Marc Faber thinks that all governments, the U.S and Europe will keep printing money trying to fix the debt crisis and slumping economies with even more debt.
The crazy Keynesian notion that you can fix a debt problem by getting further into debt…that is nuts, but that is what the U.S and Europe is engaging in.
In 5 years time, the world might look very different. Marc Faber is ultra bearish and thinks people should be prepared to own gold, stable equities and avoid government bonds.
There have been lots of talk about China’s impending economic slowdown and real estate bubble bursting leading to a hard landing. However what most people don’t know is that right after China, India is also slowing down dramatically.
The timing is only different, he says, because “banks these days are much bigger than they were in 1929.” In the 20’s institutions were reliant on client money to lead their bailout attempts. Today Central Banks have the ability to call on future, often overstated, tax revenues and are unencumbered by anything such as a gold standard when attempting to ward off the human desire to hide under the covers, financially speaking.
This news story from Madrid, Spain — Amnesty International on Wednesday accused Spanish authorities of using racial and ethnic profiling, with police singling out people who are not white in order to meet quotas.
U.S statistics do not count a lot of off book debt like “student loans”, social security and State (eg. California) level debt. If these other debt were counted, which they should to paint a more accurate picture of the U.S economic situation.
Peter Schiff is right on the money here. The world is being tricked into believing that the United States of America is a sound investment because the government statistics being posted are skewed and manipulated.
Henry S. Dent has a pretty good track record of foretelling what will happen. Nobody can predict when it will happen just what is going to happen and so far, the next crash is taking longer because of Fed stimulus.
He recommends get out of stocks, commodities and get into cash and U.S Treasuries. He is not a gold bug though. He thinks it is a commodity and will get pull down with all other commodities.
Here is an article and video on ZeroHedge that brings to light the lost of freedom in the U.S.A. Peaceful protest is met with force. America it is sad to say is becoming a police state.
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