Steve Keen 2012 Google Talks

Speaker: Dr Steve Keen - Associate Professor, University of Western Sydney, and well known economist.economist Steve Keen looks at the rising national debts in Australia and the United States, paying particular attention to their historical relationship with recessions, growth and unemployment. He suggests that the levels of debt in both countries have reached a point which virtually guarantees a very difficult economic road ahead in the long term .Another reason the powers that be missed the depression is that they were lying. They knew it, but were simply afraid to admit the problem, and instead tried to talk the market up.

Thai & Indian Banks & exposure to Europe debt

Marc Faber : Order, order. I haven't finished. Fraser & Neave [FNN.Singapore], in Singapore, is a conglomerate similar to Swire. It sells for 10 times earnings and yields about 3%. It could become a takeover target at some point. Lastly, I am the chairman of the India Capital Fund [an open-end fund sold outside the U.S.]. The fund and the Indian currency have been hit hard, and the fund could go lower. But the U.S. outperformed India last year on the order of 40%, and the Indian market looks attractive at 12 times earnings. As Chen Zhao at BCA Research said, in China the macro backdrop is fantastic and the micro is a disaster, but in India the macro is a disaster and the micro is fantastic. India has very good companies. The fund is overweight the banks and has a P/E of 10. Last year I was overweight the U.S. relative to emerging economies. At what stage will the outperformance of the U.S. cease and emerging markets rise again? It could be three or six months, or a year. I am gradually increasing my exposure to emerging markets. Thai and Indian banks have no exposure to Europe. Indian banks lend domestically. - in The Barron's Roundtable

Marc Faber : Zero Interest Rates force everybody to be a speculator

Marc Faber : But why is there leverage? It is a symptom of artificially low interest rates -- essentially zero interest rates -- that force everybody to be a speculator because you're not earning anything on your money. This volatility won't disappear anytime soon, because it has little to do with the problems in Europe and everything to do with excessive liquidity that is being created in the system. Unless there is a general collapse of liquidity -- in other words, a credit-market collapse -- the volatility will continue, perhaps for five or 10 years. It drives the small investor away from the market. He doesn't understand it. He doesn't trust Wall Street, and rightly so, and he finds the whole system corrupt and dominated by people with inside information - in The Barron's Roundtable