Saturday, June 25, 2011
So a crisis in the US, we are to some extent still in crisis for the workers, for the lower middle class, and we had a recovery in asset prices, notably equities, but not real estate, which essentially means the Bernanke would have liked to see rising real estate prices. So whether we will have a further crisis, I am not so sure, but the global financial system will eventually blow up because we have not solved the problems, we have postponed them. In 2008, the financial sector went bankrupt and the government stepped in with bailouts and as a result of that, government's debt everywhere have gone through the roof and made governments more vulnerable to themselves failing one day, especially in the United States, in my opinion. Jim Chanos always says China is Dubai times a thousand. In my view, the US is Greece like a thousand times. - in ET Now
Friday, June 24, 2011
Thursday, June 23, 2011
Marc Faber : not to own any Gold is to trust central bankers and that you do not want to do in your life
Wednesday, June 22, 2011
Ben Bernanke :"good afternoon, welcome. in my opening remarks today, i'll briefly review today's policy decision and I'll place the decision in the context of our economic projections and our policy strategy. I'll then be glad to take your questions. throughout today's briefing my goal will be to reflect the consensus of the committee while taking note of the diversity of views as appropriate. of course, my remarks and interpretations are my own responsibility. as indicated in the policy statement released earlier this afternoon, the committee decided today to keep the target rating and the federal funds rate at zero to 0.25%. the committee continues to anticipate that economic conditions including low rates of resource utilization and the subdued outlook for inflation in the medium run are likely to warrant exceptionally low levels for the federal funds rate for an extended period. the committee plans purchases of $600 billion of longer-term treasury securities will be completed by the end of this month and the committee will continue to reinvest principal payments from a securities holdings going forward. in conjunction with today's meeting, the FOMC participants submitted projections for economic growth, the unemployment rate, and the inflation rate for the years 2011 to 2013 and over the longer run"
Tuesday, June 21, 2011
Monday, June 20, 2011
"first you recognize it's a solvency issue, not a liquidity issue. second you recognize that waiting has contaminated it. so part of the problem now is that the ECB balance sheet has gotten contaminated. so you need to have an action plan for that. thirdly, you need to protect the economies that do not have the characteristics of Greece, but could get contaminated. Spain, Italy. you need to move on plan b quickly, otherwise you're going to get stuck and everything's going to be more difficult. a year ago the ECB balance sheet was not contaminated so we could have solved it easier. today it is contaminated, so it gets more complicated. and six months time, gets even more complicated. so waiting around, not to kick the can down the road, but just waiting around makes the solution even more difficult."
Sunday, June 19, 2011
William Kurt Black (born 6 September 1951) is an American lawyer, academic, author, and a former bank regulator. Black's expertise is in white-collar crime, public finance, regulation, and other topics in law and economics. He developed the concept of "control fraud", in which a business or national executive uses the entity he or she controls as a "weapon" to commit fraud.
Saturday, June 18, 2011
Friday, June 17, 2011
Thursday, June 16, 2011
Wednesday, June 15, 2011
All we need is a brave government to abolish negative gearing and it will be a big downturn. The Government knows this but that they wont as it would mean political suicide for the government of the day.
Instead they will leave the market forces go into chaotic collapse on its own then come in "to ensure these unsustainable prices never ever effect our economy again" and abbolish negative gearing.
Problem is plenty of Baby Boomers are self funded for retirement through property, poor fellas.
Tuesday, June 14, 2011
Niall Ferguson agrees 50 percent with what Larry Summers said yesterday that the US is facing a lost decade but he does not agree with his Keynesian remedy of more stimulus , Niall Ferguson also says that he is 100% sure that Greece will default
the debt crisis amongst the PIIGs has moved from being a public finance problem on the periphery (of Europe ) to be a major institutional conflict between the biggest economies in the European and the European central bank union Niall Ferguson says
the German position has moved the driver here is the German voter he added they are fed up of writing blank checks for the rest of Europe , if the German voter gets what he wants a whole bunch of German banks could blow up cause they are the major one exposed to the Greek debt he explained
Marc Faber : a collapse in the Chinese economy will have a very negative impact on the demand for industrial commodities
Monday, June 13, 2011
Sunday, June 12, 2011
Saturday, June 11, 2011
Friday, June 10, 2011
Thursday, June 9, 2011
" In a money-printing environment, it is very difficult to know what is actually cheap and what is expensive. Is the price of wheat high, or is it low? Inflation-adjusted,it is extremely low. In nominal terms, it is relatively high. I believe that, in March 2009when the S&P was at 666, the market was actually much cheaper than is generally perceived, because of the money-printing, and I do not anticipate that we will see 666 on the S&P again, in nominal terms.In other words, they are going to print so much money that the S&P could be at, perhaps,2000, but in real terms, it could be down below the lows of March 6, 2009. Maybe in gold terms, we could one day reach a ratio of Dow Jones to gold of 1-to-1, as we were in 1980. In other words, the Dow could be perhaps at 10,000 or 12,000, and gold could beat the same level.That is why I am advising people to accumulate gold. Can gold have a correction? Yes,there has been a little bit too much euphoria about gold, and we may have a correction,but I do not think we are in a bubble in the price of gold. In fact, I could make a case that gold, at this level of $1400 an ounce, is cheaper than in 1999, when I look at the unfunded liability growth of the U.S., at the credit growth of the U.S., and at the household growth, and at the money printing, and at all the wealth creation that happens in China and Russia.Just consider, when I started to work in the 1970s, it was said there were two billionaires in the world. One was Rockefeller, and the other one was Mr. Ludwig. Then in 1980there were, I think, six or eight billionaires. Now you have thousands of billionaires.The paper money has become of lower value, and in that environment, it is conceivable that actually stocks do not go down a lot, in nominal terms, but they go down inflation-adjusted, and not inflation-adjusted by what the government is publishing, but in inflation-adjusted terms, as John Williams points out. He says inflation is running at 8%per annum. I have it slightly lower, depending also on the household, whether you have children, or no children, and where you live, but I would say between 5-10% in America is probably a realistic figure, and between 8-12% in countries like India, China, Viet Nam."
Wednesday, June 8, 2011
Mark Mobius : "the reason why i say that is the problems that we faced during subprime have not really been solved. banks that are too big to fail, they have gotten bigger. derivatives that are really not regulated yet, and the fact that the bank balance sheets around the world, in many of the larger banks, are not really that healthy, so you have a situation which if not corrected will result in another crisis. now, i must also state it's no big disaster. in fact, it could be an opportunity, particularly in emerging markets, because it will give us an opportunity to buy cheap stocks again, so i don't consider it a very bad thing to happen. of course, we don't distinguish to happen, but i think it is -- it is inevitable. "
Tuesday, June 7, 2011
Stephen Roach, : we're setting ourselves up for yet another series of bubbles that could end rather painfully
Monday, June 6, 2011
A modern nation state is designed like a pyramid a compartmentalized pyramid . this includes organized crime and intelligence agencies. in every moderately successful nation organized crime and intelligence services are integrated in a revolving door fashion. the US is a "corporation" with 2 sets of books
Sunday, June 5, 2011
Saturday, June 4, 2011
This isn't a conspiracy. If you think about it, the rich people have far fewer votes than the poor people. 50% of babies born in America are born to poor mothers who are not married. What kind of education will these children get? And they have the same vote as someone who has affluence and influence and who has worked hard all his life. They think that the system is cheating them, so they are going to cheat the system.
The tragedy is that the system has become dysfunctional. We are not living in the America that it used to be. Something changed along the way, and everyone just wants to rip off the system.
Rich people benefit from inflation because the money flows into assets, and then they can shift their assets overseas. The ordinary man doesn't have that potential.
Friday, June 3, 2011
Thursday, June 2, 2011
Wednesday, June 1, 2011
Tuesday, May 31, 2011
Monday, May 30, 2011
Sunday, May 29, 2011
No our politicians are NOT isolated. Our politicians DO SEE what's going on.
Our politicians are corrupt. Our politicians are effectively owned by banks and the rich. They will never regulate banks / credit cards / insurance / oil company prices / medicine / pharmaceuticals / .... or anything else that represents big business.They laugh while we suffer. They get rich from your loss. They profit from war. They steal and are protected. They get bailouts, we lose our homes. They rule the media, the banks, the government. They own you.Greedy bankers,corporate thieves,corrupt politicians,business man that commit envronmental crimes...We will never be free during these kind walk free on the world, TO LIVE FOREVER IN JAIL thats what they deserve and need to happen...
Marc Faber : I believe that the fiscal deficit will not come down it will rather increase going forward
Saturday, May 28, 2011
Catherine Austin Fitts of Solari.com joins us to discuss ways that people can stop empowering the system that is enslaving them by withdrawing support for large banks and financial services. Former Assistant Secretary of Housing under George H.W. Bush Catherine Austin Fitts blows the whistle on how the financial terrorists have deliberately imploded the US economy and transferred gargantuan amounts of wealth offshore as a means of sacrificing the American middle class. Fitts documents how trillions of dollars went missing from government coffers in the 90's and how she was personally targeted for exposing the fraud.
Fitts explains how every dollar of debt issued to service every war, building project, and government program since the American Revolution up to around 2 years ago - around $12 trillion - has been doubled again in just the last 18 months alone with the bank bailouts. "We're literally witnessing the leveraged buyout of a country and that's why I call it a financial coup d'état, and that's what the bailout is for," states Fitts.
Friday, May 27, 2011
"...I think what will happen is that these deficits will stay very high and that they will lead to very high inflation rates most likely hyperinflation not tomorrow but over time , all I can say is I travel a lot and I am surprised that the US can publish a consumer price index of two percent when everything I see is up significantly in price not a little bit , significantly and so I think here the rate of inflation has to be closer between 5 and 10 percent ,in my opinion closer to ten percent than five percent ,and elsewhere I also see prices going up substantially and so the potential for high inflation is actually there ....."
Thursday, May 26, 2011
May 25 (Bloomberg) Marc Faber : ..recession in China could be a technical recession , if you go and slow down from a growth rate of say ten percent to a growth rate of three percent then there is a recession , also I do not believe in the growth rate that China publishes , because if you had adjusted nominal GDP for the true rate of inflation then real growth is of course much slower , you know I want to tell you something that disturbs me in all emerging economies and in many other developed economies , from my taste , in front of far too many luxury hotels there are far too many Ferraris, Maseratis, Bentleys... I see a boom everywhere, except for the working class, except for the lower, middle class. But among the well to do people the wealth that is floating around and the prices you pay for high end properties is incredible, and I think that will come to an end, and a lot of people will lose a lot of money... I was in La Jolla, Laguna Beach, Newport Beach, I was in front of a restaurant smoking and I've never seen so many Ferraris, Maseratis, Bentleys and fancy cars anywhere in the world, and this is in America. I am not saying this is wrong, but there is an opulence among a small group of people that is huge when there are lots of people that are struggling. This gives me a bad feeling because I've seen so many emerging economies when they were booming, that was the time to get out." Marc Faber told Bloomberg
Dr. Marc Faber Tomorrow's Gold
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.
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