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Marc Faber & Jim Rogers On Our "Clueless, Ignorant, Dangerous" Leaders
While the discussions between these two legends varied from Phat Phong nightlife to Dow 30,000, and from China bullishness to AAPL bearishness, it was the conversation about the actions of Bernanke, and more importantly our political leaders that summed up perfectly the dreadful reality in which we find ourselves. The punchline: "It is very dangerous to have ignorant people believing that they know something."
Rogers is bullish China long-term but buying Chinese stocks only selectively...
Faber sees under-the-surface weakness in US equities and while central banks could print us to Dow 30,000; gold and other commodities will be astronomical by then...
Faber is bearish AAPL, believes its a bubble - but too dangerous to short...
Both are uber-bearish central-bankers and politicians...
Marc Faber: "Both candidates are clueless and completely artificial..."
Jimmy Rogers: "It's worse than clueless, because they think they know what they're doing.. and so they are dangerous! If they were just clueless and looked out the window, we wouldn't have a problem, but they think they have the solution - but their solutions are what's making the situation worse..."
Marc Faber: "That is precisely the point. It is very dangerous to have ignorant people believing that they know something!"
Summed up perfectly, we believe.
Must watch - especially to hear the CNBC anchor squirming...
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The irony of a CNBC talking head repeating the phrase "clueless and dangerous". Truly hilarious. Marc & Jim are great.
So sorry to keep Trolling folks as I so often do but I was absolutely fascinated not by the "printer that can make a pair of shoes" but the same device "that cN manufacture a gun and thus was immediately banned by the government." these clowns really are total nut jobs...controlling manufacturing? It cannot end well. Humans are the most curious of living beings...you simply cannot stop progress. Many have tried....ALL have failed. Still...what a fascinating story. Not sure if it's ready for dinner quite yet...but given the chemical composition of a soy paste I fail to see why not.
You can, and many have, make a gun from a thumbtack, a car ariel, and a rubber band. If the people want a gun they can have one.
Several months ago I read a post on the To The Point website that stated that in a private interview of a "leading" Democratic U.S. senator's chief-of-staff, that he and his boss (and presumably others in Congress) were well aware that the fiscal policies (welfare/warfare) were going to lead the country into a disaster. However, he further stated that if they (meaning Congress) tried to do something about it that they would immediately be thrown out and be replaced by others who would continue along the present path. I remember that in the early 1980's the Democrats and Republicans came up with a true fix to Social Security however after announcing the new plan (and having actually passed it through Congress and signed by Reagan) a massive storm of resistance to the fix lasting two full weeks where the recipients threatened holy hell on the government) the fix was reversed and abandoned. Which means (in my opinion) that it is not just the bastards that run the banks and "defense" industries that are responsible for the serious mess the country is in, but the people of America, by and large, are fat on welfare (not to mention like watching the hell get kicked out of other countries and then looted) and won't tolerate any form decency or sanity and very soon are going to get a lesson in economics that they will boohoo about but will really deserve.
I think your memory of how the social security thing went down got confused with how the medicare "fix" went down.
It was the medicare thing that had old ladies beating on Senators with canes, and was repealed within months. If I remember correctly, it was a change to make it more for only catastrophic care, or making seniors pay more or something. Anyway, the old ladies and the Senators are all dead now, and we are stuck with the result.
You information from a Senate chief of staff makes sense, except it is not clear who would do the replacing. With the balance of your post, I got the inference the voter is who would do the replacing. However, that would mean the Senate is not doing the right thing because the American people don't want the right thing.
The american people were against TARP 70 to 80%. If that theory is correct, why did they vote for it? My answer: The real bosses wanted it. The real bosses are not the american people.
Will We Have Hyperinflation In America?
No:
http://dailycapitalist.com/2010/09/30/will-we-have-hyperinflation-in-america/
So all doomers can pack their stuff.
absolutely correct
it will be long slow and incremental.
you really think TPTB in western world can "control" this long, slow incremental descent into deleveraging thru "reserve" money debasement...?
They are hooked like junkies on the liquidity pump, these Bankstas of Ws and surrogates networked all over the world via "hyperleveraged" derivatives soup. There is a financial civil war of currency debasement going on, and maybe trade war coming; in this global crap house we call our financialised, modern world.
Just because we might not have hyperinflation does not necessarily mean that we will not (continue to) have a debilitating "normal" inflation, just as in fact we have right now, with the possibility of a sharp uptick in the same or even a currency crisis a al Argentina in 2001-2002, in which their (fiat) currency lost approximately 50% of its value in just a single month, and around 80% of its value in just a few months.
Inflation (currency debasement, properly speaking) does not have to be "hyper" to still end up stealing most of one's savings --- and one's standard of living along with it.
But is it probable in the US? It's not Argentina.
I have to conclude that my scenario is more or less inevitable.
Just keep wages frozen in nominal terms (as they have been) for another 10 years, while the dollar continues to depreciate at the 5-8% REAL rate that it has been for most of the last decade, and while interest rates are held at or near 0%, and what will the USA look like then? Do we really need "it" to happen all at once to lose our savings and standards of living?
As for the USA not being Argentina --- perhaps not, but neither is it the (relatively) fiscally and morally responsible nation that it was 50 or 100 years ago either. Today the similarities between the two nations are far greater than the differences.
your example is spot on akak and i think whoever is pulling the strings would be happy with a 5% decline in the dollar stretched as long as possible as opposed to one huge inflationary spike. we are the frog and the water is warm
Ok. So Mish' outcry against the hyperinflationists is a little pathetic?
http://globaleconomicanalysis.blogspot.nl/2011/05/hyperinflation-nonsense-in-multiple.html
After QE3 was announced, I was almost certain of upcoming hyperinflation.
But, someone brought to my attention that there is a huge amount of global debt denominated in US dollars. To repay this debt, there will be a huge demand for US dollars.
In addition, as baby boomers retire, downsize and spend less this will be deflationary as well.
Both of these things could offset the QE3 inflationary forces.
I think we will continue to see a mix of both inflation (food, energy, imports, etc.) and deflation (wages, jobs, housing, technology).
Anyone bullish on China is fucking crazy.
What does China have that makes it so special? low wages? It's not like they can innovate. The have admitted they have a huge problem innovating. They just can't. China is even more fucked than the USA. As tech continues forward and less and less labor is required what are a billion Chinese going to do? Go back to the fields. Foxconn is going to be laying off a million workers in the next couple of years. How many more Chinese companies will have to follow Foxconn to compete?
There is going to massive unrest in China in the next few years.
Everyone seems only focused on the FED and Europe etc but there are other things happening that may have a greater impact.
This has been all over the place in the last week or so but if you missed it you definitely want to take a look. Mc Afee's Ted talk.
http://www.ted.com/talks/andrew_mcafee_are_droids_taking_our_jobs.html
If I could give ya 2 "up votes", I would El Tuco! Nice post!
just a guess yen- paraguay? and their nice deep aquifers? who'da thunk? really?.... no? well, spilll the winky-links.......
China's apparent rise from the dead was just a death twitch. What was once the source of noodles, gunpowder, and paper (money), became the land of t-shirts and carnival prizes, melamine, and such brand names as Panosanic, Scharp, and Bored Oh wines (only the last is a made-up construct). Real home grown brands such as the Cherry car are absolute PsOS. The country has imported 19th Century European labor conditions, the dreams of the cattle call lines at American Idol auditions, and most of the world's current output of pollution. With an industrial policy based on theft, corporate "profits" that relied solely on RE speculation, an ongoing wealth drain as Party officials clean out public coffers, and a domestic population split on two bad sides of a shadow banking Ponzi (borrowers at 15% per month and "investors" promised 10% per month), an objective outsider might lean more towards the Hendry View rather than the Rogers View.
To assume the mantle of Superpower, a country needs some combination of military might, economic might, cutting edge innovation and an embraceable and appealing culture (the latter not a value judgement). China probably lacks all.
To paraphrase Jonathan Swift: When a true has-been appears in the world you will know it by this sign: books championing it lie on the steal-me table at Barnes and Noble.
What's not to love about widespread female infanticide, fried bear penis-on-a-stick, continuous sidewalk spitting and nose-picking, public male shirtlessness, sweatshop anti-suicide guards, and the ever-charming roadside crapping? I mean, damn, all that AND plastic rice and toxic petfood! Where do I sign up?
+1,344,130,000
just watched the TED. I thank you.
We could hope for aliens to realize that their earthly expriment with the human race went awry.
oh bore us all to hell and if there is a beyond hell
they will take you there. ..
Rockpile - Knife and Fork
http://www.youtube.com/watch?v=lh-jUgG_KYY
.
Muddy Waters & The Rolling Stones - Mannish Boy - Live At
http://www.youtube.com/watch?v=32YQYJuxyn0
.
ps. mavis coming up ....
.
Mavis Staples - I'll Take You There (Live on Later with Jools Holland 2010)
http://www.youtube.com/watch?v=l64Bte5ygvM&feature=related
.
show time, public entertainment and consciousness.
is it great people and spirit in service of
criminal design? or is it a war where spirit ,
through waves of sound, beats on matter relentless?
beats me. "i'll take you there" . a better place
awaits, certainly
You amaze me "blind man". Nothing slips past your "walking sti(c)k/pole" Did I miss a vowel?
Albeit you have assistance, I'm impressed!~
here hear this !
Willy DeVille - Cry To Me
http://www.youtube.com/watch?v=d0vfJ6-egdg
.
Professor Longhair-Junco Partner
http://www.youtube.com/watch?v=DG6gPe1plWQ
.
it appears to be all about assistance.
.
all vowels goes un turned re the tongue,
they emerge from the vocal chords themselves ,
uni - versal ! vowels are from the heart?
a e i o u.
i should set up an amazon' shopping link- .......new this week "rollingstones/muddy". "paulsimon/nyc".
not the wynton versions/sessions. .......but with mr.byrne on "you can call me al"
Professor Longhair Her Mind Has Gone
.
http://www.youtube.com/watch?v=0fHokM-ITfc&feature=related
.
" when a women starts doin' wrong
she wont do right no more. " .. p. longhair
.
The Staple Singers Respect Yourself Live Filmed Performance 1972
.
http://www.youtube.com/watch?v=oab4ZCfTbOI
.
http://www.wwoz.org/
live from naw' lens.
Mah Jimmy Rogers/Demopolis story. Let's go to !996 or 97, all I remember is that Auburn played Peyton Manning in the SEC Chamionship Game. Cant remember the year. There's a big to do called the NC Society of NY in NYC that weekend. 1st weekend on Dec. Simutaneous. We are there in the Upper East Side.
Yes, Jimmy, you sent my date Linda from Charlotte NC a pictorial history of Women"s Buns. Autographed. She still has it. I think.
So, didn"t like me. No problem. I was a poor boy from Sumter Co. AL (Gainesville AL) Being dat ol' poor boy sitting with Bill Belk at a front table, understand how you felt along with NC Gov. Jim Hunt; I was audited next year. You be Marengo Co./Dempolis, where Martshal Ney sought refuge.
Done did LInda. Jimmy didn't. Hence your thing.
I"d take his $$$ for the poontang in a sec. Doubt there be an equibatble trade.
Mah Jimmy Rogers/Demopolis story. Let's go to !996 or 97, all I remember is that Auburn played Peyton Manning in the SEC Chamionship Game. Cant remember the year. There's a big to do called the NC Society of NY in NYC that weekend. 1st weekend on Dec. Simutaneous. We are there in the Upper East Side.
Yes, Jimmy, you sent my date Linda from Charlotte NC a pictorial history of Women"s Buns. Autographed. She still has it. I think.
So, didn"t like me. No problem. I was a poor boy from Sumter Co. AL (Gainesville AL) Being dat ol' poor boy sitting with Bill Belk at a front table, understand how you felt along with NC Gov. Jim Hunt; I was audited next year. You be Marengo Co./Dempolis, where Martshal Ney sought refuge.
Done did LInda. Jimmy didn't. Hence your thing.
I"d take his $$$ for the poontang in a sec. Doubt there be an equibatble trade.
Mah Jimmy Rogers/Demopolis story. Let's go to !996 or 97, all I remember is that Auburn played Peyton Manning in the SEC Chamionship Game. Cant remember the year. There's a big to do called the NC Society of NY in NYC that weekend. 1st weekend on Dec. Simutaneous. We are there in the Upper East Side.
Yes, Jimmy, you sent my date Linda from Charlotte NC a pictorial history of Women"s Buns. Autographed. She still has it. I think.
So, didn"t like me. No problem. I was a poor boy from Sumter Co. AL (Gainesville AL) Being dat ol' poor boy sitting with Bill Belk at a front table, understand how you felt along with NC Gov. Jim Hunt; I was audited next year. You be Marengo Co./Dempolis, where Martshal Ney sought refuge.
Done did LInda. Jimmy didn't. Hence your thing.
I"d take his $$$ for the poontang in a sec. Doubt there be an equibatble trade.
What the?
o, didn"t like me. No problem. I was a poor boy from Sumter Co. AL (Gainesville AL) Being dat ol' poor boy sitting with Bill Belk at a front table, understand how you felt along with NC Gov. Jim Hunt; I was audited next year. You be Marengo Co./Dempolis, where Martshal Ney sought refuge.
Marshal Michel Ney sought refuge there? Hid didn't make it much past the thought I think... Didn't know that about "marengo co." and Demopolis.
It is common among Napoleonic scholars and period experts to entertain a scenario where Marshal Ney had managed to escape to the United States. Proponents of this theory argue that Ney had Masonic ties, including to the Duke of Wellington, who helped him fake his execution and flee abroad. According to this account, the soldiers in the firing squad put blood packets over his heart and then shot blanks at the Marshal. He was then smuggled to the United States and continued his life as a school teacher.
In January 1816, a man calling himself Peter Stuart Ney arrived in the United States by way of Charleston, South Carolina and disappears from record. In 1821, Ney resurfaces as a school master in Brownsville, South Carolina before relocating to Mocksville, NC. Between 1822 and 1828, Ney would hold semi-permanent teaching positions in several Carolina communities, including Hillsborough, Salisbury and Third Creek. He eventually made his way north into Virginia, spending some time there as the school master of Abbeyville in Mechlenburg County, but Ney would ultimately return to the Mocksville-Third Creek area.[13][14]
Peter Stewart Ney died November 15, 1846 in Mocksville, North Carolina, aged 77-years, reportedly after uttering the final words, "Bessières is dead; the Old Guard is dead; now, please, let me die."[13] On his gravestone in Cleveland, North Carolina, at Third Creek Presbyterian Church on Third Creek Church Road, one will find the words "A native of France and soldier of the French Revolution under Napoleon Bonaparte".
O/T:
I was sitting in class today and the power went out all across campus. It went pitch black in the classroom and everyone sat in silence for a few seconds. I pulled out my phone to use it like a flashlight and thought to myself, "Oh shit, its starting." I got my bag and was the first person out of the classroom. I made it down the hallway while I was checking the price of silver on my phone. The generators fired up and the lights kicked back on. I went to the quad and saw the rest of the school empting out. I immediately headed for the parking lot, while I called my friend to see if there was power where he was, but it was just all a false alarm, obviously. I realized I should probably not spend so much time reading this stuff everyday. It's making me a bit twitchy.
Sorry to vent on here, but I can't discuss collapse with anyone in real life. I get strange looks.
Bobble Heads? Thank God you are cognisant!
Your timescale is wrong.
Think of collapse as a grinding 20 year downhill slide in infrastructure, institutions, personal wealth and liberty. If you're in your twenties it will be hitting bottom round about your mid forties to fifties.
Meh.
Vacuous conversation.
Yep, these posts are pathetic.
IridiumRebel RETARD! < YAA YOU Here is a trade for ya. It's really simple. ( every [vender] that delivers to your delivery store!
Write down "unit" costs. After you do that, ask the "delivery guy" how much it costs to gas up his truck every week!
Then ask him"small talk" about his vacation plans<>
Look at your comment here.
You responded to me about a question that you obviously asked yourself in your head.
Stay off of the drugs. They are affecting you.
Dangerous presidents being announced on CNBC now if that don't beat all hell.
Stream CSNBC global on your laptop. That is digestable news!
AAPL and Chipotle and Green Mountain Coffee all bubble stocks, peaked out and on the way down.
Don't short them, as the FED is printing money, but long term...beware.
"Both Presidents are clueless, only Clint Eastwood has a clue."
Classic.
OK ! Legions of "BullShit" have been established!
Ya ready to lock/load?
YOU again???
+1 leave me alone. I work for a living.
Hey, it's far from all lollipops and roller-coasters for me either!
akak, you are like a "person' that works in "time stamped" doses.
You are "tack" sharp!, I'll leave it at that.
"Fair" enough.
Now get to work man! Those currencies are not going to trade themselves!
Perhaps you should, delve into my earlier posts? I clearly stated that aud/anything would selloff. I'm not sure if you understand the dynamics of (NOK & SGY). Tyler , I need a fucking "MICROSCOPE"
to read ! Ilene must be pissed off!
I've ALWAYS had the impression that Faber is down Phat Phong every night with a big bag of coke and a stack of fifty dollar bills...
I've seen him in Neptunre 2 in Hong Kong http://www.youtube.com/watch?v=pEldNtUHexo
The bag's not that big and they're $5s, but the little boys do love him so.
Every time you hear the word "money" mentally substitute the proper word "debt"
As Rogers is so fond of saying, "you can't fix a debt problem with more debt"..duh
Yet that is the plan
All "money" is "debt"
Be honest...they are not "money" printing they are "debt" creating. They are not injecting "money" into the system, they are injecting "debt"
Banks exist for one reason and one reason only...to get as many as possible in as much debt as possible for as long as possible at as high a cost as possible.
The central planners "plan" is to "save" the banks so that they can create more "debt"
Their solution is to unleash the animal spirits of consumption...consumption via debt
The perpetual growth model fueled by perpetual "money" (substitute debt here) creation ignoring the laws of exponents, interest, compounding and the finite ability of "consumers" to take on "debt" and the planets ability to provide limitless resources without consequence.
Faber and Rogers are geniuses in their simple understanding of cause and effect. Rational thinkers in a world of stupid irrational myopic ignorant men.
Spectacular piece of wisdom. Sad but true.
It's called the Dunning-Kruger effect.
Who is the < M/E fucktard that is going to short risk?
It is ironic to see the colonial meme : "little knowledge is a dangerous thing", being applied to the New Proconsuls of Rome themselves. Nemesis of civilization now eating itself; like in ancient House of Atreus.
How the modern world now chastises and burns what it once held as its Jerusalem on the hill.
Pax Americana does not drive the American dream anymore, like Scipio Africanus of old did for Republican Rome.
Its morphed into dystopia and its become agent of this worldwide financial, hubristic disease of mad Emperors of WS.
THe one eyed leading the blind.
THe cruelest insult to western civilization legacy is propagated by the one eyed kings of DC who now scorn the people for being blind as they revolt against NDAA; having blinded them themselves in a fit of rage; for being critical of their collective Emperors' with no clothes demeanour over forty years; aka false flag mayhem first in Vietnam, invented WMD casus belli then in Irak, followed by war on terror legislation at home and drone destruction in Pak/Afghan, and maybe more MIC trouble in Iran tomorrow. All costly, sterile plays that burden the collective financial bill to unprecedented heights.
The loss of civil liberties of US nation is the price of becoming both political and economic serfs to NWO Oligarchy. Its the 1984 syndrome playing out.
Marc Faber is like Cassandra/Cicero; he sees the developed world crossing a Rubicon, fighting a last battle at Munda or at Actium, then falling into despotism and totalitarian central control.
C- ya all @ 95!
Don't be so hard on Obama and Romney,they are the best two candidates the Rothschild zionists could buy.
On same topic :
Great KeiserReport with Mike Hudson :
[KR349] Keiser Report: Cadavers Collateralized Debt
http://maxkeiser.com/2012/10/04/kr349-keiser-report-cadavers-collaterali...
Dr Hudson's interview brought two superb comments :
1° Reagan/Thatcher financial mantra still operative as in Greenspan days : The Fed prints ZIRP money to PDs who lend money to investors to empty out the assets of existing companies taken over; thus hollowing out the economy by quick asset looting, never by asset investment to creat jobs.
2° Merkel doctrine in Greece is to name an "independent" technocrat from ECB as PRoconsul to run Greece, for loans based on "conditionality"; whereby they can further loot the Greek economy of its remaining assets; do what Geithner has been paid to do in USA since 2009. This can ONLY work with a Proconsul independent of the local political process. Morailty : democracy would be unacceptable as bad for Merkel's Europe!
There you go, Oligarchy first world!
Austerity for you.
https://news.goldcore.com/commentary/gold-adjusting-zero-deutsche-bank
Marc Faber is always entertaining.
Just a side note: 'Blanchard told Hungarian website Portfolio.hu, in an interview conducted on September 18, thatGermany would have to accept higher inflation and a real strengthening of its purchasing power as part of the solution to Europe's problems'
Increase in purchasing power? Only if they go back to the Mark.
Feline escape?
I can still "Going Fars" eye blinking! I need a fucking (jewelers loop) though!
Might as well be interviewing the two guys from the Bartles and James commercials.
Minime, mi amici! I don't buy the "clueless leaders" argument at all. These murderous thieves didn't get to the very top and become stinking uber-rich by being stupid. The banksters on Wall Street and reps in the District of Criminals are crazy alright -- like foxes.
They break every law stealing trillion$ and rarely is anyone even indicted, much less locked up. Those who are prosecuted net billions in their illegal schemes but are fined a fraction of that. The too big to jail banks are "legally" loading up on our money and we are letting them have it all. They are obscenely wealthy and don't work, but we and our children must work non-stop and then give most of the money to the banksters. Now, who's stupid here?
Marc and Jim still miss the point, they are not clueless, they are very smart, they print money and end up owning all assets YOU have worked for, without dropping a bit of sweat. They are evil. This crisis is not over untill this "our rulers are clueless" misconception is gone. They eat your lunch, they are not stupid.