Davos Annual Meeting 2011 - What Is the New Economic Reality?

Davos Annual Meeting 2011 - What Is the New Economic Reality?



http://www.weforum.org 26.01.2011
The notion of a "new normal" is premature given the fragility of the global economy, but the elements of a new economic reality appear to now be in place.

In partnership with the World Economic Forum, Time magazine hosts this debate focusing on the elements of the new economic reality.

• Azim Premji, Chairman, Wipro, India
• Nouriel Roubini, Professor of Economics and International Business, Leonard N. Stern School of Business, New York University, USA; Global Agenda Council on Fiscal Crises
• Sir Martin Sorrell, Chief Executive Officer, WPP, United Kingdom
• James S. Turley, Chairman and Chief Executive Officer, Ernst & Young, USA
• Min Zhu, Special Adviser, International Monetary Fund (IMF), Washington DC; Member of the Foundation Board of the World Economic Forum; Regional Agenda Council on China

Moderated by
• Michael J. Elliott, Editor, Time International, and Deputy Managing Editor, Time Magazine, USA

Marc Faber : Obama has done a horrible job and nothing has changed

Marc Faber Expects 10% Drop in S&P 500, Says Stocks Expensive

Jan. 25, 2011 (Bloomberg) -- Marc Faber, publisher of the Gloom, Boom & Doom report, discusses the outlook for the U.S. economy and stock market. He speaks with Matt
Miller and Carol Massar on Bloomberg Television's "Street Smart."
Marc Faber : well I was very critical of Mr Bush but at least he had one line and he sticked to that line , he set out to do a scene and he was relatively straight on that scene that he did , he may have been wrong and I criticized him very frequently but at least he did not change his mind continuously and even prostitute himself ...we foreigners we just laugh , we just laugh at someone like president Obama ...well if you want me to be honest I think he has done a horrible job and I think that will continue I think he is basically a dishonest person and change ?!?! nothing has changed ...let's change the subject from politics to actually economics and to investment markets because in three days I have to go to the United States I do not want to be hasseled at the border


Marc Faber appeared on Bloomberg TV, in what may go down in history as his most scandalous interview ever.

Faber, who appears to have had enough with all the bullshit, propaganda, and lies, replies: Ben Bernanke should be disposed, and as for the president, "I think he's done a horrible job and I think that will continue, I think he is a dishonest person, and nothing has changed"...

Some politicians are more honest than others. I don't think that I have a very high regard for politicians, I have a high regard for businessmen and for people who work, and not for people who abuse the system continuously.

In comparison to other politicians, I think he came in on a platform as a president that would want to change the government in Washington, and actually he's made it worse...

We foreigners, we just laugh at someone like Mr. Obama.I agree with Marc .. Obama has done a horrible job and it will only get worse .. Good luck at the U.S. Customs and Boarder Service, Marc!