheon- January 11, 2011Complete Story »
FOOD RIOTS HAVE STARTED : food prices are sky rocketing worldwide they're not just goin up by 10% in a lot of cases its an 100% increase or more, causing food riots here and there We have worked extensively to document rising food prices and possible coming food shortages. Now the Food and Agriculture Organization of 55 food commodities has recorded that global food prices hit an all time record in December. ALL evidence points to a dramatic increase in food worldwide. Please take the time to read through the articles provided below and prepare accordingly.
food prices are going up here like crazy they're not just goin up by 10% in a lot of cases its an 100% increase or more,im not even going to mention petrol,diesel,gas & electric,well i suppose i just have mentioned them,the sickening thing is all of the utilities companies will all post record profits this year just like last year & our leaders do nothing about it at all, Food Prices Rise Higher Than Ever As Globalists Predict Food Riots http://theintelhub.com/2011/01/11/foo...
The debate over stimulus, or Keynesian economics, opposed to austerity measures has been debated ad nauseam. This is a compilation of cuts that reflect part of the debate by perceived experts in economic theory. Paul Krugman is a Nobel Prize winning author and economist for the New York Times. Niall Ferguson is a Harvard Professor in economics. The two make arguments in favor of their view of economic theory.
PART 2 Audasity : The debate over stimulus, or Keynesian economics, opposed to austerity measures has been debated ad nauseam. Camera Tricks This is a compilation of cuts that reflect part of the debate by perceived experts in economic theory. Paul Krugman is a Nobel Prize winning author and economist for the New York Times. Niall Ferguson is a Harvard Professor in economics. The two make arguments in favor of their view of economic theory.
Robert Prechter , like always... is a bear , Robert Prechter of Elliott Wave International and Don Luskin of Trend Macro share their opposing market views.
Since August 2009 Prechter is Bearish . In January 2010 he recommended to short the matket using the tripple short funds,
Marc Faber : ....".... the rate of the acceleration of the (US) economy has obviously slowed down and the economy is very large , there are different sectors and different regions and so on some sectors are actually improving and some sectors are are still worsening in general what I think the statics of today the 10% unemployment seem to confirm is that there is a disconnect between the real economy , the real economy being the man in the street who works the middle class the working class and the financial markets market because of all the money printing and the stimulus that has been created by the governments and the central banks does not go into hiring new people and does not go into the construction of new factories and the acquisition of equipments and machinery but it goes into speculation , speculation mostly in commodities and in equities ......"
Market strategist and contrarian investor, Marc Faber editor and publisher, "The Gloom, Boom, & Doom Report" from Vancouver interviewed by Pat Bolland of the Canadian BNN , he talks about the economy and his outlook for investment markets
Jan. 11 (Bloomberg) -- Richard McGuire, senior fixed-income strategist at Rabobank International, comments on the outlook for Portugal's planned auction of 10-year bonds tomorrow and the European Union's policy response to the region's debt crisis. He speaks with Maryam Nemazee on Bloomberg Television's "Countdown" in London.
Jan. 10 2011 |Dennis Gartman, founder of "The Gartman Letter," discusses the Euro zone crisis with the "Fast Money" traders and says he still expects the euro to split into two currencies
Joseph Stiglitz The 2001 Nobel Prize answered questions from french Mediapart about the austerity in Europe , The euro crisis , The crisis of public debts in the western economies and The "failure" of the Keynesian Economic model
Marc Faber - The Economic Problem - Extract from Marc Fabers ' on the Wall, When is the Next AIG to Fall?' presentation , Presented by Marc Faber at "Austrian Economics and the Financial Markets," the Mises Circle in Manhattan on 22 May 2010 in New York, New York. Includes an introduction by Mises Institute president Douglas E. French.
Joseph Stiglitz, Nobel Laureate in Economics, attended a conference on the crisis in Paris. He gives his analysis on the debt of the states and Western Europe.
Oct. 6 (Bloomberg) -- David Rosenberg, chief economist at Gluskin Sheff & Associates Inc., and James Paulsen, chief investment strategist at Minneapolis-based Wells Capital Management, talk with Margaret Brennan about the U.S. economy on Bloomberg Television's ``InBusiness.''gov't spending is calculated the WRONG WAY into GDP: it should be a negative term, not a positive term. so if GDP to debt was 100 trillion vs 50 trillion it's really 50 trillion GDP vs 50 trillion debt (100%).
Nobody seems to be pointing out that the US is fighting 3 battles here - (1) market crash caused by corporate criminals in power, still to be arrested, (2) Free-trade agreements that drained the US middle class of Jobs, and allowed US multinationals to profit greatly on cheap Chinese labor, and (3) The credit / housing bubble that compensated US mainstreet for lack of jobs until it exploded!, thanks to inept polices by the Clinton and Bush adminstrations! 2 & 3 still to be FIXED!!
Paulsen has been bullish going back years. He's always been one to see through rose colored glasses. You could turn it around and say that David Rosenberg is a chronic bear. The problem is that David Rosenberg has been right. He predicted the meltdown and bear market and has been dead on about deflation and bonds being a superior investment. Where I think David Rosenberg may end up being wrong is underestimating Ben Bernanke. I think we end up with hyperinflation. Rosenberg is deflation.what is new is to discover that all nations are willing to have a currency-war debasing all major currencies as a direct and unavoidable response to the job-collapses of free-trade. The consumers are all broke because all their jobs are gone and this problem is PERMANENT. IRREVERSIBLE. Global depression is 100% assured at this point.
A quick extract from ' Marc Faber Outlines the Final End Scenario' Marc Faber, author of Gloom Boom and Doom Report says many Western governments would eventually follow the US 'inevitable' default suit. Outspoken investor and writer Marc Faber doesnt give America much time before it goes bust.
The USA has lost control of its debts - Jim Chanos (07Jan11)
The USA has lost control of it's debts, with President Obama not cutting spending in any meaningful way, and the military spending and "TSA" spending - the biggest drain, continues upwards.
The question is, how much longer will China and net creditors continue to bankroll the wasteful spending, and if the USA will default on it's debts, further crippling it's economy.
You have to say, the USA has bought the predicament onto itself. They are one of a few countries that actually believe in the Keynesian Economics theory of pissing money up a wall in a recession, when you don't actually have any money. Printing money from thin air has made the situation FAR worse, and bailing out the corrupt and insolvent banks was a disaster - they should have been forced to collapse.
The UK got rid of one great fan of Keynesian economics, Gordon Brown, now the USA MUST get rid of Pres. Obama at the next election, or there will be no USA to speak of economically - no matter if they are seen still by suckers as a world reserve currency.
The reserve currency now will return to gold and silver, where it should have been in the first place. A currency back by something physical, not based on hot air and worthless promises of crooked governments and crooked bankers.
Recorded from Newsnight 07 January 2011.
And how do the people that bankroll America like China feel about having their investments devalued? Quantitative Easing will not get the US economy out of the hole they dug themselves in.
David Morgan talks about the run on Gold and Silver. there is no bubble in Gold and Silver , David is very bullish on Silver in particular and calls the next decade the Silver Decade
WAC-DC is pleased to announce the launch of its television series, "World Affairs TODAY", which will air every Sunday afternoon from 2:30-3:30PM on MHz Networks national channel, Worldview TV (for your local listings please visit www.mhznetworks.org). After initial airing, episodes will replay throughout the week and also be available on demand via the internet and gateway boxes.
Our series premier will feature Nobel Laureate Dr. Joseph Stiglitz, Former World Bank Senior Vice President and Chief Economist & The Honorable Roel Campos, Former Commissioner of the Security and Exchange Commission (SEC) as they discuss "Freefall: America, Free Markets, and the Sinking of the World Economy" and examine challenges and options going forward.
We invite you to view a 10-minute screener of our first episode. Continue to monitor us on Facebook as we will continue to preview upcoming episodes over the course of the next few weeks.
Jan. 7 2011 | Chad Wasilenkoff, CEO of Canada's Fortress Paper, which makes the euro for 10 countries and is the sole maker of the Swiss franc, said the company was very busy as a result of quantitative easing and money printing.
Inflation is eating the value of people's pay packets. They should ahve thought about that when they were okay with Labour bailing out the UK's crooked fraudster banks.
Marc Faber: ...".....We have high volatility in all markets, a 10% move is nothing now-a-days. We have very high intraday volatility in the markets. We had never before so many up days with volumes of 9 to 1 and down days with volumes of 9 to 1. The downward volume is 9 times the upward volume and on up days, the up volume is 9 times the down volume. This is most unusual. So we have this volatility and this volatility comes about because the private sector is basically still deleveraging while the government sector is leveraging up. So you have economic and financial volatility in markets that is very high...."
Quantitative easing is designed to bail out the federal debt, but it may presage Weimar.Dr. Hulsmann discusses the evils of central banking and fractional reserves, the blessings of deflation, and how Austrian economists are making vast progress.
Marc Faber:"...Yes, but we have to define tighten. If you have inflation in India and in China running up say around 10%, I don’t believe in China inflation is 4% and if you increase interest rates say from 3-4%, we still have in real terms highly negative interest rates. There hasn’t been any monetary tightening, in such we have increased interest rates. Just as the Federal Reserve, between 2003 and 2006, increased the Fed Fund Rate from 1% to 5.25%, there was never any monetary tightening because credit growth accelerated...." in www.moneycontrol.com
Jeffrey Tucker interviews Bob Murphy, author of 'Lessons for the Young Economist'. Recorded at the Ludwig von Mises Institute in Auburn, Alabama, on 19 November 2010.Bob Murphy One of my favorite living Austrian economist
Erik Hurst is the V. Duane Rath Professor of Economics and Neubauer Family Faculty Fellow at Chicago Booth. Hurst studies macroeconomic policy, consumption, time use, entrepreneurship, and household financial behavior. His research includes "Life Cycle Prices and Production" forthcoming in the American Economic Review; "Social Security and Unsecured Debt" forthcoming in the Journal of Public Economics; "Liquidity Constraints, Household Wealth, and Entrepreneurship," which appeared in the Journal of Political Economy (2004); "The Correlation in Wealth Across Generations," which appeared in Journal of Political Economy (2003); and "Home is Where the Equity Is: Mortgage Refinancing and Household Consumption," which was published in the Journal of Money, Credit and Banking (2002).
Additionally, his research on "Measuring Trends in Leisure," which appeared in the Quarterly Journal of Economics in 2007, was covered by the New York Times, the Washington Post, and the Economist. His current paper "Conspicuous Consumption and Race" explores the differential spending on status goods between black and white households.
Hurst won the 2006 TIAA-CREF Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security for his article about the transition to retirement titled "Consumption Versus Expenditure," published in the Journal of Political Economy (2005).
He was the inaugural recipient of the John Huizinga Faculty Fellowship in 2005 and was awarded the William Ladany Research Award in 2001, which is given to a junior faculty member with promising research potential. In 2006, he was named a Neubauer Faculty Fellow; the previous year he was named a Charles E. Merrill Scholar, an honor given to Chicago Booth faculty who conduct promising research in the area of policy studies. He also has received grants from the Michigan Retirement Research Center and the Department of Health and Human Services. Prior to moving to Chicago, Hurst won two teaching awards while a graduate student at the University of Michigan. Additionally, in 2008, students in the Full-Time MBA Program selected him as the recipient of the Emory Williams Award for outstanding teaching.
Hurst is a member of the Economic Fluctuations Group, Aging Group, and Public Economics Group at the National Bureau of Economic Research.
He earned a bachelor's degree in economics and finance from Clarkson University in 1993. He received a master's degree in economics in 1995 and a PhD in economics in 1999 from the University of Michigan. Hurst joined the Chicago Booth faculty in 1999.
Jan. 4 2011 | When investing in China, Mark Mobius, executive chairman at Templeton Emerging Markets Group, recommends looking at the country's oil & gas as well as consumer sectors. He shares his investment strategy for emerging markets this year with CNBC's Oriel Morrison.
Jan. 3 2011 | Chinese inflation will peak in the first-second quarter, forecasts Chi Lo, CEO at HFT Investment Management. He tells CNBC's Emily Chan that price pressures will moderate towards the end of 2011.
LONDON (Commodity Online): Global investing legend Marc Faber says exposure of investors to gold and silver compared to other commodities is very low. Therefore, price of gold and silver can go to higher levels in 2011 thanks to the low investor base for these precious metals.
Faber who is the publisher and editor of the famous Gloom, Boom, and Doom report, says gold and silver continue to be under-owned, despite the fact that the prices of these two precious metals have been zooming in the last one year.
Marc Faber :".....US and European interest rates are negative in real terms, the rate of inflation is significantly higher than what governments are saying,” “You can see it when you pay for your insurance premiums, your groceries, your child’s pre-kindergarten schooling in New York there has been a loss of pricing power for most people.” Mr Faber said.
By Nathaniel Crawford Investor extraordinaire Marc Faber is out with his latest Gloom, Boom, and Doom report, which discusses his outlook for 2011. Here are a few highlights:
1. Equity Markets–Faber believes a correction is imminent for the stock market as bullish sentiment (AAII sentiment) nears record levels and mutual fund cash positions remain very low. Furthermore, the latest upward move in stocks has occurred on declining volume, which is usually bearish from a technical point of view. The correction should occur in January. That being said, you should be buying into the correction as it represents a good buying opportunity. Faber prefers energy companies and speculative stocks such as home builders and even AIG. He goes on to say that the third year of a Presidential cycle is very good for speculative stocks versus traditional blue chip value plays. Read Full article >>>> at http://wallstreetpit.com/55289-marc-fabers-january-2011-outlook-correction-imminent
Rising fuel and food prices in India are reviving inflation fears. During the past year, the nation's food price index rose 12.13 percent. Basic vegetables are of main concern as consumers complain about being unable to afford certain dietary staples. The price of onions, for example, has risen by 350%. Up-scale restaurants have also seen a steady increase in prices these last six months, effecting their profit margins. Although they are able to absorb the price hike right now, the question that remains is: for how long? In an effort to ease the sting, India's embattled government banned onion exports and scrapped import duties. High food inflation has dislodged state governments in the past. India's Congress party that leads the ruling coalition has to come up with a solution before the partial state elections later this year. Al Jazeera's Sohail Rahman reports.
Dec. 31 2010 | Discussing the way inflation works now and market predictions for 2011, with Jason Trennert, Strategas Research Partners, and Rex Macey, Wilmington Trust.
John Williamsof Shadowstats has repeatedly warned that our economy is not doing as well as some would have you believe. From unemployment to GDP to current and future liabilities, there are fundamental problems that will not be resolved anytime soon - in fact, they're likely to get worse. The end result according to Williams? A hyperinflationary depression.
Respected Walter J. "John" Williams says govt may start giving out free toilet paper...er...money! economist John Williams, editor of ShadowStats.com, a popular website that tracks real inflation figures, is advising that people hoard physical gold as well as food items in bulk so that they have some means with which to barter as the economic crisis turns ugly.How far down the rabbit hole do you want to go? well it isn't getting better... what is it going to be like end of the year? or end of 2011?
I hope people are trying to protect them selves.. John Williams from shadowstats.com about the U3 cooked numbers from the government still reading about bank closures coming.John Williams from ShadowStats.com says buy and store scotch! Put everything you got into canned food and shotguns! And horde scotch and gold oh and buy ammo i think ammo would be a great currency in the future especially if the dollar collapses. 7.62x39 mm and 223
also get handgun ammo, and mres, lambs, pigs, goats, all can be used for barter. hell even rabbits cheap to raise and fur is worth good money.
Three or four years into the future I think we could be in a hyperinflation, within the current year youre going to see much higher inflation than most people are looking at, John Williams told MarketWatch.
Williams said that his definition of hyperinflation would be a situation in which a $100 dollar bill would become more functional as a piece of toilet paper than a store of value.
This is a time when you want to preserve your wealth and assets because inflation will knock the value out of it, he added, advising that people buy physical gold and assets other than the U.S. dollar.
Then when the hyperinflation hits youll see disruption of normal commerce, you wont have enough $100 dollar bills to buy what you want, said Williams, adding that items to barter with, such as a bottle of scotch, would be more valuable than actual cash, even in large quantities.
Williams said that such items should be procured now in bulk so people had some means with which to barter and get them through rough times.
At least as far back as April 2008, six months before the collapse of Lehman Brothers and Bear Stearns, Williams predicted that the world economy was entering a phase of hyperinflationary depression that would peak in 2010.
In a hyperinflation special report, Williams said that the U.S. was on an irreversible course of financial armageddon that would likely lead to extreme political change and/or civil unrest.
Top trends forecaster Gerald Celente has echoed Williams advice, remarking recently that putting food on the table will become a primary concern over buying gifts at Christmas.The J.P. Morgan [banking] interests and Global Bankers found it was only necessary to purchase the control of 25 of the greatest papers. ...an editor was furnished for each paper to properly supervise and EDIT information etc etc
Define HIGH TREASON America, do Police Protect Criminals Now?? G20? this is what happens when you do not include home prices in the inflation index, when you let home prices increase to high that means personal debt is really huge ie mortgages in order for people to pay off all these mortgages you have to keep increasing the money supply or face a shortage of cash to pay off these huge debts
Austerity measures are typically taken if there is a perceived threat that government cannot honor its debt liabilities. In such situations, inter-governmental institutions such as the International Monetary Fund (IMF) come in and demand austerity measures that on average have not yet been proven to be productive. Opponents argue that austerity measures depress economic growth, which ultimately causes governments to lose more money in tax revenues. In countries with already anemic economic growth, austerity can engender deflation which inflates existing debt. This can also cause the country to fall into a liquidity trap, causing credit markets to freeze up and unemployment to increase. Opponents point to cases in Ireland and Spain in which austerity measures instituted in response to financial crises in 2009 proved ineffective in combating public debt, and placing those countries at risk of defaulting. Such measures are presently being set in motion in the united states of America states such as Indiana and New Jersey, California is a likely candidate and many more will follow as the economics woe's of the United States of America come to grip, forcing many states to accept such measures that will eventually lead to the break up of the United States, Canada, and Mexico creating a IMF imposed North American state nation.
Author and filmmaker Bill Still tells http://www.FinancialSurvivalRadio.com that the bond market is headed for a major crash, with many states and cities no longer able to service their massive debt loads. So, what will that look like when the day of reckoning finally arrives?
Robert Shiller, co-creator of the index joins the Wall Street Journal and shares his perspective
. The Standard & Poors/Case-Shiller index's most recent report shows that home prices across America are declining . For economists, this is yet another unexpected sign that the economy is slowing. but this was to be expected.It's very simple... Option ARMs and Alt+A mortgages are resetting and causing more people to go into foreclosure, shadow inventory continues to pile up, long term interest rates have spiked recently, unemployment numbers continue to rise, bearishness on the overall economy continues to rise, and foreclosure-gate has decimated faith in the system. In this environment, why in the world would anyone expect anything but falling prices?
Opening remarks at the Bromsgrove Monetary Reform Conference in Bromsgrove, UK, Oct. 29, 2010. A micro-funding site for my new book, "No More National Debt". To check it out, go to KickStarter and search for Bill Still.
according to Bill Still gold money is fiat money too.Gold money is even more manipulatable by the bad guys. It's not what backs the money, it's who controls its quantity. If the bad guys want to cause a depression they just don't lend out their gold coins or their electronic equivalents.Bill Still said Bill Still recently released a documentary called "The Secret of Oz".
George Soros, Joseph Stiglitz, Elizabeth Warren, Robert Johnson, and more discuss the ramifications of financial reform - from the Make Markets Be Markets report, sponsored by the Roosevelt Institute.Video taken from the Make Markets Be Markets conference,New York City.The views expressed in this presentation are those of the speakers and do not necessarily represent the positions of the Roosevelt Institute, its officers, or its directors.
Speakers include Simon Johnson, George Soros, Michael Konczal, Joseph Stiglitz, Peter Solomon. Jim Chanos and some others.
Dec. 27 (Bloomberg) --William Black, associate professor of economics and law at the University of Missouri-Kansas City, talks about the outlook for the U.S., European and Chinese economies. Black speaks with Carol Massar on Bloomberg Television's "Fast Forward."
Nobel laureate Joseph Stiglitz and former RBI governor YV Reddy on QE2 impact on the US economy, dollar devaluation and currency wars, India's inflation problem and a whole host of other issues , in the second part : Nouriel Roubini and Raghuram Rajan on the benefits and risks of quantitative easing, the rush of funds into emerging markets and India's growth in 2011.
Marc Faber :"....All EMs have significantly outperformed the US and Japan over the last two years or so. Now with monetary conditions tightening somewhat in the world, we see interest rates going up everywhere. We could have a period of under-performance. The news about emerging economies has been very favorable. To a large extent, these favorable economic developments have already been discounted by the stock markets." via www.moneycontrol.com Dec 10, 2010
Modern economics is a subject that today's students must understand in order to protect their tomorrows. Inflation, the creation of money, and the regulation of the economy are explained. the banks in fact create money from *nothing* to a leverage ratio of 30 to 1 (and more), and then profit from the interest on the money they created from nothing! Also it's not the "governments" that create the money directly, they borrow it from private banks *at interest*. Therefore the is *no way* to "balance" our current economy by increasing money supply without getting into debt servitude to private banks.
The issue is not what money is backed by but who controls its quantity. In history GOLD was used as the ONLY money standard in order to crash the economy into a depression. It is SILVER which is the key. When gold AND silver was in circulation the money was plentiful and the economy thrived . Then when they removed the silver standard you could only buy & sell in gold. This KILLED the economy. GOLD is scarce . Remember its who controls its QUANTITY that counts !
Marc Faber :" The entire energy sector including natural gas is probably relatively attractive because the global economy could surprise on the upside. In other words, the EMs continue to grow and the oil demand continues to grow, especially out of China and India. The Europe and US stabilizes and also recovers somewhat, in which case the demand for oil will go up and drive up prices." via www.moneycontrol.com Dec 10, 2010
Milton Friedman Biography from Wikipedia :
Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist, statistician, a professor at the University of Chicago, and the recipient of the Nobel Prize in Economics. Among scholars, he is best known for his theoretical and empirical research, especially consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy.[1] He was an economic advisor to U.S. President Ronald Reagan. Over time, many governments practiced his restatement of a political philosophy that extolled the virtues of a free market economic system with little intervention by government. As a leader of the Chicago school of economics, based at the University of Chicago, he had great influence in determining the research agenda of the entire profession. Milton Friedman's works, which include many monographs, books, scholarly articles, papers, magazine columns, television programs, videos, and lectures, cover a broad range of topics of microeconomics, macroeconomics, economic history, and public policy issues. The Economist described him as "the most influential economist of the second half of the 20th century…possibly of all of it".
Speaker: Professor Joseph Stiglitz Chair: Professor David Held ,This event was recorded on 8 February 2010 in Peacock Theatre, Portugal Street ,Stiglitz lays out not only the course of the financial crisis which began in 2007, but its underlying causes, and shows why much more radical reforms are needed than are currently being contemplated if we are to avoid similar 'systemic' crises in the future. Showing why the bailout has been only marginally effective and how it could have been much more so, and outlines the enormous opportunity - not yet taken - to design a new global financial architecture.
Marc Faber : .....we have to distinguish between the stock market and the economy as you know the real economy begun a recession in late 2007 and then between September 2008 and March 2009 we fell off the cliff and then we were at the very low level of economic activity then the huge stimulus packages kicked in and the money printing kicked in in other words zero interest rates and quantitative easing by the federal reserve and also other central banks , that then stabilized the global economy and when you have car sales dropping 50 percent and more then you gonna of course have a rebound , but the question is how sustainable the rebound will be or is this rebound at the present time actually borrowed from the future , and in my sense , here I am talking about the economy that the economy in near term can recover may be the recovery will be somewhat lengthier than expect , then crack up boom because the first stimulus package in the US probably will be followed by a second one and money printing will lead to even more money printing next years so it could last say twelve to eighteen months and then we will get another set of problems rising from each government action has unintended consequences ..."....etc...
the above transcript was done manually and hence it is very approximate...
Marc Faber:"....My principal criticism is that the Federal Reserve can drop dollar bills onto the United States from helicopters as Mr Bernanke says - not from helicopters but electronically they can print money. The criticism I have is that Fed can control the quantity of money quantity that it drops onto the United States. But they do not control where it will flow to and this money has flown through the American trade and current account deficit to emerging economies and this has boosted the growth rates in emerging economies and their currencies. So the benefit of expansionary monetary policies has not been felt in the United States, but in emerging economies and that is my main criticism.... " via economictimes.indiatimes.com 28 Sep, 2010
Storm clouds continue to gather, A hard rain is soon to fall.we continue to walk in the path of false prosperity using a dollar printing press
Get ready people, hard times are coming. We are about to become just another banana Republic; a second world nation.
If you have any money left at all, and while it still has value, I would invest it in these things, and in the order that I list them. You will need: guns, ammo, water, food, clothing, survival equipment, gin or whiskey (for medicinal purposes), bars of gold (if you lose your guns you can hit someone over the head, and take their guns), silver (same use as gold).
Collect as much junk as possible, you'll need it to make stuff for yourself, because there'll be no more imports from China; the world will be in chaos, you will have to fend for yourself. America has 100 trillion dollars in unfunded liabilities according to Rep. Ron Paul.
You better rethink your position.
You also, might think about investing in livestock.
Bloomnberg TV : So then - but you have a lot of your investments in Asia, Marc. Then what are you doing? Marc Faber :"...Well, as recently, but I've been lightening up. I still have positions because I don't see a lot of alternatives. I own gold and silver. And I own real estate. And I own equities. But I'm not attracted to buy US treasuries at this stage, although I have to say maybe in the very short run, say the next 10 days to two weeks, treasuries could rebound in kind of a technical rebound. But that isn't the long-term view. I think in the long run, interest rates will go up. And they'll be eventually significantly higher. In my view, the 10-years treasury note yield should be around 5 percent...." Marc Faber in Bloomberg Television Dec 09 2010
Marc Faber :"...In general, investors should one day have approximately 50% or more of their money in emerging economies. I have all my money in emerging economies for the money that they allocate to real estate and to equities. Of course I also have bonds in the developed world and also cash in on the developed world, but in general, I am very optimistic about the emerging economies. But that does not change the fact that over the last few months, in fact since April because I saw that April would be a high for the S&P at 1219, I have taken some money off the table because a correction is overdue. "
Dec. 21 2010 | Gilles Moec, senior European economist at Deutsche Bank joined CNBC on Tuesday with the Spanish parliament due to vote on the country's 2011 budget and after the country's last scheduled debt auction for 2010.
Dec. 20 2010 | Moody's warned that the tax bill could have a negative effect on US debt. Now that the bill has passed, there are some concerns US Treasurys could be downgraded. Peter Morici, a professor at U of Maryland; Rodney Anderson, author of "Credit 911"; and CNBC's Eamon Javers discusses the likelihood of that scenario.
MARC FABER : Ireland,Spain,Greece,Portugal,Belgium are the rotten apples.
Marc Faber :...I think what you need to avoid are government bonds , now can they rally for ten days , could be the case but in general you do not want to be in sovereign bonds certainly not of countries like Spain Portugal Greece Ireland Iceland and so forth because they would have to be restructured . but the problem is usually when you have bad apples in your family the whole family becomes rotten so all the European governments in my opinion will have government debt that probably will become difficult to pay off or even meet the interest payment on the government debt ......The world has over six billion people we have 1.3 billion in China one billion in India and I live in Asia , Asia has 3.6 billion people it's a growing region it's demographically young with the exception of Japan and so I have a special knowledge about Asia and therefore I also invest in Asia and I have two or three investments in Switzerland but hardly any..... On a global scale whether Ireland exists or doesn't exist even if Spain exists or doesn't exist , or Belgium exists or doesn't exist it's completely irrelevant , it's sad to think of one's self that I am completely irrelevant but that's a fact of economic life today .......
Marc Faber :"...The entire energy sector including natural gas is probably relatively attractive because the global economy could surprise on the upside. In other words, the EMs continue to grow and the oil demand continues to grow, especially out of China and India. The Europe and US stabilizes and also recovers somewhat, in which case the demand for oil will go up and drive up prices. On the other hand, if the world again goes into recession, it will be accompanied by significant geo-political tensions, in which case there could be oil interruption and oil would also rally. In either case, oil will stay high...." via moneycontrol.com
well it isn't getting better... what is it going to be like end of the year? or end of 2011?
I hope people are trying to protect them selves.. John Williams from shadowstats.com about the U3 cooked numbers from the government still reading about bank closures coming.John Williams from ShadowStats.com says buy and store scotch! Put everything you got into canned food and shotguns! And horde scotch and gold oh and buy ammo i think ammo would be a great currency in the future especially if the dollar collapses. 7.62x39 mm and 223
also get handgun ammo, and mres, lambs, pigs, goats, all can be used for barter. hell even rabbits cheap to raise and fur is worth good money.
Three or four years into the future I think we could be in a hyperinflation, within the current year youre going to see much higher inflation than most people are looking at, John Williams told MarketWatch.
Williams said that his definition of hyperinflation would be a situation in which a $100 dollar bill would become more functional as a piece of toilet paper than a store of value.
This is a time when you want to preserve your wealth and assets because inflation will knock the value out of it, he added, advising that people buy physical gold and assets other than the U.S. dollar.
Then when the hyperinflation hits youll see disruption of normal commerce, you wont have enough $100 dollar bills to buy what you want, said Williams, adding that items to barter with, such as a bottle of scotch, would be more valuable than actual cash, even in large quantities.
Williams said that such items should be procured now in bulk so people had some means with which to barter and get them through rough times.
At least as far back as April 2008, six months before the collapse of Lehman Brothers and Bear Stearns, Williams predicted that the world economy was entering a phase of hyperinflationary depression that would peak in 2010.
In a hyperinflation special report, Williams said that the U.S. was on an irreversible course of financial armageddon that would likely lead to extreme political change and/or civil unrest.
Top trends forecaster Gerald Celente has echoed Williams advice, remarking recently that putting food on the table will become a primary concern over buying gifts at Christmas.The J.P. Morgan [banking] interests and Global Bankers found it was only necessary to purchase the control of 25 of the greatest papers. ...an editor was furnished for each paper to properly supervise and EDIT information etc etc
Define HIGH TREASON America, do Police Protect Criminals Now?? G20? this is what happens when you do not include home prices in the inflation index, when you let home prices increase to high that means personal debt is really huge ie mortgages in order for people to pay off all these mortgages you have to keep increasing the money supply or face a shortage of cash to pay off these huge debts
Marc Faber: In general, emerging markets have been weak relative to the US and relative to Japan and for the next six months emerging markets (EMs) will not perform all that well."
"In India we had a market that performed superbly between March 2009 and just about three weeks ago. It was ready to come on the profit taking anyway. Now we have this profit taking phase and it will last for a while"
"We could easily in emerging economies have a correction of 20-30%." Marc Faber added
MARC FABER: "....I think increasingly, investors begin to realize that between the Republicans and the Democrats, the Republicans don't want to increase taxation, and the Democrats don't want to cut spending. And so the deficit in my opinion will stay above $1 trillion for as far as the eye can see...."
Marc Faber : "....I don't think it will double dip for now. And we live in a global economy today. And you have part of the global economy that are relatively weak, like the U.S. and Europe, although from the lows, they have recovered somewhat. But then you have other parts of the world that are still very strong, the emerging economies, in particular China and India. Now the big question is obviously what will happen to that part of the global economy because that has been driving overall economic growth in the world. And I think the Chinese economy is decelerating. And I think that next year there could be some significant disappointments. "...Marc Faber told Bloomberg on 12/9/10
an excerpt from the dialogue between Bloomberg's LIU and Doctor Marc Faber editor and publisher of the GLOOM, BOOM, AND DOOM REPORT LIU: ...So then, Marc, if you would buy into treasuries on a rebound, would you also buy into equities at all then, U.S. equities?...
MARC FABER: ...Well, I mean, U.S. equities come up reasonably well compared to emerging market equities at the present time. This is not a long-term call. But tactically, right now, I think the US market may actually outperform emerging markets. The market I like actually best is the Japanese stock market.... LIU: ...The Japanese market? Well, that's an idea. Marc, we'll have to leave it there. Good to talk with you. Marc Faber there from Thailand. ...
Marc Faber : “The Europe and US stabilizes and also recovers somewhat, in which case the demand for oil will go up and drive up prices,”
“If I look around markets, we had a very negative sentiment about the euro six months ago. Recently, we had a very negative sentiment about the US dollar. From this very low sentiment level for the US dollar where everybody hated the US dollar, in other words we can have somewhat of a recovery.” Marc Faber told India’s CNBC TV channel recently
Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager.
Jim Rogers betting against JPMorgan
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Investor Jim Rogers is betting against JPM...
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The Currency War Is Bullish For Gold
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On April 12, the Fed's agents hit the market with 500 tons of naked
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