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Marc Faber: "Paul Krugman Should Go And Live In North Korea"

Tyler Durden's picture


If there is one thing better than Marc Faber providing a free, must-watch (and listen) 50 minute lecture on virtually everything that has transpired in the end days of modern capitalism, starting with who caused it, adjustable rate mortgages, leverage, why did the Fed let Lehman fail, why was AIG bailed out, quantitative easing, Operation Twist, where the interest on the debt is going, which bubbles he is most concerned about, a discussion of gold and silver, and culminating with his views on a world reserve currency, is him saying the following: "The views of the Keynesians like Mr. Krugman is that the fiscal deficits are far too small. One of the problems of the crisis is that it was caused by government intervention with fiscal and monetary measures. Now they tells us we didn't intervene enough. If they really believe that they should go and live in North Korea where you have a communist system. There the government intervenes into every aspect of the economy. And look at the economic performance of North Korea." Priceless.

50 minutes of Faberian bliss:

Courtesy of TheBubbleFilm


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Fri, 12/14/2012 - 08:28 | 3062157 Lebensphilosoph
Lebensphilosoph's picture

Oi vey. Did someone downvote me for treading upon his beloved Marx?

Fri, 12/14/2012 - 10:14 | 3062409 GMadScientist
GMadScientist's picture

Nah, just for having a "foreign sounding" name and an unwillingness to rat on your friends.

Fri, 12/14/2012 - 10:32 | 3062475 shovelhead
shovelhead's picture


Liszt didn't like you talking trash on his family.

Fri, 12/14/2012 - 10:32 | 3062472 Calmyourself
Calmyourself's picture

Some research will show you that McCarthy, personality aside was mostly right.

Fri, 12/14/2012 - 11:16 | 3062615 GMadScientist
GMadScientist's picture

The existence of one witch in Salem would not have justified multiple burned innocent corpses.

You can be "right" about something and still go about things in the worst way possible for the country.

Fri, 12/14/2012 - 05:15 | 3062063 cxp
cxp's picture

The Latest orderbook for EURUSD updated


The demand zone is where the big order wait while the offer is where the big sell orders stand. This is retail first orderbook for forex. 

Fri, 12/14/2012 - 06:10 | 3062080 silverdragon
silverdragon's picture

Krugman should be charged with treason and hung in a public place.

Fri, 12/14/2012 - 06:13 | 3062081 liszt
liszt's picture

North Korea is an evil State, because they have no food stamps. And sure because of the many people on stamps in the US, we will soon have hyper inflation. Also so many houses are seized by th banks, but in the US we have freedom.

1) There won't be any recovery or what so ever in modern economies. The system will shift eventually toward a fake-capitalism without any markets, without any thing like real "value", thus will be more like a state economy, or a mafia ruled economy. Even if Ron Paul is elected president or the Tea party, no one on earth can go on with capitalism. You should face it because changes are comming soon !

Fri, 12/14/2012 - 07:17 | 3062108 Lebensphilosoph
Lebensphilosoph's picture

Yes, the final victory of the proletariat! /sarcasm

Fri, 12/14/2012 - 08:59 | 3062198 liszt
liszt's picture

Capitalism will fall without me having to rise the little finger, and despite all want it to continue. I don't need even to argue without you.

Fri, 12/14/2012 - 12:55 | 3062987 Monedas
Monedas's picture

Are you a student at the Ludwig von Marxes Institut ?

Fri, 12/14/2012 - 07:46 | 3062129 yrbmegr
yrbmegr's picture

The sky is falling, too.

Fri, 12/14/2012 - 09:01 | 3062202 liszt
liszt's picture


Fri, 12/14/2012 - 10:10 | 3062393 GMadScientist
GMadScientist's picture

They have no foodstamps because, like most communists, they eliminated the one group of people that can actually point them in the direction of the Great Leap Forward in favor of the most loyal, ignorant masses.

One should not overlook the anti-intellectual aspects of both the Taliban and the Tea Party.


Fri, 12/14/2012 - 06:26 | 3062083 j8h9
j8h9's picture

Faber is an angry old man, awash in cash

Fri, 12/14/2012 - 06:34 | 3062088 4exNinja
4exNinja's picture

Any theory taken to extremes is matter in which direction you go. I agree with a lot of his comments, but claiming the alternative is communism is laughable. It's Glenn Beck laughable where he presents a theory and then pretends the outcome will be the extremest version of that theory. 

Some intellectual honesty would be nice for a change, even if he's correct with a lot of his comments. 

Fri, 12/14/2012 - 07:25 | 3062112 Lebensphilosoph
Lebensphilosoph's picture

What the powers that be present, 'the alternative', is just that, so there is nothing laughable about it. Try again.

Fri, 12/14/2012 - 06:50 | 3062095 Monk
Monk's picture

Why North Korea? Why not China, Singapore, or other Asian economies with partly centralized economies?


Fri, 12/14/2012 - 07:46 | 3062131 yrbmegr
yrbmegr's picture

How about Japan?  Pretty similar to China.

Fri, 12/14/2012 - 07:07 | 3062099 DollarDive
DollarDive's picture

I've got Faber on in the background and a thought just came to me... How many times can I listen to this ... really ? It's the same story over and over and over.  The banks screwed up - the Fed had no way out - so they've loaded their balance sheet, hoping that they can unwind it.  It's as simple as that.  We're all waiting for the big unwind.  Don't torture yourself for 50minutes listening to this guy pontificate.  We'll all be well aware when the FED starts dumping treasuries.  It's not going to happen for 5 or six years.  Until then, your best option is to play the game like everyone else, but with a tight stop.

Fri, 12/14/2012 - 07:17 | 3062106 lakecity55
lakecity55's picture

Do not worry, Comrades.

Soon, Communism comes to you.

Forward, Soviet!

Fri, 12/14/2012 - 07:36 | 3062119 yrbmegr
yrbmegr's picture

Marc Faber should go and live in the United States.

Fri, 12/14/2012 - 08:29 | 3062162 Lebensphilosoph
Lebensphilosoph's picture

... you mean Marc Faber should go live in a socialist state?

Fri, 12/14/2012 - 08:40 | 3062168 Ghordius
Ghordius's picture

LOL - I usually presume that you live in the UK, which many commenters here see as more socialist than the US, thanks to the National Health Service

Fri, 12/14/2012 - 10:57 | 3062555 shovelhead
shovelhead's picture


The US wins. You get bad free healthcare.

We get expensive, soon to be bad healthcare.

And free Obama phones.

Can't touch this.


Fri, 12/14/2012 - 09:56 | 3062341 GMadScientist
GMadScientist's picture

Marc Faber should go live in Somalia.

Fri, 12/14/2012 - 12:37 | 3062918 Monedas
Monedas's picture

Living conditions in Somalia, although far from ideal, are better than North Korea .... especially if your an opportunistic Jewish socialist like Paul Krugman !  It's not as cold .... either !

Fri, 12/14/2012 - 10:03 | 3062348 liszt
liszt's picture

50 minutes to tell that the crisis was due to Gov intervention ! LOSS OF TIME !

The crisis is NOT due to that, and if one wants to live a little longer on should rather stop telling BS about the crisis ! I'm really SICK to listen all that !

The crisis is not from yesterday, it started in the late sixties ! It's due to a shifting in loans/profit wealth distribution. Since Marx believed falsely that profits needs allways to be reinvested, he omittet to underline the big problem that is the weakness of Aggregat Demand, and this will ever be the Achilles' heel of capitalism.

The only problem and therefor keynesians are right, is the weakness of demand, as Malthus pointed it out. But Keynesians fail to get to some solutions. The solution is in fact to cancel debts sometimes, or to maintain the system under QE perfusion. So it will drift more and more toward a zombie economy. Imho, there isn't a solution inside capitalism, and the system is doomed. The soup lines will increase until nightmare !

But here, NO ONE ever reads Malthus, Marx and Keynes ! No, only listen to Ron Paul, so how do you expect having ANY idea of economics issues ? You never read any classic economist ! And most of you have just enought brain to post single liners ! Really ! Wake Up ! Are you interested in economics, so read at least Galbraith's book about The Big Crash, then we can talk later. I'm really amazed people dare to have an opinion and arg with me, while there knowledge is equal to Zero !!

Fri, 12/14/2012 - 10:07 | 3062379 caimen garou
caimen garou's picture

If your so tierd of hearing it why don't you get the hell out of here, and paul k should not go to korea he should be place on a island counting sand pebbles! oh and to have an argument with you IS A WASTE OF MY TIME! I rather watch the grass grow!

Fri, 12/14/2012 - 10:49 | 3062531 shovelhead
shovelhead's picture


Don't be so hard on the guy. Look at the entertainment value he provides.

A 'Genius' who writes at a third grade level is hard to find.

According to Malthus, we've already been dead for a very long time.

Fri, 12/14/2012 - 11:27 | 3062659 Element
Element's picture

You could just fuck-off and read something else, we don't want stoopid to bring you down. the world needs you far more than it needs anyone else. So go, be free, soar to the zeneth of knowledge, then crash back with the discovery that your knowledge is you, and all that you are, and that it's just a house of cards.

Then you can come back and be stoopid with us again, we won't hate on you.



Fri, 12/14/2012 - 10:21 | 3062432 GrinandBearit
GrinandBearit's picture

Love Marc, but he says "basically" too much.   

I've also noticed that Filipino people say "basically" a LOT.

Fri, 12/14/2012 - 10:51 | 3062539 SilverMoneyBags
SilverMoneyBags's picture

Krugman is just part of the DNC propaganda machine. To label this as anything else, would also just be propaganda.

Fri, 12/14/2012 - 11:05 | 3062576 ian807
ian807's picture

Or he could live in China. Or Germany. Oops! Reality trumps ideology again. At least is does if you're not terminally myopic.

Fri, 12/14/2012 - 11:21 | 3062640 SilverMoneyBags
SilverMoneyBags's picture

China is State Capitalist, not Communist.

Fri, 12/14/2012 - 12:41 | 3062930 Monedas
Monedas's picture

There is no Capitalism .... just different shades of gray Socialism !

Fri, 12/14/2012 - 11:49 | 3062757 Mi Naem
Mi Naem's picture

I've just learned of here, and I'm glad to see it. 

A lot of educable folks are just misinformed by MSM sources. 

Smart guys like these with good info and insight providing historical lessons and informed projections for the future is what this country (indeed, the world) needs.

Fri, 12/14/2012 - 12:50 | 3062940 Monedas
Monedas's picture

"Way to go Marc .... and thanks for reading my posts !" .... Monedas   1929     Comedy Jihad Spontaneous Full Dress Pyongyang Missle Launch Pep Rally  World Tour   

Fri, 12/14/2012 - 12:48 | 3062956 Monedas
Monedas's picture

"The quickest way to a Korean man's heart .... is going around his shrunken stomach !" .... Monedas    1929    Comedy Jihad Marxist Primer World Tour   

Fri, 12/14/2012 - 21:59 | 3065413 blindman
blindman's picture

save this for the vault.

Fri, 12/14/2012 - 22:05 | 3065428 blindman
blindman's picture

all systems fail by design, that is life.
what does not fail? think about it

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