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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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Save the bogus anonymous interweb calls for Yahoo Finance, you lying sack of shit.
Ok fuck face go back and look most posters have seen me talking up nvda for 2 months... Chips for handhelds, tablets, new deal with armh and microsoft ...
Just like X,Zeus,XOM,RIMM,ARMH,MPEL,JPM,DB,JOBS,HOLI ect ... All runners ...
You wanna post 5 names for us .... ? I'll post another 10 ....
Spalding... did you ever realize your initials are "SS".... hmm...
I have been following Faber for a while -- he, like all strategists, are wrong a lot... I must say his long term calls, for the most part, are really right on -- timing is off.
if you care, go to archives of Barrons Round Table picks -- this phucker was doing LONG/SHORT trades that make my mouth water -- short US homebuilders/long hong kong homebuilders... genius.... another genius piece -- his book Tomorrow's Gold -- if you trade and have a macro bent -- its a must read... just killer.
anyway -- I think longer term he is right. Short term - take it all with a grain of salt... if you go by permabears' recommendations you'd never buy a single share and just live in a bunker... happy trading...
ps as for the facts -- he does say equities are BY far a better place to hold assets vs cash as the govt will print its way into oblivion and companies' earnings power will prevail (over governments ability to repay)... so I dont totally agree with your statement...
Then you got about another year before the graphics card bump cracks it's eutectic ball mounts. Oh you said the stock.
'As stocks move higher' fucking braindead.
Jeez' Dog.... what's up with the miners what a fucking mess.
Who gives a shit about miners? Why would you ask ME whats up with miners?
He has a fetish for strawmen.
Just keep this guy away from the cornfields. Even the sheep-rapers look at him funny.
Actually.............Faber has said over and over again, the Dow may hit 40,000, but the currency behind the Dow will be worthless.
Go pick a burger and eat it.
Those impressed with their 'stock gains' will cash in (if theyre lucky) for worthless FRN's. The short-sightedness is amazing really.
And then pay taxes on the "gain".
Inflation taxes that which stays the same in addition to real gain.
"Profit" minus capital gains tax minus inflation = net loss. These "gains" are nothing but a hoax.
Faber's laughing at the end of the tape and nodding when the interviewer says he called Bernanke a liar, and then he adds, "that's for sure", still nodding and grinning.
Classic.
+14.9 trillion!
His look could kill!
I think these posts are always of quality and very well researched. However as I recall, the last post that classified Obama as a "whore" was Faber's quote that leaders (including Obama) masquerading themselves as whores. He didn't come right out and slap him in the face by saying "Barrick Obama is a whore", rather he said that his actions make him look as such along with other leaders actions. Just as he is saying the same thing here when referring to Bernanke who we know has not been able to keep his word on a number of issues. Why? We don't really know. Neither am I defending the mans actions, but rather what I am saying is, desperate measures produce desperate behavior.
In these times we already know that politicians are not very good at keeping their words or promises. We know they are more salesmen than leaders. In truth we've known this for years. However we may give the man some credit that although a liar he is confronted with situations where we ourselves might have to bend the truth a bit at times to get policy through where we know we will be met with firm resistence if we don't "sugar coat it" so to speak. I have very little use for politicians so please do not misunderstand what I am saying here. The qualities they have are far from "Humane" but that is the behavior they are confronted with on a daily basis. They are told lies by other governments and they in turn must put up the same smoke screens to defend against perception and the people, in a demacratic society. I am not a propeganda spreader and I am not a public relations council (thank the good lord). However let us be very careful how we paraphrase and how we classify these people, lest we create the very environmental conditions that we accuse them of doing to us. These times are trying for all and we have made an enromous amount of foolish mistakes. I can't believe the man would want the very destruction of the country he calls home. After all I have to believe he is a father too. As a father I can tell you that I too have made misguided errors at times that I wish I hadn't and in turn made it worse by patronizing the very people I should have been honest with to begin with. If we look deep enough I think we have all made similar mistakes where others relied on us making better judgements or decisions.
MA, you use the word ' we ' quite often in your post. That crap doesn't fly with myself and the untold number of men and women that play by the rules, and have and continue to be screwed over by the powers that be. Take that we crap and shove it .
Hey, it's the Royal "We", after all it is Marcus Aurelius... :)
If you're going to post more words than the original topic contained, make sure you're actually saying something.
The BenBo cares only to please his masters. His children will be all set no matter what happens to the US economy.
Time to stop debating when on when TSHTF and just stock up on food for a year at least and plenty of weapons...dont be like these foreign disarmed people who can only throw chunks of asphalt.
Great bumper sticker I saw about 10 years on an old pickup drivin by a good old boy:
"You can have my gun, bullets first!"
Copper
Bearish Butterfly.
http://99ercharts.blogspot.com/2011/02/copper_02.html
http://www.zerohedge.com/forum/99er-charts-0
"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."
Nuff said.....
I think if Pakistan and Egypt crumble it will be no big deal.
After all they are rally far away
Message Sent from my Ipad at Starbucks streaming Netflix movies sipping a Trenta sept Carmel Machiatto
Why isn't anyone bringing up Bernanke's role in this global uprising? It's unbelievable.
williambanzai7 is the man!
http://www.youtube.com/watch?v=FvmLboPb2Mo
Its all the central banksters fault, the FED is a world organized crime syndicate nothing more... well at least we're saying it on Zerohedge, stoke the brush fires as they say. All these clowns Bernanke, CNBC Blowhorn crew, Geithner all of them look around here and see not everyone is fooled.
http://www.bloomberg.com/video/66379584/
Just let the Bernank go into 'remove liquidity in 15 minutes' mode...lol DOW should reflect about 3,000 real quick!
Bernanke and BLS economists LIE, especially concerning US inflation. Bernanke's prevaricators rape everyone, but Wall Street bankers and the financial elite, and cry, “Stop ridiculing us.” Proving, once again, you cannot have your cake and eat it too.
Whatever made you think the Fed wants to "tame inflation". The truth is that the those pulling the levers behind the curtain what to unwind the mountains of debt using worthless paper. Everyone else (especially those prudent savers) can be damned.
Exactly. What we are seeing is the beginnings of the release of the ' new money ' courtesy of the Fed. What a tragedy. Seeing the beginnings of the inflationary storm is like watching a slow motion train wreck. Reading Zero Hedge and a few other financial sites is like being in the Wizard of Oz, and finding out who is actually behind the curtain pulling the levers.
Pu is enriched; when it is created in a reactor it contains several isotopes including Pu-239 and Pu-240. It must be enriched in Pu-239 to make it weapons-grade.
Crude
Channel.
http://99ercharts.blogspot.com/2011/02/crude_02.html
http://www.zerohedge.com/forum/99er-charts-0
He is bitter at the US for sitting on gold prices.
He is bitter at the US for sitting on gold prices.
Very true. And right now Au is a beach ball underwater.
In all reality, H. Wanger probably has a better performance record than M. Faber.
AAPL better return than SPY on 5D, 1M, 3M, 6M, 1YR...
M. Faber needs to be junked for all of his calls that haven't panned out. Doesn't he know it's immoral to yell fire when there isn't one? Ya, there's a gas can and a box of matches in the corner that could blow the whole thing up at any time, but if you don't have the timing right, you'll just end up looking like a fool.
" Doesn't he know it's immoral to yell fire when there isn't one?"
Well, yes, if there isn't one; however, is it not also stupid to invest based solely on the opinions of one man?
My advice would be to turn off the financial propaganda press and do some old school research re: whatever you're into at the time. That would be worth the opinions of 10 HNW investors.
Let me correct your analogy. He is yelling fire when there's a gas can and a box of matches in a room full of monkeys. No, there is no fire yet. However, what's more immoral: pointing out the danger too early, or denying that there is any and then saying "Nobody could see that coming" when the building burns down?
5-8% Inflation in the US feels about right! Actually it feels wrong to me!! Pass the KY please!
fuck it, i'm long the Rapture and shorting the Apocalypse.
You're long... but are you hard?
We Americans are conditioned to be lied too. Rah, Rah, Rah, bring on the cheerleaders and more cowbells!
Ayatollah Obama won't let things get worse. He'll get support fromt the rest of the Ayatollahs. I'm sure of it!
"Marc Faber is on a roll these days... a truthiness rampage"
Keep going Marc, one of the few amongst the establishments own colossal and continuos bullshit machine
I think we export most of our inflation. Maybe that's the plan!
Dr. Doom bitchez!
(Peter Schiff and Nouriel for kidz) (tiny violin...)
http://www.youtube.com/watch?v=UyMPLiizIzg (2oo8 was the "event
"?")
http://www.youtube.com/watch?v=6mKRYlCiRfo (Paul Revere lives here!)
Frankly I'm amazed that Faber is actually still allowed on channels such as CNBC and Bloomberg,Keiser certainly isn't.
If he keeps saying things like this,he will be having a pot of Polonium tea or an "accident".
Let's just continue to pray for Ron Paul's safety! IT took almost 100 years for this to happen.
The FED has ruined billons of lives. We are almost there!
Like Ron says, "The FED will end itself".
I hope you people own Gold and Silver. All other money might be rejected.
Food is important (Egypt is trying to tell us something).
Well said and I totally agree with you.
Ron Paul is the best we have and I personally hope that he runs for President.
I don't know who said it , but it goes something like 'If something can't go on , then it won't'. Hunger and poverty and sickness might become a way of life, if we are not too careful.
Over the years I've mistakenly put my trust in Banks, Government and Religion and been screwed over in the process.
Trust what is pure, has intrinsic value and you can hold in your hand.
I guess that sums up what I believe in...
silly comparing Keiser and Faber. Faber graduated top of his class for PHD in economics at 20 yrs old; ran asia banking for DLJ (I believe) for a decade or two and has been at strategy/managing funds in global-macro for 40 years.... Keiser is a journalist, never ran money etc etc... apples and oranges
You are wrong:
"Keiser has been involved with markets and finance for 25 years. He started his career as a stock broker on Wall Street after graduating from New York University."
"Keiser is the creator, co-founder and former CEO of HSX Holdings/Hollywood Stock Exchange,"
http://en.wikipedia.org/wiki/Max_Keiser
He's talking his position, but he is correct inflation is alot more than what is being published. Also I agree with him that Pakistan will crumble, and thats because the central govt. doesn't control the military and the military needs help from the tribal citizens in order to keep some sort of peace.
You just wanna pinch his cheeks and hug him when he tells the truth. :)
Bernanke is a liar? Who knew!