Marc Faber : I could smell Something is Wrong in China

Dr. Marc Faber delivered a shock- and-awe inducing performance during the The EPCA ( the European Petrochemical Association) 2011 Annual Meeting , castigating the economic and Financial policies of all major western governments, and “Keynesian” economists, and warning that he could “smell something is wrong in China”. He predicted another major economic and Financial meltdown between 2015 and 2020 - at the latest. - via EPCA

Wall Street investment companies have become public companies

The “too big to fail” view of private sector banks and other financial companies has encouraged reckless lending and investment policies among too many financial institutions. This safety net should be removed, Marc Faber argues. Back in the “old days”, Wall Street investment companies were partnerships that risked their own money. But now they have become public companies, which risk other people’s money, and leave governments - and taxpayers - to pick up the pieces when trouble strikes said Dr. Marc Faber during the EPCA annual meeting a couple of days ago