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Marc Faber Calls Bernanke A Liar, Thinks US Inflation Is Running Up To 8%, Believes Pakistan Will Fall Next
Marc Faber is on a roll these days. The Gloom, Doom and Boom report author, who recently made headlines after calling Obama a whore minutes ahead of the president's SOTU address, proceeds to go on a truthiness rampage, and with his now traditional grin, proceeds to call Satan Bernanke a "liar" to the entire CNBC Europe audience. In addition to making his thoughts clear on the topic of inflation (5-8%), he also observes where the Egyptian riots will strike next: "You may not have a problem in Saudi Arabia and in the Emirates, in Kuwait and Qatar, because there the governments can heavily subsidize food if they want to. But I am worried that what has happened in Egypt will happen in Pakistan... I think Egypt is a reminder to people that politics, and social events, and geopolitics have a meaningful effect on asset markets. The developed markets have way outperformed, and now I think that it may be a wake up call that the US outperforms emerging economies for a while." As for inflation "The annual cost of living increases are more than 5% today and the BLS is continuously lying about the inflation rate, including Mr Bernanke, he's a liar. Inflation is much higher than what they publish. I think that inflation is between 5% and 8% per annum in the US, and in Western Europe, a little bit lower, also 4-5% per annum." Oh yeah, Pakistan has nukes.
h/t etrader
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'Foreigner'? Look who runs the US govt, dumbass.
Ehud Barak Hussein Obama Bush-Saud von Rothschild?
+99%
You're not going to believe this...and I mean that !
http://fedupmontrealer.blogspot.com/2011/02/itanimulli.html
Implies that Illuminati = NSA ...at least backwards!
LOL....the wittiest thing I have heard in a while
I would hate to have to print this name on my Christmas cards!
He prefers ObeyMao, for short
To the above group... is this the end of your racist attacks on the legitimate (there was an election, and he won rather handily if you recall) leader of the "greatest country in the world?"
Real men take to the streets with grievances (and maybe put forward some positive alternative policies)... wankers like you just spew thinly veiled racist vitriol, echoing their favorite slimy GOP / Tea Party cowards... Glenn, Shawn, and Sarah (although they seem to be in the process of throwing her under the bus... a shelf life issue I believe) would be proud.
Pathetic... and getting very old, and very tired.
I guess you missed the "Bush" part of the above name.
I can't speak for others, but I hate both Republicans and Democrats, and I savaged Bush just as much or more than I do Obama, and I have called for Beck to be dragged down to the lowest circle of Hell for his betrayal of the libertarian cause.
Ignorance isn't bliss. You ignorance is just a tool that your masters use to turn you against your peers. Cries of "racism" are nothing more than a way to shut down any and all debate.
Take back your accusations of racism, or go fuck yourself.
Damn! You beat me to it!
... as are "racist cries"
SRV.
I see you have guitars as an avatar. That must mean you're into music. OK. The San Fran Seattle crowd is probably not real comfortable here in the midst of real freedom of speech and the press. The bigotry does often get a bit ruthles and you are certainly welcome to speak out about it. However, your comments impress me as coming from the vast group of brainwashed sheep who believe that criticizing a black president is racist which, when you think about it, makes you the racist. You are preoccupied with Hussein's race. Too bad. The reality, IMHO, Barry is a jerkoff communist and a well documented liar mutually exclusive of what anybody before him did. He has not a clue what the fuck is going on and you know even less. So do some real research and grow up.
No, racism simply doesn't add anything to a given conversation. You attempt to shut down valid criticisms by calling them "racist.
So yeah, go fuck yourself.
Globalist stooge is a race now? Who knew?
They sure seem to be breeding like flies...
Dr. Faber is not fuzzy, at all. He has the very unusual habit of saying exactly what his analysis reveals to him; I'm not interested to betting against him.
I just wish Marc would let us know how he really feels.
sorry double post
H/T to TD and ZH for accurately reporting the real inflation while the B(L)S and every other fraudulent agency said there was none.
"This shits got to end"
Thanks to Tyler at ZH, John Williams at Shadow Stats and the Internet...
We have the information necessary to rename the B(L)S to B( )S.
Internet Key to Dissemination of Facts
Prior to say '95 or so, without the free flow of Internet information giving rise to indispensable facts dissenters like Zero Hedge...
Some would intuitively know the government and finance oligarchs were lying...We simply would not have timely facts from ZH et al to make a difference.
The majority of Amerikans would be totally sleep walking. Some of the sheeple are starting to get it...
Fight the Obummer-Leiber-Douche Internet Kill Switch
Fascist control of the Internet will hamper the people. Alternative news sites like ZH et al, are crippling the Worthless, Corporate Whore, Dinosaur Media...
The bankruptcy and disappearance of clowns like CNBC, CNN, ABC and too many fools and useful idiots to mention... are a bennefit to the people...
Hence the Fed bailout of GE... and the crying of the worthless media whores for their own TARP...
In Heaven, everything is fine. You got your good things, and you got mine.
Eh! A Pixies fan! Good to meet you :)
You forgot the worst corporate media whore, News Corp., aka Fox.. Otherwise, a good rant that I can't disagree with.
Judge Napolitano is featured on the Fox business channel.
Agreed Flakmeister
Who let that Douche-Bag Rupe in the country in the first place... Let alone who made that undesirable alien a citizen?
You know we need to tighten the borders when Murdoch gets in...
good thing Pakistan doesn't have nukes
and remind me didn't Pakistan get rid of their dictator Musharaff a couple of years ago?
just now on Bloomberg TV Marg and Keene chatting - "it's amazing how in the last 12 hours everyone has gone over to the Stiglitz view of the situation in Egypt Yesterday at this time everything was contained and under control and now ...."
Salinger get your facts straight
Pakistan has between 150 and 200 nuke warheads and are going full steam ahead in enriching more and more plutonium.
Uhh. Your sarcasm detector may be unplugged. Better check.
Perhaps his sarcasm detector has been compromised by Stuxnet.
You should be able to detect such obvious sarcasm, especially if you spend even the smallest amount of time on ZH.
By the way, plutonium isn't "enriched". Plutonium is separated from irradiated uranium fuel. The fissile and non-fissile isotopes are then purifed and converted to metallic state for use in weapons. For some power reactors, uranium fuel can be enriched with fissile plutonium for energy extraction.
f-ing logins and text editor bull s#*t
I meant to post this response here.
Pu must be enriched to make it weapons-grade. It comes out of the reactor (where it is created) with several isotopes including Pu-239 and Pu-240. The Pu-239 must be enriched and the Pu-240 must be minimized.
holy shit, you're kidding! do you have a link? that could be serious.
Pretty obvious sarcasm to me at least.
oh the total lack of negative waves!
well played, you Jungle liver, you.
Don't be a smart ASS
Pakistan also has sophisticated ( much batter than Indian ) delivery system. Pakistan has developed its own cruise missile as good as Tomahawk cruise missile, named the Babur missile.
Cool, let's buy uranium stocks, hehe.
Those numbers are questionable, but possible.
Plutonium isn't enriched, its processed from the spent fuel of a breeder reactor.
good thing Pakistan doesn't have nukes
You must be joking. Otherwise you must be a Category 5 Moron.
I have to say that the intellect of many of the posters here at ZH has deteriorated to levels unimaginable a year ago. Did a Yahoo message board get shut down or is school out today?
Well, it IS a snow day over much of America today.
yes, it is obvious that many recent posters have not passed the eating of their own excrement state of development.
/sigh/
lol, strike out the "recent" lol
I believe that no new alien illuminati abduction videos have been posted on youtube for quite some time.
+1
no the natives are just getting restless and angry at the state of affairs in our country. including myself
I called my friends up north on Sunday and told them to stock up on food, get cash out of bank, and keep the gas tank filled. I have a strong feeling the SHTF soon. One of them had no clue about Egypt and what is going on. Most people are like that.
Didn't you tell them that last month? And the month before?
Tell them to watch the Zeitgeist 3
I get a kick out of all these idiots with feelings about the end of the world. I gather that most are over the age of 50 and what they are mistaking for a general malaise in the world is really just them not being able to get it up anymore (loss of essence, see Dr. Strangelove for details).
I doubt it... people over 50 have actually seen crises... they have been conditioned to dispense with irrational fear... [of course, it also prohibits them from using deduction instead of induction for our present predicament]
Idiots abound. Including those who discard history, using denial. Great grandparents stocked up. Protective reasoning, justifiably so. Those of us far younger than 50 and comprehending potential need, laugh openly at the grazing idiots. You've been trained.
Regarding history, I heard a good one yesterday: People who think history rhymes just don't know the details.
\
On the contrary- I find the teenieboppers are the ones who will be in for a big surprise. Still wet behind the ears and so naive to the rapidly accelerating chaos.
My parents lived through WWI and WWII and I never doubted their precautions. They lived through hell. Have you? The fact that the US has never seen a single war on it's soil explains your [fill in the blank]
I suggest you stop worrying about other's sexual dysfunctions and worry about your mental dysfunction of cognitive dissonance.
French and Indian, Revolutionary, Civil, Alamo, Hatfields and McCoys, Repubs and Demogods, McCain and Common Sense, Barrack and Oil, Congress and Everybody Else but Bureaurats.
double digit inflation in russia.
http://nakedempire.wordpress.com/
when isn't there double digit inflation in Russia since the 90s?
Great Post. There is only one thing that comes between a man and his wisdom and defies all logic ever conceived in the human mind... POMO . Wisdom? We dont need no stinking wisdom. POMO
Supreme irony in that quotable quote ploce.
ORI
The ass of deflationists is hurting so much right now.
Thank God, they will have their FRNs to sponge the blood.
LMAO!
I cant believe anyone really concluded DEflation would be the result of flooding the world with trillions of reserve currency FRN's. UNless the deflation they meant was in everything they own and are trying to sell.
Usually, deflationists will talk about Japan.
This is their only example, and that's quite sad, as Japan has nothing to do with the current situation.
The ratio of hyperinflations to deflations in a fiat money world is 100:1.
We're all hyperinflationists... we only disagree as to timing and the ultimate mechanism for repudiation of the currency... anyone who is a deflationist without acknowledging that we cannot repay our debts is a complete idiot and should be avoided at all costs.
Why you make defrationist so ronry. They so ronry. You bad man.
http://www.youtube.com/watch?v=xh_9QhRzJEs
I think context is important.
Has hyperinflation ever been visited upon a world reserve currency?
Is it possible that in a closed system (i.e. no rapid change to the status quo) there is no exported inflation into sovereign currencies abroad without deflation in dollared valued assets at home thanks to QE?
The difficulty may be in trying to quantify the local and regional asymmetry of this effect before the status quo changes rapidly and the balloon pops. This may suggest hyperinflation will only be visited on the US domestically when foreign currencies aggregate around an alternative outside the control of the FRN. Perhaps oil defined by Euros and the yuan (courtesy of the BRIC) in a regional oil supply shock scenario?
Enter the Dragon
You're getting ahead of yourself. There is no alternative fiat before the collapse of the dollar. It will not be replaced... All the world's central banks are all in on the dollar. The dollar will die and then there will be a free for all... chaos and uncertainty will prevail for a short period thereafter and, eventually, another currency or currencies will pick up the torch, likely expressly backed by tangible commodities.
Yeah, I know. Just trying to game scenarios within the context of QE, the ME and a drive for One World Currency...
I think he is right on....this isn´t over by a long shot....just the chaos today added 1%...when Egypts banks fail when they open....a huge run on them I assume...and food runs out....rice imports are stolen when they arrive....all hell is going to break out...and Pakistan is right behind...
A true tinder-box eh, youngman?
Add India into the mix right there. It's in the news for all these happy happy business reasons but the reality on the street is pretty damn harsh. Bangalore would almost do Dubai proud, with all th emigrant labourers working 24/7 to put up white elephant projects and ugly oversize, poorly designed buildings. I'm sure (and actually know) that is the case in most large Indian cities. And it's all paid for by the liquidity froth from benbabwe's awesome presses. The smug blindness of the middle class, the nervous rocket ride up for the wealthy and a teeming, dis-located and over-worked diaspora of the under-class.
if nothing is done, India's unravelling will be a sight to be-hold. We did not handle our last partion too well.
Everyone needs to hunker down and watch. the game is getting real.
ORI
http://aadivaahan.wordpress.com/2010/07/13/whither-india/
Interesting blog ORI. I don't agree with everything but food for thought nonetheless.
I am quite surprised CNBS did not edit his comments like they did that Asian bitch who was caught off guard when asked about declining home prices. What a fiasco!
Fuck them and anyone who dares to censor the truth!
Was that the Michael Pento interview?
DavidC
Yes. I couldn't think of who they interviewed. Thank you.
What a joke. I should have saved the original before it was deleted so I could pass it on!
+1
Long popcorn.
Yes I've been paying attention to India as well although its not making CNBC headlines, and its not good!
As harsh as this will sound, I really have to express how much I dislike India. Those fuckers have been eating my lunch for the better part of a decade now and I'm sick of it. I'm sick of the fucking Chinese, too. Let them get their own shit together, which means a big die off.
I'd take a long and hard look at the captain's of industry in the US Aero, they were the decision makers.
And I'd be happy to see the peon call center jobs go back to the US or wherever else they came from. They've done India and Indian's no good and in fact have destroyed an entire generation of Indians.
ORI
http://aadivaahan.wordpress.com/2010/07/13/whither-india/
Its better if all the jobs of the US go back. It would also mean that any and all trade with the US should stop, imagine what a blessing it would be to the Indian people to see companies like coke, Kraft, HR block, Intel all are locked out from the Indian markets. It would be awesome, hiring here will shoot up everyone will have jobs and it will be time to rock and roll and everybody buys another couple of houses.
Whereas in India life in the metros will become hell to some, but to a large majority of Indians it will be a blessing, employment there will also go up because now they need more factories to serve the market vacated by the US companies. So essentially everyone trades within their borders.
But, in this world which some think is utopia, with plenty of jobs. It still would suck because the companies which used to sell 75% or more of their products overseas no longer have that market and will downsize, so fewer Americans are hired. You will see some companies come back and the job market boom but there will be plenty that will downsize. So an engineer working at Intel will now have to retrain on how to operate machinery say at a toy factory.
"inflation (5-8%)"
the current movement into precious metals and other tangible goods will continue as long as real interest rates are negative
with 5% inflation and 0% interest rates, real interest rates are negative by at least 5%
to get back to positive real interest rates the Fed would have to raise interest rates above the inflation rate
a Fed interest rate higher than the 5-8% inflation rate puts 30 year mortgage rates over 10% and decimates the real estate market
the entire western economic system sits atop perceived equity in real estate
rock, meet hard place ...
We have to inflate all that equity up to where it is marked on the books before anyone notices. That is the plan.
They can't raise it...the cost of servicing the debt would be crushing. Just a 1% rise would put the cost on par with SS/Medicare.
Sounds like Faber has been watching Glenn Beck
Shadow Stats has already confirmed Faber's higher inflation (I thought everybody knew this)
BTW, Bernanke said he'd slam on the QE brakes when inflation hit 5%
He's going to have to come up with bigger lies before long.
I posted the other day that I was reading a reference about the real inflation rate in the US being 19%- that was a typo- it was 9% not 19% but it was based on the stats at shadowstats and a commentary by an economist who said he agrees with their findings.
Either way, 9% real inflation in the US is dangerously close to... [fill in the blank]
Or bigger brakes.
BTW, Bernanke said he'd slam on the QE brakes when inflation hit 5%
He just has not been able to free up the required 15 minutes.
Gwar -- i think u are missing the point; or your point is not coming across well.... REAL inflation may be well above 5% - heuristcs etc over the past several years has adjusted down true inflation... Shadowstats adjusts back inflation to its levels before all these changes were in place...
So your comment -- if/when bernanke slams on the breaks with 5% inflation -- your purchasing power have gone down by 10%++ already (compounded)...
aside: the trip about all of this is there is a PUSH-PULL in inflation/deflation --- deflation in housing, wages, manufacturing (due to globalization + spare capacity) but INFLATION in inputs (commodities). .. I think commodity inflation will work its way into the system and overwhelm what is happening on the deflation side...
reminds me of a story -- you can have your head in the fire and feet in the freezer and on average you feel fine....
i have been preaching the same.
lets see:
residential real estate going down
bond 2.2%
stocks avg div S&P 500 1.73%
ALL NEGATIVE real rates of return.
Devil will raise hell soon enough.
Bernanke is a LIAR.... and so is the US gov..
Kooks With Nukes. That's the Pakistanis for ya. They have a worse ratio of poor to rich, a well entrenched oligopoly and financial class that doesnt pay any taxes, and an inferiority complex and obsession with India. That is a sure recipe for black swan stew.
black swan stew.
Lol. Could even be a searing Vindaloo that burns! Don't forget the other neighbors they worry about: China and Afghanistan. US bombings, political meddling and politics add spicy ingredients to the stew
The rich corporations and the too big to fail bunch of banksters can get away with murder, fraud, coercian, harrassement of the general public and any other illegal activity under the sun because they have a lot of influence on the political class, the rule makers and the rule enforcers due to their enormous purchasing power. So irrespective of the position in the government, everyone works for their benefit.
The politicians around the world are nothing more than auction items which can be sold to the highest bidder. They will do whatever they can for the lobbyist paying them the maximum amount of money or votes, be it the unions, the banksters, the richest corporations or individuals. They are in the power seat to extract maximum advantage for themselves in the small time frame they occupy the seat of power.
The rest of the population is least of their concerns. The only activity they do is pacify the majority of the population using false statistics and promises of a better future so that they do not lynch them and their masters while they are robbing the taxpayers.
http://www.marketoracle.co.uk/Article24581.html
If the mob broke into the Mummy Museum what weapons of mass destruction does the army have that could be transferred to the control of the mob?
Right now, on AJ, things are getting ugly fast!
Zeitgeist in action!
If the mob broke into the Mummy Museum what weapons of mass destruction does the army have that could be transferred to the control of the mob?
the mummies of course....
It's no secret that in a fractional banking, high liquidity environment, savers are systematically screwed by real rates...
Official CPIs are false or flawed, just like crime stats. No government has an interest in telling the truth on problematic statistics.
As long as fractional banking and the FED exist, save in gold and silver.
Like myself. I have been a lifelong saver but they don't like people like me. They want me to spend spend spend. They manipulated the markets and screwed me over for their own selfish gain.
I don't buy the latest and greatest. I only buy when I need to.
My turn to screw- buy silver. No cash. Zeitgeist3 is interesting concept.
http://www.cnbc.com/id/41387362
I like this one
Finaly some1 is calling screw the fed on CNBC
Its sure changed a lot from the euphoria days of 2008 when Bernanke was Time Man of the Year, FED could do no wrong, and they practically crowned him and Geithner and Paulson the new messiahs.
They tried Iran- Israel war--- fail
They tried S Korea- N.Korea war--fail
Now will they try India- Paksitan war?-- lets wait and find out.
Smart guy, Faber. Pakistan is indeed the big teetering domino. Much more precarious and unpredictable than Saudi Arabia. Their food inflation is serious. Their internal political structure is fragile and full of conflict. And US drone bombings haven't helped. The danger is not just internal but could spread to India and Afghanistan. And when a member of the nuclear club goes postal anything can happen
Seems to me the Paki's would be much more likely to support a "strong islamic" regime than Egypt. And they may fall/change quicker & more violently.
Maybe in all the chaos we can find that tall skinny guy we've been looking for.. what's his name again? bin-Hideeng?
Faber is smart & tells it like it is. Refreshing, yes. Comforting--no.
If they include wages & housing in the pricing numbers, that'd sure cut down the inflation figures.
SPX
Wolfe Wave update.
http://99ercharts.blogspot.com/2011/02/spx_02.html
http://www.zerohedge.com/forum/99er-charts-0
Given the state of de-industrialization in the US isn't it about time the Bureau of Labor Statistics started being more accurate and remove the 'L' from their moniker?
At the end she says Bernanke is a liar quoting Marc and then Marc chimes in with, "THAT IS FOR SURE!" Lmfao....
The look of disgust that flashes across Marc Faber's face a few times is akin to checking your kids diaper and coming out with fingers covered in baby poop.
Yuck!
Every time Faber checks the world's diaper, he finds it full of crap and getting worse. Clean up on aisle 3 please.
<UNJUNK> your <JUNK>ing
LOL. What a poetic analogy... Better lighten up on the Mad Max Report there CD...
The Crack Up Boom per Von Mises:
"'This first stage of the inflationary process may last for many years. While it lasts, the prices of many goods and services are not yet adjusted to the altered money relation. There are still people in the country who have not yet become aware of the fact that they are confronted with a price revolution which will finally result in a considerable rise of all prices, although the extent of this rise will not be the same in the various commodities and services. These people still believe that prices one day will drop. Waiting for this day, they restrict their purchases and concomitantly increase their cash holdings. As long as such ideas are still held by public opinion, it is not yet too late for the government to abandon its inflationary policy.'
"But then, finally, the masses wake up. They become suddenly aware of the fact that inflation is a deliberate policy and will go on endlessly. A breakdown occurs. The crack-up boom appears. Everybody is anxious to swap his money against 'real' goods, no matter whether he needs them or not, no matter how much money he has to pay for them. Within a very short time, within a few weeks or even days, the things which were used as money are no longer used as media of exchange. They become scrap paper. Nobody wants to give away anything against them.
"It was this that happened with the Continental currency in America in 1781, with the French mandats territoriaux in 1796, and with the German mark in 1923. It will happen again whenever the same conditions appear. If a thing has to be used as a medium of exchange, public opinion must not believe that the quantity of this thing will increase beyond all bounds. Inflation is a policy that cannot last."
That is an excellent quote. Thank you for posting it.
So Mises is more or less saying "When you gotta talk, talk. When you gotta shoot, shoot." Eh, Tuco? Economically speaking, of course.
It will be a cold day in hell before Americans riot like others are doing around the world. I have little faith in my fellow citizens to rise up against the powers that be. Most people in this country have no idea who Ben Bernanke even is.
that is so true, nothing will happen until the food stamps checks stop coming.
In the unlikely event that ever happens, there will be some mass distraction used to take care of it. The PTB will get away unscathed.
I agree 100%. Perhaps people need to watch Zeitgeist 3...
No thanks, I dont have any need to enter a cult.
True, but it provides insight into the general movements. Think Gerlad Celente and trending theory...
Just watching it for fun...
Americans will revolt exactly when the following conditions are met:
1) They can't get a Big Mac whenever they want to.
2) They can't drive to the mall whenever they want to
3) They can't watch reality TV whenever they want to.
4) They can't get heating in the winter and AC in the summer.
Clean up on aisle 'free'
http://www.youtube.com/watch?v=tVQRMrlQ95U&feature=related
[Edit: To tweak link. Same content]
To me, its a much bigger illusion...with 43 million on food stamps that means 4-5 per 'food stamp' or 150 million or so americans ONLY eating due to govt handing them money to keep calm. Half of america is only getting by due to those checks from a bankrupt govt and how long can that really last and as food and fuel get more expensive every day, the breaking point could be quite sudden.
So can we all agree the end game is here?
As they say in Egypt, "Game Over."
You're absolutely right, my comment was 98% snark.
The notion that everyone in America is "middle class" fascinates me. As Americans have agreed to define "middle class" as the "freedoms" I enumerated above (fast food, cheap fuel, entertainment, and HVAC), it's been a pretty easy social contract to maintain. Panem et circenses, after all.
Now -- I forget: why did that stop working in Rome?
;)
Which part?
Pompey secured the flow of grain, promoting his powerbase. By the time Vitellius took over, Vespasian was finishing up - with his son Titus, as in "The-Father-and-the-Son" - the Road Grading of Judaea.
Where did Vespasian go just before sailing to Rome to become Caesar? To Alexandria, to secure the grain shipments in case he needed to starve Rome into submission.
We've been worshipping these events for 2000 years and haven't learned the lesson yet.
CW
PS: "Lemme see..."Galba-Otho"...Where have I seen something like that combination of syllables before...?"
The parallels are fascinating. Rome=USA. I especially find the "percieved welath" the most incredible aspect.
ERCOT in Texas is doing what it can to save consumers money. It has instituted rolling blackouts.
No shit. Crap pants moments on the ERCOT trading desks right now.
As long as folks don't get into the ERGOT...
I think Faber is flat out wrong on Pakistan's exposure to food price inflation because the country grows it's own food (wheat). Also, their other big commodity export cotton is at a 130 year high. The country is highly unstable but I doubt food prices would be the catalyst the light the fire.
Egypt on the other hand is the largest importer of wheat in the world. Yemen, Jordan, Algeria are also significant food importers. If the dominos were to fall I would focus on those countries.
But didn't Pakistan just have some severe liquid snow which displaced millions and caused another international appeal for aid.
yeah. But a quick google search show that they are still a wheat exporter this year. The point is that there are a million other reasons for the country to fall in anarchy like islamists, drone strikes, war with india. But food riots is much lower down on the list than it is for some countries in the middle east which import all their food.
A good observation, but I remind you that Ireland was exporting potatos in the middle of their famine...
they are still a wheat exporter this year.
Be careful. The class of people that owns the wheat and exports it for profit are not the same class of people starving to death for lack of food. Capitalism is funny that way.
Capitalism is funny that way.
Stalin's agrarian reforms took the food from the mouths of starving peasants too. That kind of thing can only happen when free markets are absent due to oligarchical control. Capitalism is not the problem.
Yeah, you are correct. But text book capitalism does not exist, has not existed and will never exist. Something to do with those pesky oligarchs. So, we are sort of arguing about how many bushels of wheat can you balance on a head of a pin.
Actually Stalin was exporting grain to the west because the Soviets were desperate for hard foreign currency for J.S.'s industrialization program...
The White Sea Canal was a rousing success...
In case there is any question about the last sentence...
<SARCASM><OFF>
How much wheat would Pakistan grow if their supply of oil were disrupted?
That nazi can't treat our prezwhore like that, only we can treat our prezwhore like that!
I thot throwing shoes was traditional.
dear satan bernanke,
http://video.google.com/videoplay?docid=4938067418335854417#
Marc is so very right. The public is totally caught off guard, and coming events will be fast and furious. Seat belts, everyone.
Good on Faber for correctly calling out OVERPOPULATION and underdevelopment (leading to a low GDP-per-capital ratio) as the true causes of this crisis.
What about Peak Oil?
Faber while discussing inflation here, just this week called for a 20% correction in gold. That would put gold around "1050".
it's still correcting; and was down to 1310 before Egypt went red; then people said, oil, via the suez canal and gold went up $30 in a day. It's coming back down now, but guarded; now 1332-1333. Predictions are made against "knowns" Egypt was an "unknown" and is affecting the price.
Missing links:
http://www.guardian.co.uk/world/2011/jan/14/population-explosion-seven-b...
http://en.wikipedia.org/wiki/Club_of_Rome
http://www.prisonplanet.com/club-of-rome-behind-eco-fascist-purge-to-cri...
http://educate-yourself.org/cn/mcgowanpeakoilandclubofrome14mar05.shtml
Edit: Addition of link to analysis of CoR publications with an admitted emphasis on Globalism and invocation of 'NWO' since 1999
http://www.laetusinpraesens.org/links/clubrome.php
Re: COR, funny how it turned out that the "Dirty, Fuckin Hippies" might have been right all along.
Ha!...not according to this guy [Warning - religious views collide]:
http://redeemedhippiesplace.wordpress.com/2009/09/15/gaia-worship-the-ne...
Here’s a view of the new corporatist cult commune collective:
http://www.appinsys.com/GlobalWarming/GlobalGovernance.htm
Arguing is easy if you choose to lump everything into cute little boxes. Unfortunately, the world is a bunch of round holes and there are a lot of square pegs bouncing around. There are plenty of loons on all sides.
Agreed, but I think we're just getting started. That's why it so important to think outside the box and consider all scenarios to prevent TPTB from putting you in one.
Go long loons...lol
Faber's a jerk ... He's been crying all year as stocks move higher ...
Got NVDA ... ? Up another 5% ...
No he hasn't. He bought nvidia at bottom and just sold it to you.
I bought in early December ...