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Marc Faber: If The U.S. Was A Corporation, Its Credit Rating Would Be Junk
Marc Faber discusses America's unsustainable debt load in this interview with Margaret Brennan on Bloomberg TV. An amusing observation: the GDP growth from each $1 of new total debt has dropped from $0.25 to -$0.60. Also some much deserved Bernanke and Krugman bashing. Why it is so difficult to realize that the only way out of the crisis is to cut corporate and sovereign debt, we don't understand. Ah yes, because for that to happen, equity values across virtually all of the US economy would be wiped out... And that would destroy the myth that there is any real equity value in America.
Full Faber interview.
via Gurufocus, h/t Mike
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Great line in the movie:
"We're all monkeys, know your drugs."
Do you know your drugs?
The difference between countries and companies is that countries can print their way out of the problem.
Central Banks and Shadow Banks have
the same effect in deflationary defaults,
which is to say, none at all...
http://www.jubileeprosperity.com/
http://www.xerox.com/index/enca.html
well put
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3585763
That is exactly our current problem... the printing has lost traction...
The US Army? Per its own data, the US army lost every evenly matched battle in WW2; the highest AWOL; so I dont know.
Hi, the way to exit from the serious collapse of sovereign debt is to devalue the currency against gold, or QE.
Going through some of the comments here suggests that Faber's example of the 'Long Depression' during the Gilded Age are ignored, that wages were stable in an environment of declining prices.
I would be looking for negative interest rate policy.
Personally, I wouldn't listen to anyone, especially Faber. I didn't hear anything I didn't already know.
I hope we don't get downgraded by those respectable credit rating agencies. They always do a good job .
You don't ever hear Faber talk about Japan or UK defaulting. He's a USA hating shill.
He hates our freedoms?
This market has support and more counter trend rally looks likely. SP00/DOW downtrend on the daily chart continues.
http://www.zerohedge.com/forum/market-outlook-0
My CIO doesn't hang his ass out on TV telling everyone how it is, why do you listen to these clowns that talk their own book all the time?
"And that would destroy the myth that there is any real equity value in America."
Now THAT is harsh!
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