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« on: May 16, 2012, 01:42:35 PM » |
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« Reply #3 on: June 03, 2012, 09:50:48 AM » |
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« Reply #4 on: June 03, 2012, 09:59:37 AM » |
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“The Political Function of Inflation is to Mislead Public Opinion”
1 June 2012, by Marc Faber (GloomBoomDoom) http://new.gloomboomdoom.com/portalgbd/homegbd.cfmIt is remarkable how scholars discovered already early the viciousness of monetary inflation. In the 14th century, Nicholas Oresme observed that, “Among the many disadvantages arising from alternation of the coinage which affects the whole community is….that the prince could thus draw to himself almost all the money of the community and unduly impoverish his subjects. And as some chronic sicknesses are more dangerous than others because they are less perceptible, so such an extraction is more dangerous the less obvious it is.” Much later, the 18th-century Scottish philosopher David Hume pointed out that when money is inserted into the economy, it is not distributed evenly but “confined to the coffers of a few persons, who immediately seek to employ it to advantage.” Therefore, I think we need to consider seriously Sheila Bair’s proposal to fix income inequality with a $10 million loan for everyone. This, in particular if we are to believe the Keynesians that the “economy desperately needs a short run fix” (Krugman). The only problem is that Keynesian economic policies are directly responsible for the current global economic crisis. In most Western societies, easy monetary policies and large fiscal deficits have led to excessive debts. These debts are now – and will remain so for a long time – a growth inhibiting factor. As Nikolaus Kopernikus observed, “Among the countless evils that bring about the demise of entire states, these four are probably the prior ones: internal discord, high mortality, infertility of the soil, and the deterioration of the money. The first three are so apparent that hardly anybody would contest them. The fourth evil, however, which stems from the money, is only noticed by a few, and only by those, who think deeply, for the states fall victim to demise not at the first attempt, but gradually, and almost invisibly.” I am enclosing this mailing a report about Natural Gas by Pedro Noronha who runs Noster Capital LLP in London. I wish my readers a beautiful summer with lots of sun and many pleasurable moments. Yours sincerely
Marc Faber
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« Reply #5 on: June 04, 2012, 10:09:16 PM » |
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Faber On Europe's Dilemma And China's Hard Landing
4 May 2010, by Tyler Durden (Zero Hedge) Whatch Vid: http://www.zerohedge.com/news/faber-europes-dilemma-and-chinas-hard-landingMarc Faber brought his typical sense of reality and truthfulness to CNBC's Squawk Box this morning and in doing so managed to stop Jeremy Siegel saying long-term-buy-and-hold for more than 7 minutes. Siegel represented the 'new-hopers' with his insight that if the ECB would just guarantee all euro-wide deposits then all would be well in the world. Faber comes over-the-top in his gentle European accent reminding the academic that "it is hard to guarantee something you have no control over". Faber then proceeds to state his view that Europe is in a deepening recession and more importantly that China is growing at a far lower pace than official statistics would infer. Reminding viewers that about 40% of US corporate profits are from outside the US and the 'vicious spiral chain reaction' from slowing demand in China for industrial commodities has lagged effects on producing countries and then aggregate demand globally, Faber fears broad-based risk sell-offs but remains notably less sanguine on US Treasuries.
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« Reply #6 on: June 07, 2012, 09:56:28 AM » |
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Faber Warns of U.S. Government Bond `Bubble’ http://www.youtube.com/watch?v=szj4L5Tik9QJune 7 (Bloomberg) — Marc Faber, publisher of the Gloom, Boom & Doom report, talks about his strategy for global stocks, bonds, commodities and currencies.
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« Reply #7 on: June 28, 2012, 12:26:24 PM » |
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« Reply #12 on: July 24, 2012, 11:10:46 PM » |
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Capital Account: Marc Faber on a Global Crash, the U.S. Treasury Bubble and China’s Slowdown http://www.youtube.com/watch?v=zWcs4MZGSJU
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« Reply #14 on: August 14, 2012, 05:46:56 PM » |
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Faber Pessimistic on China, Favors European Stocks: Tom Keene
14 August 2012, by Veronica Navarro Espinosa and Tom Keene (Bloomberg) http://www.bloomberg.com/news/2012-08-13/faber-pessimistic-on-china-favors-european-stocks-tom-keene.htmlChina’s economy will slow “considerably,” said Marc Faber, the publisher of the Gloom Boom & Doom report, who is buying European stocks. “The growth rate we had in the last 10 years, which was around 10% annually, is going to slow down considerably,” Faber told Tom Keene and Ken Prewitt in a “Bloomberg Surveillance” radio interview yesterday. (See Vid Above)“I would rather wait to buy Chinese stocks until we see the result of the stimulus packages.” The Shanghai Composite Index (SHCOMP) has tumbled 13% from its high this year on March 2, while the Hang Seng China Enterprises Index of mainland stocks traded in Hong Kong lost 16% amid concern the economic slowdown is deepening. The Shanghai gauge slid 1.5% yesterday after Bank of America Corp. joined Deutsche Bank AG and Barclays Plc in cutting economic growth forecasts for China. It rose 0.3% at the close today. Government data last week showed that Chinese exports grew 1% in July, missing the 8% median estimate of economists surveyed by Bloomberg. Policy makers cut interest rates in June and July after two reductions in banks’ reserve- requirement ratios this year to counter the slowdown in the economy, which grew 7.6% in the second quarter, the slowest pace since 2009. Faber is buying European stocks as declines related to concern the euro may break up create opportunities for investors. The Stoxx Europe 600 Index (SXXP) has risen 16% since June 4 when it closed at the lowest level in more than five months, data compiled by Bloomberg show. The gauge is valued at 11.6 times estimated profit, while the Shanghai Composite trades at a multiple of 9.6 times and the Hang Seng China Enterprises Index is at 8.1 times. European Premium The Stoxx 600 traded at its widest premium to the Hang Seng gauge on record on Aug. 8, according to data compiled by Bloomberg going back to January 2006. The Hong Kong measure trades at a 36% discount to its five-year daily average, while the European index trades at the same level as its average over the same period. European stocks have climbed for 10 weeks amid speculation policy makers will do more to stimulate growth. European Central Bank President Mario Draghi said July 26 officials are prepared to do whatever is needed to save the euro. Hedge funds that base investment decisions on economic trends are unwinding bets against European stocks at the fastest pace in three years, speculating policy makers will step up the fight against the debt crisis. The degree by which macro funds are trailing the Euro Stoxx 50 Index is narrowing at the fastest rate since 2009, a sign managers are covering short sales by buying shares, according to data compiled by Bloomberg and JPMorgan Chase & Co. Faber said on Feb. 2 he wouldn’t buy shares of Facebook Inc., the social-networking website that filed to raise $5 billion in the largest Internet initial public offering on record. The stock has tumbled 43% since the May IPO.
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« Reply #15 on: August 22, 2012, 05:07:05 PM » |
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« Reply #16 on: August 23, 2012, 03:38:33 AM » |
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Marc Faber On Keynesian Folly, The 'Missing' Inflation, And Bubble-Blowing
22 August 2012, by Tyler Durden (Zero Hedge) http://www.zerohedge.com/news/marc-faber-keynesian-folly-missing-inflation-and-bubble-blowingMarc Faber's forecasts for the global economy http://www.youtube.com/watch?v=65SH35IMzlIIn as-comprehensive-an-explanation-as-we-have-seen of the monetary malfeasance and misunderstanding of the standard Keynesian central-banker, Gloom-Boom-Doom's Marc Faber addressed an instutional audience in the Middle East earlier this year. Faber begins by explaining his (correct) view that 'Keynesian' intervention into the free-market or capitalistic society (with fiscal and monetary measures), in order to 'smooth' the business cycle, has in fact created a more violent business cycle - as they attempt to address long-term structural problems with short-term fixes (or bubbles). His lecture expands from his insight that in 1970 not a single investment bank was public - they were all private partnerships (implicitly playing with their own money as opposed to other-people's - dramatically impacting the risk profile in the world) to the notion that central bank money printing (pushing dollars out the door) does have inflationary symptoms - but they do not necessarily have to show up in wages or CPI in the US (think Chinese wage inflation, or commodity price rises, or Aussie housing bubbles). Central bankers can determine the quantity of money but they cannot determine what we do with those USD bills. Must watch. Faber covers it all - from macro-economics to energy supply-and-demand and from the consequences of incessant money printing and how to hedge for the long-term. With volumes still muted, and a general malaise of hand-sitters, it seems now is a great time to spend 45 minutes clarifying your perspective on just what the experimental efforts of our global elite is doing to the world - and whether that is a good thing economically or not... we suspect the conclusion will not surprise you...
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« Reply #17 on: September 06, 2012, 09:30:50 AM » |
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« Reply #19 on: October 23, 2012, 10:54:12 PM » |
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Little catch up on Faber'sMarc Faber Warns of Profit Taking In Gold, Other Commodities
05 October 2012, by Jared Cummans (Commodity HQ) http://commodityhq.com/2012/faber-warns-of-profit-taking-in-gold-other-commodities/Marc Faber: Market Setting Up for ‘Serious Setback’
09 October 2012, by Bruno J. Navarro (CNBC) http://www.cnbc.com/id/49278307Marc Faber: The Fed will Destroy the World
17 October 2012, by Jared Cummans (Money Morning) http://www.moneymorning.com.au/20121017/marc-faber-the-fed-will-destroy-the-world.htmlWest in a ‘Colossal Mess’ in Five to 10 Years: Marc Faber
22 October 2012, by Antonia van de Velde (CNBC) http://www.cnbc.com/id/49500213How To Play Marc Faber’s 20% Market Drop
23 October 2012, by Jared Cummans (Commodity HQ) http://commodityhq.com/2012/how-to-play-marc-fabers-20-market-drop/Peter Schiff interviews Marc Faber , Oct 2012 http://www.youtube.com/watch?v=1uc_qu5qHGE
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« Reply #20 on: November 07, 2012, 09:30:26 PM » |
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Marc Faber's Asset Protection Plan: "Buy A Machine Gun", No Really, "You're Right, Buy A Tank"
7 November 2012, by Tyler Durden (Zero Hedge) http://www.zerohedge.com/news/2012-11-07/marc-fabers-asset-protection-plan-buy-machine-gun-no-really-youre-right-buy-tankTrish Regan and Adam Johnson do their best to hold themselves together in this sublime rant by 'Gloom, Boom & Doom's Marc Faber on Bloomberg TV as he sees Obama's re-election as "very negative for the economy". From his view that the market should be down at least 20% - and maybe 50%, to the implied ignorance of both of the candidates, he believes fervently that the "standards of living of people in the western hemisphere will continue to decline." Faber views Obama's re-election as one of many unintended consequences of market manipulation (since Democrat attacks on the wealthy were 'enabled' by their profiteering from Bernanke's money printing) and sees the need to protect one's assets "with a gun, a machine gun... or perhaps a tank." He concludes with a stunner as he exclaims his view doubting Obama will make it through the whole four-year term because "there will be so many scandals" since "there is so much smoke, there must be some fire!" The pre-amble is useful and well worth listening to as Faber describes exactly what is occurring in the world... The good stuff begins around 7:30 as Faber goes Baumgartner... and gives the Bloomberg hosts a taste of reality we suspect they have not heard from their run-of-the-mill portfolio manager sheep guests... http://www.bloomberg.com/video/obama-is-very-negative-for-economy-faber-says-e6G4uAjSTQaev_s0unVqtQ.htmlFaber on President Obama’s reelection:“I am surprised with the reelection of Mr. Obama. The S&P is only down like 30 points. I would have thought that the market on his reelection should be down at least 50%...I think Mr. Obama is a disaster for business and a disaster for the United States. Not that Mr. Romney would be much better, but the Republicans understand the problem of excessive debt better than Mr. Obama who basically doesn't care about piling up debt. You also have in the background Mr. Bernanke, who with artificially low interest rates enables the debt to essentially escalate endlessly.” Onwhere he sees the equity markets given Obama’s reelection:“You have offsetting factors. The problem with Mr. Obama is that you get more regulation and it’s disincentive for businessmen to hire people. You probably also get higher taxes, so in terms of the economy, he is very negative in my view. But you still have Mr. Bernanke, and you still have because of money printing very high corporate earnings. They are now coming down, but they are still at the elevated level. You have money printing supporting the market and on the other hand, you have an economic slowdown globally which will affect earnings negatively. It is difficult to tell where the market will go because we have so much manipulation. I think, minimum, it will drop 20%.” On how investors should protect their assets:“They should buy themselves a machine gun…I need to buy a tank. Joking aside, look, we have manipulated markets. Whenever you manipulate markets, you will get unintended consequences. i think the reelection is unintended consequence of money printing, that favors the so- called 0.25%. It was easy for the Democrats to attack the wealthy fat cats of Wall Street, the elite, and the privileged people to portray them as a profiteer of the system, which to some extent, they are. Not because they wanted to but because Mr. Bernanke enabled them to be profiteers. We have a situation where you have today Mr. Obama, I doubt he will stay at the presidency for another four years. I think there will be so many scandals, but that’s another story.” On why he believes Obama won’t make it another four years as president:“There is so much smoke. I suppose there is some fire. That is my observation. We don't know how the world will look in five years' time. I am pretty sure central banks will continue to print money and the standards of living for people in the western world, not just in America, will continue to decline because the cost of living increases will exceed income. The cost of living will also go up because all kinds of taxes will increase. Like Proposition 30 today in California is of course negative for the Californian economy. That is the state of the world. We have worsening economic conditions, but we have money printing.” On Speaker Boehner’s comments to Congress today on the fiscal cliff:“I am sure that they will solve it. They will increase cosmetically some taxes and they will cut cosmetically some spending and it will all be back loaded 10 years from now. So in reality, not much will happen. But the market tends to rally towards year-end, and i think from a low of around 1360, we could have a rally to January, but I think sometime next year will be again lower.” On whether he sees the U.S. in recession in 2013:“Yes, I think that if the figures were compiled properly. If nominal GDP was adjusted by a proper price deflator, we would probably already be in recession…But I would like to point out one thing about the economy. GDP is not a very relevant figure. It consists of many different sectors of the economy, so you can have some sectors that are improving like housing and others that are worsening.” On his dollar and euro positions:“This is the choice in life. You choose what is less bad. I don't particularly like Mr. Obama, but I think he is less bad for the world than Mr. Romney. It is a tragedy of life that both candidates did not lose the election. They would have deserved both to lose.”
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« Reply #21 on: November 13, 2012, 02:08:23 AM » |
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shipgeek
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« Reply #22 on: November 13, 2012, 05:20:30 AM » |
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Already a power keg - Israel being the chief aggressor. It is already bad it can only get worse.  |
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E MARE LIBERTAS
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« Reply #23 on: November 13, 2012, 08:39:44 AM » |
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Faber sees 20% slide for stocks from September highs: report
13 November 2012, by Tom Bemis (MarketWatch - Blogs) http://blogs.marketwatch.com/thetell/2012/11/13/faber-sees-20-slide-for-stocks-from-september-highs-report/Marc Faber sees U.S. stocks falling 20% from their Sept. highs, CNBC reported: Marc Faber: Prepare for a Massive Market Meltdow http://www.cnbc.com/id/49802535Marc Faber: Prepare for a Massive Market Meltdow http://www.youtube.com/watch?v=h6I_TH_0eVY
Faber, a noted market bear, made the comments in an interview on the financial news network Tuesday.
“The market is going down because corporate profits will begin to disappoint, the global economy will hardly grow next year or even contract, and that is the reason why stocks, from the highs of September of 1,470 on the S&P, will drop at least 20%, in my view,” the network quoted Faber as saying.
Faber dismissed worries over the so-called fiscal cliff as a distraction that involves spending cuts “in 100 years.”
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« Reply #24 on: November 30, 2012, 04:20:46 AM » |
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Marc Faber – Middle Class Consumption in Asia and the Emerging Markets – SuperReturn Middle East 2012 in Dubai https://www.youtube.com/watch?v=iUKVpEkjXEw
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« Reply #28 on: February 04, 2013, 05:10:49 PM » |
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« Reply #29 on: February 23, 2013, 02:09:36 PM » |
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« Reply #30 on: March 08, 2013, 06:27:10 PM » |
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Marc Faber: Druckenmiller’s right, rally will ‘end badly’
8 March 2013, by William L. Watts (MarketWatch - Blogs) http://blogs.marketwatch.com/thetell/2013/03/08/marc-faber-druckenmillers-right-rally-will-end-badly/Hedge-fund legend Stanley Druckenmiller has company.
Veteran investor Marc Faber, who earlier this year said he loves the odds of a “big-time” market crash, told CNBC’s Maria Bartiromo late Thursday that he agrees with Druckenmiller’s recent assertion that the current market rally will “end badly.”Druckenmiller, the one-time George Soros protege who closed down his own successful Duquesne Capital Management firm after nearly two decades in 2010, made the rounds earlier this week. He told CNBC that while stocks can continue to rise in the near term, his guess was that “it’s going to end very badly.” Druckenmiller is “a very thoughtful person, and I share his views. It will end badly. But unlike Stan, I believe it will end badly this year,” said Faber, whose famous for his contrarian investment approach. So how bad does he think it will be? Faber, author of the “Gloom, Boom and Doom Report,” opted for the cryptic, telling Bartiromo: “You’ll see yourself how bad it will be.” Faber said he’s sticking to scenarios he outlined previously. In one scenario, he sees a 20% correction that will be followed by a rally that may or may not take out the highs. Another scenario sees the market echoing the pattern seen in 1987 or 2000, when sharp rallies early in the year were followed by big drops.
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« Reply #31 on: March 14, 2013, 06:18:21 PM » |
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Marc Faber says investors should fear China’s ‘colossal credit bubble’
14 March 2013, by William L. Watts (MarketWatch - Blogs) http://blogs.marketwatch.com/thetell/2013/03/14/marc-faber-says-investors-should-fear-chinas-colossal-credit-bubble/High-profile market bear Marc Faber says investors should be worrying about China’s “colossal credit bubble,” telling CNBC late Wednesday that how China chooses to deal with the situation will be crucial to determining whether the world’s second-largest economy can continue to grow. “Whether they can ensure continuous growth will depend on reforms and how to deflate the colossal credit bubble we have in China,” said Faber, editor and publisher of The Gloom, Boom and Doom Report. “This is going to be a huge problem because we have so much underground credit, questionable loans outstanding and questionable investments.” Faber said China’s economic growth is probably much slower than official numbers suggest. China won’t miss its growth target of 7.5%, he told CNBC: They will announce it, but the reality will be much lower. If you look at the statistics that are more relaible like Korean, Japanese or Taiwanese exports … then export figures from China don’t add up entirely. Watch Marc Faber CNBC Vid here: China’s Colossal Credit Bubble Next Big Risk: Faber http://www.cnbc.com/id/100551619
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« Reply #33 on: April 03, 2013, 11:37:47 AM » |
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Marc Faber: 'I would probably choose gold' http://www.youtube.com/watch?v=e3_stwLAV2UApril 3, 2013Alasdair talks to Marc Faber, publisher of the Gloom Boom & Doom (new.gloomboomdoom.com) Report. Marc discusses his 40 years of experience in capital markets and the lessons he has learned. He looks at the underlying nature of the American economy and details the problems arising since 2007. Money printing -- along with the insidious effects of underreported inflation -- is to some extent disguising the sorry state of the US economy. Faber is cautious on China, and when questioned about Cyprus and the loss of depositor funds, raises pertinent points about the problems that deposit insurance may cause and what the ramifications of the bailout conditions in Cyprus may have on otherwise conservative investors.
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« Reply #34 on: April 12, 2013, 08:54:36 PM » |
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Marc Faber: "I love the markets. I love the fact that gold is finally breaking down. That will offer an excellent buying opportunity"http://www.bloomberg.com/video/faber-gold-isn-t-down-as-much-as-apple-FJWVsQe2RoKY6uT3ysQyxA.htmlApril 12, 2013 (Bloomberg)Gloom, Boom and Doom Report Publisher marc Faber discusses the markets, gold and his investment strategy on Bloomberg Television's "Street Smart."
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« Reply #36 on: May 11, 2013, 03:59:05 AM » |
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Master of doom Marc Faber is feeling gloomy about Canada
8 May 2013, by Darcy Keith (The Globe and Mail) http://www.theglobeandmail.com/globe-investor/inside-the-market/master-of-doom-marc-faber-is-feeling-gloomy-about-canada/article11788240/Marc Faber, editor and publisher of The Gloom, Boom and Doom Report, was late to arrive to our Tuesday live discussion at Inside the Market alongside David Rosenberg. But we posed some of the questions you left for him in a later telephone conversation. Before we did, however, we couldn’t resist asking him about his views on Canada. Not surprisingly, the famed economist known for his contrarian and often pessimistic bent didn’t exactly offer an uplifting view. “I think Canada is a case where you have huge leverage in the private sector and where the economy is slowing down, where you have a strong currency and where the price levels are now relatively high,” Dr. Faber told us from Thailand. “I don’t think Canada is very inexpensive any more. I travel there all the time, it’s rather on the expensive side. I think there’s significant risk to the Canadian economy.”The real estate market is key to his sour outlook on Canada. He thinks the Canadian housing market may very well be in bubble territory, and not just in Toronto and Vancouver, but also in other major cities such as Calgary where there has been significant price gains in recent years. He’s not necessarily calling for a crash, but suggests there certainly could be significant depreciation in real estate values ahead. Dr. Faber says the policies of the Bush and Obama administrations in the U.S. have made Canada look good by comparison as a place for foreign real estate investors to park their cash. But, on recent visits to Canada, he’s observed a significant disconnect between selling prices of homes relative to what they really should be worth. The precarious state of the housing market has made Canadian banks more risky investments. Dr. Faber doesn’t follow the Canadian banks that closely, but observed that Canada, like Australia, has higher household debt than in the U.S. “With the higher leverage in Australia and Canada, I think I’d be very careful about any lending institution,” he said. Is it a good time to buy gold? – Jay BernsteinFaber: Nobody knows whether it’s a good time to buy gold or not … as I have repeatedly said in my reports, I buy gold every month and on the recent decline I bought more at $1,400 and I have an order at $1,300 and one at $1,200 and one at $1,100 an ounce. But they were not filled, just the $1,400. I will never sell my gold, as I repeatedly told people. .... My maximum allocation to gold at present time is 25% of assets.” He believes having a 75% allocation to bonds, cash, real estate and equities is prudent, given it could offset any further tumbles in precious metals. Mr. Faber, you have indicated you believe there will be a market crash this summer. Can you tell us what might precede such an event? - BillFaber: What was the trigger of the ‘87 crash when markets fell 21% in one day? What was the trigger of the Nasdaq crash in 2000? What was the trigger of Japanese crash of 1989? What was trigger of 2007 crash that brought global stocks down 50%? We don’t know these things ahead of time, but something will always move markets up and something will always move them down. I would guess at the present time, given markets from the 2009 lows have in many cases increased by as much as 100%, that they are no longer very cheap. .... Something could come along, geopolitically or otherwise. I would be very careful being overweight equities. I still have 25% in equities and 25% in corporate bonds.” He said he feels “deeply uncomfortable” with that much allocation to equities, but also doesn’t want to shut stocks out entirely given the possibility they could still rise significantly before a correction. “In the 40 years I’ve been working as an economist and investor, I have never seen such a disconnect between the asset market and the economic reality ... Asset markets are in the sky and the economy of the ordinary people is in the dumps, where their real incomes adjusted for inflation are going down and asset markets are going up. “Something will break very bad”
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