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Marc Faber's 2014 Predictions
Marc Faber has 3 very contrarian predictions for 2014 that we are sure will have the yammering yay-bobs screaming. While "everyone thinks stocks can continue to rise," Faber sees "the US market as expensive," and will return very little over the next few years. Furthermore, he adds, while "some stocks are not terribly expensive; but just like in the year 2000, [social media] stocks are grossly over-valued," and a short basket in the most egregious will return at least 30% next year. Lastly, Faber exclaims, "given all the money printing that is going on globally... physical gold is a good insurance."
Click image for interview (no embed)
In an interview with Talking Numbers' Brian Sullivan, Faber offers what he thinks is next for the world in 2014:
1. The market will decline from current levels
Faber says: "My sense is that at the present time, the US market is relatively expensive compared to foreign markets, especially to European markets and to emerging markets. On a cyclically-adjusted P/E [price-to-earnings] basis, it is actually going to return very little over the next seven to 10 years.
2. Best shorts for 2014: Facebook, Tesla, Twitter, Netflix, and Veeva Systems
Faber says: "If you look at the entire market, some stocks are not terribly expensive and some stocks are very expensive. It's like in year 2000, not every stock was overpriced. At that time, the NASDAQ was grossly overvalued but, say, resource shares and so-called 'old economy' companies were relatively inexpensive or absolutely cheap. In the present instance, I think that stocks like Facebook, Tesla, Twitter, Netflix, [and] Veeva Systems are grossly overvalued and that the basket of shorts in these stocks will return you at least 30% next year."
3. Best longs for 2014: Gold, gold shares, and Vietnamese stocks
Faber says: "Given all the money printing that is going on globally – and not just in the US – and given that the total credit as a percent of the advanced economies is now 30% higher than in 2007 before the crisis hit, I think that gold is a good insurance."
"I'd rather buy something that is reasonably priced. And, I think gold shares are very inexpensive. So a basket of gold shares I think next year could easily appreciate 30%."
"I think the Vietnamese stock market, which this year was up 22% [and] which is not bad for an emerging market, will continue to go up."
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4. F*** Marc Faber.
Are you a sex slave? A young man perhaps? That would help.
If that was a dig directed @ 666, Faber got the short end of it.
Both Faber and Rogers cautioned about gold. It's Eric King from KWN that has been persistently promoting gold and gold stocks every week regardless of micro or macro conditions. Anyone owning any gold stocks in the past three years knows full well what the performance has been.
I am fed up with billionaires, celebrities, or anyone who's well known to the masses predicting whatever. I don't care if they're right or wrong. That's why I gave him a thumbs down.
Making predictions (correctly!) is very difficult. I know, because I have tried and have usually been WRONG. Nonetheless, unless someone is clearly talking their book (typical and common), I admire people for thinking this through and taking their best shot.
I will be thinking over the next few days as well re 2014. I will not make predictions, as (above mentioned) they are no good. But there is PLENTY to think about. I will get started soon...
Best to all finishing 2013 and then into 2014!
I predict, that for the year 2014, people will continue to make wrong predictions !!!
That is all for now, smoke if ya got em...
Faber has had the same commentary since the 1980s. Here's Faber in August 2013 predicting the market will crash before the year is over.
http://www.cnbc.com/id/100950234#_gus
I like Faber.....I really do, but the guy has been just dead wrong. That being said, Faber seems like a great guy to share a pilsner with. The great irony is that doomer mongers like Faber actually strengthen the market. So long as everyone questions whether the market can go higher, it will.
I agree, and will be buying Twitter, Facebook, Netflix, and the rest. S&P up another 20%+ in 2014. As long as everyone thinks it will (or very likely could) go down, it will continue to go higher.
who is everyone exactly...???
I think you are confused,, if you want to continue long ok,,, but some of those are suicide and a few tiny shorts are a good casino bet.
Stock and house prices have been artificially propped up by the Fed. As market forces sink in we will see them correct I suspect. The 10-yr is already over 3% and I see house sales dropping and builders offering many more 'incentives' for their new houses.
Stagnant Wages will remain a Big problem. I don't see any company in my area increasing wages and many are even still cutting benefits.
The flood of cheap pabor will continue to saturate our economy resulting in even greater pressure on wages esp in IT and blue collar areas.
Farber is like a broken clock ....an OLD broken clock at that ....
Via Marc Faber's Blog : http://marcfabernews.com
Owning Some Physical Gold Is A Prudent Insurance Basically we are in an environment where central banks are monetizing debts and where the balance sheets of central banks are increasing, and this will continue, especially in the United States and Europe. We are also in an environment where in the long run, a lot of sovereign debts will either not be paid or will have to be inflated away. So owning some physical gold is a prudent insurance. I am specifying here 'physical gold' because one wants to protect oneself as an investor for the potential of a systemic collapse of the financial system.
Crazy talk! Money printing will save us all just like it has always done throughout history.
As i've said before i'm no financial guy but stop the printing presses period and lets see what happens and increase interest rates to normal levels game over.
Housing, upon which rides 50% of the US economy today, will crash. Unemployment will rocket, Government debt will explode, intrest expense will go through the roof and crash the federal budget.
What could go wrong with that? Rates are not going much higher than they are right now and I think will go much lower as this little blip in rates will be shown to have killed any growth in the economy. The Fed will be forced to step on the printing accelerator again thereby distorting everything and anything from real price discovery.
We live in a mirage created by money printing and money pringint cannot last forever but it can go on for a very long time. So buy some physical for the eventual meltdown. It may come after you are dead but your kids will appreciate the forethought.
I like Faber.....I really do, but the guy has been just dead wrong.
Faber has very good analysis of past happenings.
https://www.youtube.com/watch?v=fWI2OPcabtk
One wonders where he gets his money from in that event.
PunditTracker : http://blog.pundittracker.com/barrons-roundtable-2012-update/?utm_source=rss&utm_medium=rss&utm_campaign=barrons-roundtable-2012-update
Zulauf in the lead at 23.8 CAGR over 2005 to 2011
Faber in 2nd place with 20.2%.
Any other comments about track record? I am very curious to see the stats next month...
Thanks and the same to you. You're a positive and cheerful presence here, best to you and yours.
"Making predictions (correctly!) is very difficult."
Especially about the future. Those are really tough!
The other thumb is in your ass.
And the dick is in your mouth.
Naww....papa don't eat baby food.
Forget stock prices, although I would buy mining stocks now because they're very undervalued. Gold is a finite element in a finite world loaded with paper debt. After 2008 and all the new liquidity that's being created, do you wait to see if the price drops? No. Because the day will come when they run out of physical to give to china and the real price will be set by the market.
I have kept a balanced and small miner potfolio for the last six years. I have come to expect the bright red blood gushing from my anus as normal.
They say there's a finete amount of water and unlike gold, it's essential to life. Can I sell you a lake at bargain basement prices?
Before you sell me on your ideas, Why don't you start by buying yourself a good water filter.
so you are investing in water how ?
Harbanger is right I think. I added so me FCX myslef this week. It's too low right now. There are other strong miners but that is my favorite.
Listen up and listen good, Pilgrims.
If the SEC's budget gets expanded significantly, another great long will be midget tranny porn.
Hi, I'm from the government and here to stick my arm up to my elbow and....
Wait....isnt the S&P at 1840 or around that level? Sooooo why is he saying 1814? Am I missing something?
It's the Swiss-German accent.
When the Fed keeps pushing up stock prices how can you be bearish. One day it will be beyond their control.
Anyone owning any gold stocks in the past three years knows full well what the performance has been.
The FIAT dollar is a 4 headed hydra, read FEKETE, anything threatening it will be faught hard. In the end the fighting becomes so fierce the 4 heads begin lashing out in any and every direction. It is at that time the 4 necks will knot together and aphyxiation or self destruction wil occur.
Gold is the only hold right now for the long term. Sit back and watch the fight. The gold stocks will probably be nationalized at some point. If they are giong into Africa with drones to get gold, you can bet they will take the gold miners at home.
Mscreant is just mad because she wants a threesome with Faber and Rogers
Wow,didn't know that so many zerohedgers had an emotional attachment to Fabers penis,I guess they drank his juice. He will be right some day and until then he's wrong.
His first prediction is already wrong.
"I think the Vietnamese stock market, which this year was up 22% [and] which is not bad for an emerging market, will continue to go up."
Yeah right, and you'll get your whopping 22% 'return' in Vietnamese DONG (no joke!). Last time I was in Vietnam (about 6 months ago) I changed €50 and, if I remember correctly, I got something like 1,5 million Dong for it in return.
What's next? Faber recommending Zimbabwe stocks?
I like Faber's Gold call though, but I'm already curious how he will wiggle away from underneath that one if Gold tanks once the stock market tanks. Whether real or manipulated, Gold IMHO WILL be dragged down by stocks if a big sell off happens, like in 2008.
Meh, what's a little Dong between friends?
Oh, you gotta wittle a dong!
Marc gets gold right. This should be interesting.
Let's hope so. It'd be nice to see AU go back into the green trendline.
I think he called the shorts right as well. Not that it means they can't defy gravity, but my intuition tells me 2014 is the year some of the short guys will make money.
But, it's OK with me if Au stays,down a little bit longer... Just a wee bit more time to buy some more. But, I will keep buying as gold goes up, up and away irregardless! Fishez!
They bash gold, OK, I'll buy. Gold goes up, I'll buy. Higher prices means fewer ounces. But, a higher price is OK too. You know, for the Central Bank of DoChenRollingBearing and all...
:)
Here's to $400/oz. We all know the circus cannot continue forever. It would be better if we can get more insurance before the fall.
So he was right ? Did he say it was because the price of gold is manipulated or some other bull shit ?
My recollection of Faber's call on gold lately has been that one should not value it; it's insurance that's stashed away.
And in this I agree with him.
If he did, it would be the first time. He even admitted on CNBC that he should have called top before the drop from 1900 to where we are today.
I ask anyone to predict anything other than collapse because in a manipulated world, unless you're the manipulator - the only thing you can do is guess. I would hate to be one of the guys who empted their 401K's into yellow at 1900 only to find todays manipulated or otherwise buy it now figure of 1200
say one thing do the opposite; machiavelli was the mark of a Fable fibber of fame.
Marc got out of gold, said he would, and then it dropped like a brick. I am inclined to pay attention to his gold calls.
All that shimmers is not gold. Its the wet dream of a young man; to make a Miscreant into a believer to the point of becoming a helpless sex slave.
Faber would short that but I'll go Long John Silver on it; its gets my sliver churning and my motor moaning.
Shed your hold on a bar of gold before it gets a hold on you like that python in Bali.
If the markets spike in 2014 then gold takes a nose dive.
So ...place your bets.
"Its the wet dream of a young man; to make a Miscreant into a believer to the point of becoming a helpless sex slave."
That's some imagination. Would you feel the same way if you thought she looked like Pelosi.
http://thevinylvillage.files.wordpress.com/2008/06/pelosi.jpg
I just had to look, and what a wretched sight it is.
WTF, do you clowns think if you give her up arrows that she's going to give you blow jobs ?
Well...the down arrows weren't working...
Lol, I'm glad I added a bit of spice to the crystal ball gazing crowd !
she can't tell us what she will do until we give her the votes.
Can't remember him saying he got out of it. I know he thought it could go down a bit when it was still 1500-1600, but never recommended selling physical that you already owned in anything I ever read. Not sure if he has an advisory service though.
Ditto. NONE of the Rich & Famous gold promoters -- not a single MFing one of them -- had predicted gold to go from 1800 down to 1200.
It wasn't till it was in the 1500 range, that they suggested that it'd be a good buy at 1200-1300, because of the mining costs. All "motherhood + apple pie" stuff you can figure out yourself.
Even now you get a whole army of newsletter and stock-picking guys making juicy predictions about this company or that, this stock or that. If they were REALLY that good and had a decent batting average, then THEIR name would be up there with Warren Buffet. As it is, I'm tired of these News-Peddlers and their Pump & Dump games.
'Pump' this, snakeoil salesmen! [gestures putting a shotgun into their mouth]
With ya in snake oil guys. But he doesn't really fit the bill. He acknowledges his losses more than most. Not a pumper in my book. Just says what he thinks.
Stare at my penis,you are now getting dizzy.
I'm beginning to think your login name is less a complaint about your working hours than a description of your profession.
No dickhead,I work in high tech mfg 3/4 12 hour nightshifts with a 45 minute commute on each end. I would love to to take you to work with me so I could correctly train and then watch you kill yourself doing something stupid.
Why is there always at least one fuckwit poluting threads on ZH?
Hmmmm....not exactly an 1813 high on the S/P
Be the ball, Billy.
http://www.youtube.com/watch?v=mi3WxjnjJ80
Faber is a snake oil salesman
1. 15% increase thru 9/14
2. another 10% Facebook, Tesla, NetFlix before shorting
3. wait to Q3 '14 / Thai situation resolves before buying Vietnam, Au/Ag unless u cost average thruout
4. Guns/ammo/seeds ASAP.
Just bought 150 rounds of 9mm and $20 more of "junk silver" today...
A retailer in my area has UltraMax .223 250 round boxes on sale for $19.00. Pikced up my limit of two.
250 rounds of .223 for $19.00? Surely you jest.
Must be $190.00,I just bought 400 rounds of .556 green tips for $160.00.
Best I've seen is the Prvi Partizan .223 for $0.33/round.
PSA has 150 rounds of Lake City green tips for $60
http://gunbot.net/
"Go long the Vietcong" he says. http://www.youtube.com/watch?v=ixljWVyPby0 "you're the only chance we've got." yeah. "now make it a soft landing Wall Street." and that's an order! http://www.youtube.com/watch?v=vkdH0nuDWX4
your fat fingers must have missed entering one more zero!!!! wtf? that price is too good to be true..
For killing werewolves?
I think Marc is on the mark.
That's cornier than ethanol.
Veeva systems ? really. Isn't everything better in the Cloud?
What are the rich elite's doing?
Buying. Anything. At ANY price.
A painting for $143 million, a pink diamond for $83 million, even cars. A 1970 Dodge Challenger in mint condition at Barrett's for $1.3 million! What do they know that the unwashed masses don't know?
Paper is worthless. ANY paper assets, but mostly paper fiat currency. Hyperinflation anyone?
Hey nao! Don't know you know that American exceptionalisim will step in and all money printing to go on ad infinium?
All these bubbles surely look like the beginning of hyperinflation.
Re: What do they know that the unwashed masses don't know?
What if they just like bling? Just like the unwashed masses, but just more expensive bling.
What if life is just about bling, and nothing but bling?
If it is just about bling, they don't know any more than the unwashed masses: except that they knwo they've got better bling.
Zen on bling: If you buy bling but nobody notices (or cares) it is it really bling?
Corollary: If everyone buys the same bling that you buy, is the bling really bling or just mass produced useless garbage with an inflated pricetag which will lose its value when everyone decides that its not bling any longer?
Do you not hear the grasshopper at your feet?
OutLookingIn
FOFOA has a great article on just that subject (the very rich buying one-of-a-kind products). One thing he discusses is that the very rare and very high quality stuff often can get a very high price when the time comes to sell.
One problem (of course) is recognizing very high quality to begin with (as FOFOA discusses).
Highly recommended article!
http://fofoa.blogspot.com/
Balloon dogs and rare wine!
With all the talk of "predictions", this looks to be fofoa's year.
I've got a '99 F150 for sale for...One....hundred thousand! trust me! it's a steal in these inflationary times!
0.065
The party is over early this year.
I think they'll just add another decimal point column to the display field and everything will be fine.
It actually goes exponential really fast. One decimal point just won't cut it. Try 10 before collapse.
My BOLD 2014 Predictions, & I dare anyone to refute any of it.
More Torture
More Rendition
More Illegal wars of aggression
More Criminal arming, funding & training via the Criminal State Dept / CIA via Turkey, NATO & Saudi Ariabia terror Al CIA duh organizations.
More NSA- Illegal Global espionage, data mining & Sping.
More Militarized Authoritarian Fascist Totalitarian Police State
More unemployment.
More loss wages.
More NDAA
More criminal Presidental Executive orders
More crimes from DHS, DOJ, BATF, CIA, FBI, IRS, Federal Reseve, CONgress.
More wealth transfer.
More fake economic numbers.
More Monsanto
More criminal Supreme Court decisions.
More economic Bankster terrorism
More Criminal CIA drug running money laundering through the TBTFBankster tax payer bailed out Criminals.
More of the same Criminal Federal Government .
You forgot Israel as the headline for all your points, especially the terror axis point, while Turkey and the Saudis are there, Israel mysteriously was absent, when in fact it should have been the first one on the list.
My slip up. Those were the ones that just came to mind off a quick rant & as fast as I can type.
I should have included the Criminal Zionist's. The Zionist's not the innocent Jewish population there is a difference.
You forgot moar dronings. So Mr President you just killed 15 innocent people....still not enough to make you rethink the droning campaign?
The Pure Internal Evil of Holder, Jarret, Brenan & Sertero with the Pentagram / Ultra Evil CIA is an abomination. They as well as The Global Criminal Oligarch Cabal Bankster Intelligence Crime Syndicate will be held accountable.
You also forgot;
More ignoring of building 7 and 9/11 by the media
More spewing of radiation from Fukushima
More killing of witnesses/whistleblowers
Less and less dissemination of anything resembling the truth
Owning guns, gold and seeds (which I own, btw) is like clinging to a life preserver as a tsunami approaches. If you've ever been in a fire fight or a war zone (which I have) you know in your gut that when the chaos comes, nothing you do can really protect you. It's just blind luck and fate...
..and WTC 6
http://www.youtube.com/watch?v=a4FkO5ry1uo&feature=youtu.be
Maintaining the beacon of darkness is hard work
Oh come now, you're just stating the obvious.
Gold gets creamed at the close again. For all the manipulation talk, you'd think someone would be able to prove it.
There is more than enough evidence to prove it. Evidence isn't the problem -- getting prosecutions is the problem.
nope, getting convictions is the prblem.
Bend over bitch and grab your ankles,I'll prove it to you.
Marc called 1500 a top on the S&P
I also remember his "that, we will not go above" ( referring to 1347 on S&P )
I agree that Marc missed those calls, although in deference to him, this was before it became apparent that every aspect of the markets are being manipulated by the central bankers. There is no way in hell this bitch keeps going higher without the free lunch being offered by the central bankers.
Rather tame predictions. No one will want to read anything else from him lol.
Stocks go up until the there's a reason to panic. There's no correction now.
So, play red or black and you'll win, until green hits.
Speaking of panic, from one of the sources in David Collum's 2013 Year in Review linked on Peakprosperity.com, here's the S&P 500 Futures Pit at the CME describing and showing the 2010 Flash Crash.
It's entertaining how excited this guy gets as the market continues to get crushed as he can see it coming before it shows up on the trading screen.
Must watch 3 mins:
http://www.youtube.com/watch?feature=player_embedded&v=E1xqSZy9_4I
And many thanks to David Collum for providing!
The house of cards doesn't necessarily collapse when the central planners say it does. So the probability of shit (really) hitting the fan at anytime since 2007 means physical gold was a good investment every year since then, and still is in 2014.
OMG,not a word about Silver or Platium.
Faber's line on silver is always the same... It's a s good as gold, probably does better overall but always faces downside pressure because of its industrial properties; he prefers gold because less cumbersome to deal with in terms of storage, transportation, conversion etc. Keep in mind Faber doesnt buy ounces, he's talking kilos-tons. In short, he doesn't mind silver, he just prefers gold.
OK, here goes;
Platinum (A.K.A> Johnnie Walker Platinum) will remain expensive. (I recommend the duty free shops if you get the opportunity.) However, it will be not nearly as expensive as Johnnie Walker Blue Label, of which I continue to deny myself becuase no man should have to fork over 200 bucks for a bottle of scotch, no matter how smooth it is... sigh.
edit... and not a drop of scotch in me:(
Back to killin' snakes
Mongoose - Nice post. I was laughing at the end because I read your statement as "BACK TO THE KILLER SHAKES." I thought you were saying you had the DTs from not having enough Scotch. I was going to remind you that J.W. does have a 'Red' for the po folks like me. Further, you can even just buy some good old American Whisky.
I hope you are OK and killin' snakes, not shaking like a dog shitting razorblades.
Thanks for the well wishes, dvfco. I've never had the DT's and don't plan on it either. It usually takes me months to empty a bottle of scotch. I don't always drink scotch, but when I do, I like the good stuff. If anyone ever offers you some Blue Label, take it and enjoy.
Safe & Happy New Year to ya,
Back to killin' snakes...
@mongoose.
I stash $300+ / 30 year old whiskey any chance I get as a hobby. My wine stashing is way more important..
Eg. my last bottle. I paid 1500 pesos for a 30 year valentine in august. It is worth 3100 now. Yes the peso lost 30% to the dollar, but the math is still on my side.
I never owned a bottle of scotch that went down in price.
Interesting hobby, samcontrol. I'm afraid I'd be torn between selling to capture gains (cash transaction? Or bullion?) and drinking it on special occasions and then kicking myself later on for forgoing the gains.
Or, would it be a deductable loss? "I swear Mr Auditor, it was a huge party and some drunken SOB broke three bottles and tried to lap it up off the floor..." hmmm
I'd be interested in knowing some of your whiskey picks.
Back to killin snakes
FED stole his crystal ball.
Republicans take the Senate. You heard it here first.
you're right and it means absolutely nothing
Fo' sho'.
If it means isolating Barry in the oval office for the last 2 years of his administration, then it's worth it.
I'm bored and I have some time, so here are my predictions for 2014.
1. The DOW does not close above 17,000.
2. The DOW closes below 12,000.
3. Gold does not close below $1,100.
4. Gold closes above $1,800.
5. The dollar is devalued on 4/20/2014.
6. The stock market crashes on 4/21/2014.
7. The US 10 Yr bond rate reaches 4.2%.
8. The US 30 Yr bond rate reaches 5.7%.
9. The US unemployment rate reaches 8% (official).
10. Marshall law is declared somewhere in the US.
11. By the end of 2014, many will question if the American Era is over.
12. Time Person of the Year: The US Flag in tatters.
13. Housing prices will drop 8% (national average).
14. The HUI gold miners index will rise 100%.
15. Holiday retail sales will drop 4% during the 2014 xmas season.
16. The US budget deficit will return to $1 trillion.
17. The bankruptcies and bailouts of 2008 will return.
18. Obama's popularity rating will plunge to 32%.
19. Global economic growth will drop below 2%.
20. The cost of Superbowl commericials will drop for the first time (Jan 2015)
Fuck me! Time to spring for the Glenfiddich 25, I guess.
I think housing will drop over ten percent & retail sales for Christmas will drop over ten percent too.
Newager23
I mentioned above that I admire people who will make predictions (unless they are talking their book, which DOES happen all the time), as my prediction record (esp. short-term) has always been bad.
Let's see if you're right!
"Making predictions is hard to do, especially about the future."
-Yogi Berra
"Making predictions is hard to do, especially about the future." -Yogi Berra
That's because the future ain't what it used to be.
+19) anyway
most people don't realize that as the deficit drops things get worse economically
obama is already there
the professional op on interest rates is 3 something on the 10Y but any sort of move should overshoot. buy that rate i think
the time person of the year will be the tea party, since boehner broke ranks they gain voters.
martial law in PORTLAND. (they have a sizable white supremacist movement), but thats just a guess. its for sure blacks wont riot.
A good list. More conservative than what mine would be.
The ObamaTax hits in 2014 which is going to bring forth major problems for the economy and jobs. People will literally be without food.
Look for business closures to accelerate greatly. Tax revenues will plummet which will lead to the bond market going nuts as interest rates go up.
This will drive the US debt up markedly and possibly result in the dollar losing its reserve status. If the dolar is no longer the reserve currency, 2014 wil make 1929 look like a picnic.
Just back from a nice lunch in La Jolla, California with Larry Speidell, who runs a hedge fund which invests in Frontier markets, which he defines as markets insufficiently developed to qualify as emerging.
Larry visited Vietnam earlier this month and says:
" We are optimistic about the frontier in Southeast Asia. Their political problems will continue to be a drag, but on the streets the quality of life is improving. People are starting to have to learn lessons about budgeting their spending on small luxuries rather than living hand-to mouth. The middle class is rising!"
rode that Vietnam Fund train a long time ago, it never left the station, and probably never will. these Asians are not like the Chinese (which they fought in a war) those with money and education emigrated to america. i understand its a good place to live (anthony bordain said if he had one place other than NY to live it would be Vietnam, and he has a young daughter) and being a good place to live, it is probably a lousy place to invest or do business if you catch my drift
A restaurant high on Prospect Ave, I hope ;o)
Whisk N Ladle 7556 Fay. Nice place, not fancy, two blocks from his office.
Larry is more interested in effective use of time and good conversation than in impressing clients wth unnecessary largesse.
I can't post a link to his full letter, which discusses developments in local education and Gini Coefficients, due to Zerohedge poster restrictions, which I think are intelligent and reasonable.
Try the fondue. It's Velveeta and Brie!
gold is the new iphone, you wear it, you hold it up your ear, you tap your fingers on it. you ask it for directions, it says trust in me
"In 2008 we had a financial crisis. The next train station stop is when governments go bust and I believe in the western world they all go bust! But before they do they will print money, then we go to war and all of us will be doomed!"~ Marc Faber, May 2009, New York.
Is this not predictable...was Faber going to say long S&P, short gold? come on man !
I think Faber drives a Fiat. Really ugly wife. Get out of here Euro-trash!
He lives in Thailand, drives a motorcycle and his wife is a thai hottie. 0 for 3 in less than 20 words. Nice.
Matt- Marc is right in the LONG run. This market is just a post finance crisis knee jerk. The REAL shit will hit the fan in about 2-4 years.
Maybe
2 - 4 months.... recovers in 2 to 4 years. Many bodies in street.
Recovery in 2 to 4 years?
Optimistic. Europe and The US still haven't recovered from 09 four years on (and on paper more fucked now than then), and when the SHTF this time it will be way way worse. Count on it.
Wait, don't tell me... More Gloom Doom and Boom.
Or does that apply just for "his tax-haven-of-residency" and home of "hot+cold running sex slaves": Thailand?
p.s. Trivia... did you know that when the former F1 Champ Niki Lauda retired (after accident and bad burn), that he started Lauda Air? Well, this enterprising Austrian was all pumped up no having charter flights from Vienna to Bang Kok, full of fat, horny, and affluent guys, looking to get their oil changed and engine overhauled in the new Sex Tourist trade with Thailand. In case that sort of thing interests you.
you're just jealous.
Whenever I hear or read that an American or Brit lives in Thailand, one of the first thoughts to occur is, "Is this guy there for the obvious reasons?" Why else does an English speaking person decide out of 200 countries in the world to move to Thailand?
Not good. Not good.
Ahhhh, I am a US expat living in Thailand, so let me educate you.
Some of the many reasons we live here in south Thailand:
- it is possible to buy a decent (middle class) house for $50k US (our place is paid off... Imagine not paying a mortgage anymore. BTW, the banks pay interest here on savings!)
- low property tax bill $2 / year
- good food
- nice culture and people
- government extract taxes from import and luxury taxes and corporations vs. The "little guy," though they pay also
- few traffic fines are given (my daughter just got one - fine 400 ThB/~$13US. I looked this up online and the same ticket in New York State would have been $330-900)
- reasonable phone ($4/mo) and electrical ($50/mo) bills
- modern and good medical system delivered for a reasonable cost
- no ambulance chasing attorneys (if you sue someone and lose, you pay the legal costs for both parties - sure curbs the frivolous lawsuits)
- decent, though hot, weather (kinda like Hawaii but without the high
prices)
This place is not perfect. There are political and environmental issues, we don't have Home Depot, cheap cars or gasoline, but it is a decent system if you are a good citizen.
Thailand does have a reputation of having a large sex industry, which is probably deserved. However, there are many more industries here that are MUCH larger, i.e. Ag, auto, gas and oil, travel & tourism, clothing, etc.
I would rather be here as a guest, than be in the USA as a debt slave.
Come and check it out.... Who knows? Ya might like it!
Sounds like a safe place...not.