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Marc Faber: Stocks Could Crash 30% Because "Obama's A Very Poor President"

Tyler Durden's picture




 

"There is a colossal bubble in all asset prices and eventually it will burst," is the subtle recurring message from The Gloom, Boom, & Doom Report's Marc Faber, warnings that "maybe has begun to burst already." While Faber admits he has called for such a correction previously, he notes that the difference now is that "valuations are so much higher; and contrary to what the mainstream economists believe, I don't believe the global economy is strengthening; in fact I believe it is weakening." Furthermore, while "you never know what will trigger for a bull market or bear market is until after the fact," Faber offers 3 factors (aside from the Fed) that could trigger a 30% crash or more... beginning with "a) In The White House we have a very poor President - which will lead to political issues domestically in the US," which are not priced in.

 

 

Annotated Transcript:

"There is a colossal bubble in all asset prices and eventually it will burst.. and maybe has begun to burst already"

 

"We are not going to have a 'correction'; but we are going to have a bear market"

 

"You never know what will trigger a bull market or what will trigger a bear market - you only know it after the fact"

 

"When markets peak out, nobody can believe that it could go down and we have an environment where everybody puts their faith in central banks printing money - and therefore asset prices cannot go down"

 

"I look for 30% - if you can't buy something with the expectation that it could drop 30% then don't even get out of your bed in the morning because we have within markets now a lot of volatility" - no matter how obscured it is by the VIX.

 

While Faber admits he has called for such a correction previously, he notes that the difference now is that "valuations are so much higher; and contrary to what the mainstream economists believe, I don't believe the global economy is strengthening; in fact I believe it is weakening."

 

Analysts are all bullish for the next quarter's earnings but as Faber says "I have never met an analysts who predicted a downturn in earnings"

 

The fact is simply, he notes "earnings have been boosted by stock buybacks not by revenue growth and earnings are grossly inflated due to artificially low interest rates... don't rely on analysts expectations as of today."

 

Faber thinks there are other factors that could drive prices down aside from a Fed that raises rates sooner rather than later (which he doesn't expect)

 

a) In The White House we have a very poor President - which will lead to political issues domestically in the US (which are not priced in);

 

b) we have numerous geopolitical issues to consider (that are not priced in); and

 

c) We could have potentially a much higher oil price (which is not priced in)

*  *  *

The rest of the clip offer sup a Gartman vs Schiff debate over the merits of gold... worth the price of admission (and a desparate attempt by Gartman to explain how he was so wrong about Corn)

 

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Tue, 07/08/2014 - 21:32 | 4937956 fonzannoon
fonzannoon's picture

Time to hang em up Marc.

Tue, 07/08/2014 - 21:34 | 4937964 RevRex
RevRex's picture

Breathing through an aqualung

Four concrete walls No place to run

Lightbulbs cant replace the sun

When will it end?

Tue, 07/08/2014 - 21:37 | 4937977 Manthong
Tue, 07/08/2014 - 21:58 | 4938079 NoDebt
NoDebt's picture

Wolf!  Wolf!  Everybody come running, I saw a wolf!

And then, one day, after being long-discredited for opening his yap too damned often.....

Tue, 07/08/2014 - 21:59 | 4938085 Pinto Currency
Pinto Currency's picture

 

 

Obama is an utter mess however rates are going to rise due to consumer goods price inflation.

After the initial panic into cash, there will be a run into real assets and then we'll really see the effects of trillions of central bank money printing in the past and the present.

Tue, 07/08/2014 - 22:02 | 4938100 NoDebt
NoDebt's picture

Stop it.  I'm getting all misty.

Tue, 07/08/2014 - 23:34 | 4938356 wee-weed up
wee-weed up's picture

 

 

"Obama's A Very Poor President"

-------------------------------------

Dat's raciss!

Good thing you're not an American, Marc Faber...

Or Obozo would sic his IRS on your ass in a heartbeat!

Instead, you need to keep an eye out for drones...

Wed, 07/09/2014 - 00:55 | 4938461 Pinto Currency
Pinto Currency's picture

 

 

What stops the c.b.'s from buying another $29 trillion of assets with money from nothing?

http://www.zerohedge.com/news/2014-06-15/cluster-central-banks-have-secretly-invested-29-trillion-market

Look at them yoyo's

That's the way you do it

Print some money in an SPV

That ain't workin, that's the way you do it

Money from nothin at your favorite c.b.

 

Wed, 07/09/2014 - 00:57 | 4938505 rehypothecator
rehypothecator's picture

The way a hyperinflation looks is that everything gets more expensive, including stocks.  While this might well be a bubble in stocks, it might also be people fleeing out of dollars and into fractions of productive businesses - before everyone else holding dollars does the same.  And by the way there are a lot of such dollars on various central bank balance sheets.  Russia, for example, might want to diversify out of their dollar holdings, by buying real assets.  Hyperinflationary collapses are spoken of here; what would those things look like, at the beginning of the end?  This.  

Wed, 07/09/2014 - 01:40 | 4938539 Liberal
Liberal's picture

Obama is the greatest president in American history. He pulled us out of a major financial crisis and look at us now! Jobs, jobs, jobs are EVERYWHERE!

Wed, 07/09/2014 - 02:45 | 4938586 Scarlett
Scarlett's picture

rehypothecator, you're right on the mark.  people are discounting the possibility that this is the beggining of the end.  people are still believing the usd will hold value, and discounting the H word.

Tue, 07/08/2014 - 22:41 | 4938224 Deathrips
Deathrips's picture

Farber... you optimist tease.

 

You know they all have central bankers balls deposited up the ass. Not just Obama.

 

30% LOL. Thats the first 1-5 days of trading.

What I want to know is.....

When the shit clears the air, how are you going to proove ownership? DTCC contract laws a bitch.

 

RIPS

Tue, 07/08/2014 - 22:00 | 4938082 Pinto Currency
Pinto Currency's picture

-

Tue, 07/08/2014 - 22:02 | 4938096 Escrava Isaura
Escrava Isaura's picture

Mark: “Stocks Could Crash 30% Because "Obama's A Very Poor President"

I just wonder if the stocks had gone up 30%?...... Wait a minute?

I am very sorry to repost it….. But I heard Mark reads Zero Hedge, so let me get this message to him.

Mark,

From a fan of yours:

It's all a big scan, Buddy! Our wages and profits, as well as minimum wages shitty jobs, are All powered by cheap money and lots of credit.

Minimum wage hogwash, free-market delusion, land of the free self-deception are just meaningless slogans ‘clichés’ to distract the clueless from the real issue —to many people and little growth.

The idea that we are sooooooo productive; and that we should look at the sham called Wall Street for answers, is a complete joke.

Time to retire… or get real!

Tue, 07/08/2014 - 22:06 | 4938116 fnord88
fnord88's picture

Mark has been preaching the same shit for the last 6 years. I guess one day he will be right, then claim to have predicted it all along. Meanwhile, out here in the real world, timing matters.

Tue, 07/08/2014 - 22:43 | 4938220 milbank
milbank's picture

"Mark has been preaching the same shit for the last 6 years."

So have all the Tyler Durdens as well.  Heck, this whole site, Zerohedge, has been dedicated to this exact "same shit for the last 6 years." 

Tue, 07/08/2014 - 22:57 | 4938276 dogbreath
dogbreath's picture

That could have been funnier if you had set up a new ZH account

Tue, 07/08/2014 - 23:14 | 4938327 milbank
milbank's picture

I wasn't trying to be funny, dog breath.

Wed, 07/09/2014 - 00:28 | 4938464 dogbreath
dogbreath's picture

I know but the slight exageration "6 years" made me check how long you've beeen here  -  4+ years not 6.    Could have ben funnier  - just sayin

Wed, 07/09/2014 - 01:25 | 4938528 August
August's picture

For the record, there are in fact folk (e.g. myself) who lurk at ZH for years before registering.

Wed, 07/09/2014 - 02:00 | 4938549 dogbreath
dogbreath's picture

"lurked for years"    I guess the Merkel avatar is appropriate then as she seems to have come from nowhere too.    Is Zh six years old

Wed, 07/09/2014 - 05:00 | 4938640 ebear
ebear's picture

 "Is Zh six years old"

5 years, 5 months, 9 days.   Close enough.

And what's with all the seniority bullshit?   What is this, the fucking Teamsters Union?



Wed, 07/09/2014 - 05:01 | 4938641 ebear
ebear's picture

 "Is Zh six years old"

5 years, 5 months, 9 days.   Close enough.

And what's with all the seniority bullshit?   What is this, the fucking Teamsters Union?



Tue, 07/08/2014 - 23:07 | 4938304 dogbreath
dogbreath's picture

I think people remember Faber when they watch him repeatedly on CNBC.  Remember he isn't shilling for Wallstreet getting everyone to buy.  He's telling everyone to get safe. For years I was of the opinion that the bond market would trigger the meltdown but the fed has circumvented that trigger with ZIRP and QE.  I am starting to think now that if the price of oil goes up with the turmoil in Iraq and Ukraine, that could trigger bigger problems.  I am guessing that that would trigger a collapse of whats left of retail spending and also hit real estate.

 

 

Wed, 07/09/2014 - 07:19 | 4938740 ebear
ebear's picture

"I think people remember Faber when they watch him repeatedly on CNBC.  "

 Good cover for CNBC.  Makes them look more "jouralistic" and less like what they really are, i.e. Wall Street shills.

Fools some of the people I guess, but then Faber (and I include Santelli here) are no fools.

So, either they know they're being used and believe they can work around that fact and get some sort of message across

OR

They are sellouts who don't mind being used that way as long as it serves them personally.

Whicih is it?

It's a question I would ask both of them, if I ever got the chance.

 

Wed, 07/09/2014 - 12:56 | 4940071 dogbreath
dogbreath's picture

Schiff is a better example of how CNBC had to smarten up.   I think they brought Schiff on just to be a punching bag but then he was proved right.   I'm guessing that they are trying to appear balanced.   Makes me wonder if that turd Cramer still comes on.  I don't own a TV

Wed, 07/09/2014 - 10:29 | 4939387 OceanX
OceanX's picture

" the price of oil goes up"

Don't worry the price of oil will go up.  Anytime, something grows as a percentage, the growth rate is exponential.  The CBs can suppress the price of oil for only so long.  When people demand the physical object in lieu of a paper coupon, we will be playiing a new game...

 

http://www.peakprosperity.com/crashcourse/chapter-4-compounding-problem

 

 

Wed, 07/09/2014 - 00:24 | 4938458 RafterManFMJ
RafterManFMJ's picture

In The White House we have a very poor President...

Oh no he didn't! Dat be rayciss! Obama got me all sorta cargo from his stash! He be like a big chocolate Santa n sheet.

Tue, 07/08/2014 - 21:49 | 4938028 AccreditedEYE
AccreditedEYE's picture

Seriously. How many times can you cry wolf past 100 times and still get media attention? We're crashing up, not down. Play accordingly.

Wed, 07/09/2014 - 06:26 | 4938690 intric8
intric8's picture

The bears will be right, one of these days

Tue, 07/08/2014 - 21:33 | 4937962 10mm
10mm's picture

No Mark, he is a selected puppet, period.

Tue, 07/08/2014 - 22:48 | 4938244 hidingfromhelis
hidingfromhelis's picture

Yup, and correlation is not causation.

Tue, 07/08/2014 - 21:37 | 4937978 buzzsaw99
buzzsaw99's picture

I found this tidbit on wiki which i thought was funny: Because of its open-ended nature, QE3 has earned the popular nickname of "QE-Infinity." On 12 December 2012, the FOMC announced an increase in the amount of open-ended purchases from $40 billion to $85 billion per month...

Tue, 07/08/2014 - 21:50 | 4938036 AccreditedEYE
AccreditedEYE's picture

= short vol till u 'ball

Tue, 07/08/2014 - 21:39 | 4937989 overmedicatedun...
overmedicatedundersexed's picture

the plan is reaching it's end

Tue, 07/08/2014 - 21:41 | 4937994 thismarketisrigged
thismarketisrigged's picture

im not falling for this crap.

 

i love u marc, but the bubble has not begun to burst just yet. 

 

when we see 2-3 days in a row of  -500-600 on the dow, then maybe the bubble will have begun to burst, but todays selling was so controlled.

 

europe is down 2 percent yet we r not even down 1 percent 

Tue, 07/08/2014 - 22:30 | 4938198 Kprime
Kprime's picture

just the feds jiggin the lure to snag as many idiots as possible.

Tue, 07/08/2014 - 21:44 | 4937996 Yen Cross
Yen Cross's picture

    Lets rename July 8th "Captain Obvious Day"...

  The futures markets seem to like the China PPI and CPI misses...Now China can keep REPOing the fuck out of their banks without massive *caugh*caugh* inflation worries.

Tue, 07/08/2014 - 22:00 | 4938092 NoDebt
NoDebt's picture

"Thanks, Cap'n Obvious."

"Global financial destruction out of the blue..... I don't need it right now."

Tue, 07/08/2014 - 22:04 | 4938105 overmedicatedun...
overmedicatedundersexed's picture

yellen speaks tomorrow, I am sure she will calm the waters - why? because no matter what bs illogical crap will come out of her pie hole, the MSM will scream she just saved the markets with her wisdom..bet on it.

Tue, 07/08/2014 - 21:41 | 4937998 Duc888
Duc888's picture

 

 

Oblabla is not allowed to play with the Banksterz.  He's not allowed to dabble in foreign policy.  His handlers do that.  All he is allowed to do is to pig fuck the 50 States.

oops

57

or something like that...

 

sorry.

Tue, 07/08/2014 - 22:30 | 4938193 Kprime
Kprime's picture

57 Hines, 50 shades of gay.

Tue, 07/08/2014 - 21:41 | 4937999 SHEEPFUKKER
SHEEPFUKKER's picture

A 30% crash and we'd still be 50% overvalued. 

Wed, 07/09/2014 - 07:45 | 4938780 spinone
spinone's picture

Well said, brother

Tue, 07/08/2014 - 21:45 | 4938014 junius
junius's picture

marc faber is a very poor market forecaster.

Onion was right.  Black man given worst job in country.

Tue, 07/08/2014 - 22:07 | 4938122 bonin006
bonin006's picture

If you care about improving the country, it's the worst job. If all you care about is enlarging your bank account, it's a pretty good job.

Tue, 07/08/2014 - 21:54 | 4938053 Spastica Rex
Spastica Rex's picture

Stocks could crash 40% or 10%, or 0%, or rise 10% or 1,000%, or...

Tue, 07/08/2014 - 21:59 | 4938086 max2205
max2205's picture

Today was bad....traders are second guessing. ....Moar POMO!

Tue, 07/08/2014 - 22:04 | 4938107 stant
stant's picture

Can't kill a bunch of women and children from england in a small town in Texas to prove you have control these days like the Clinton's.. The news media has no clout like then. And the so called militia they crushed then has evolved. Off the grid. Sucks to live in fear. Wish I was younger. I might see justice someday

Tue, 07/08/2014 - 22:05 | 4938108 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

Say what you will, but it's always good to hear a little Marc Faber for the morale.

Tue, 07/08/2014 - 22:06 | 4938114 tony bonn
tony bonn's picture

the problem isn't that "obama" is a poor president. the problem is that he is a traitor who was programmed by the cia to be traitor because the entire ziocon cia establishment are traitors. they murdered at least one president and will murder more.

the sock puppet-in-chief is a complete fraud with a 3d rate totalitarian mind. he is a homosexual with at least 3 dead boyfriends who did not die from natural causes. his "wife", "michelle", is a man. i don't think that this information has been priced in but would someone please explain the photo of "michelle" in a gown with his genitals sticking out? the bitch is a man.

Tue, 07/08/2014 - 23:09 | 4938311 Otto Zitte
Wed, 07/09/2014 - 08:30 | 4938900 drendebe10
drendebe10's picture

Where is the gown dick pic?

Tue, 07/08/2014 - 22:19 | 4938160 johnberesfordti...
johnberesfordtiptonjr's picture

I actually subscribed to this man’s newsletter for a while. Years ago I (luckily) came to the conclusion that it was rubbish (along with most other ZH commentary).

You’ll do better taking the opposite side of any trade/advice given here. My advice, short all ZH stars. Aside from the obvious advertisers (at the top of the page), I think that many of them are paying for placements.

ZH exists to provide doomster confirmation bias and Faber is one of many contributors. 

Wed, 07/09/2014 - 07:48 | 4938787 spinone
spinone's picture

Are you saying that conditions are not ripe for a repeat of 2008?  Or that timing it is impossible so make hay while the sun shines?

Wed, 07/09/2014 - 08:18 | 4938859 yrbmegr
yrbmegr's picture

Like predicting the end of the world, the thing about predicting a market crash is, one day you'll be right.  One day.  But we don't need anyone to tell us the world will end, or the market will crash, one day, do we?  This kind of claptrap is worse than useless.

Tue, 07/08/2014 - 22:25 | 4938185 Kprime
Kprime's picture

This is a great country.  We finally put a Negro Slave in the White House, in a room other than the kitchen.

Obama is a slave to TPTB.  Guess the apple doesn't fall far.  When he gets done tap dancing send him back to the cotton.

Tue, 07/08/2014 - 22:31 | 4938191 Cabreado
Cabreado's picture

Interesting to see the Faber-bashing.

He's been telling the truth for years in a context of unmitigated lies... and you still get pissy because he hasn't timed the crash for you too?

Wed, 07/09/2014 - 05:53 | 4938671 Wahooo
Wahooo's picture

Well, yeah. When someone stands on a stump in the town square every day crying wolf, they rightly deserve to be criticized when the wolf fails to show up. If faber were an honest man, he would simply say "I don't know. The market is confusing to me." But of course, he loves the lights and the cameras. Like most of TPTB psychos.

Tue, 07/08/2014 - 22:32 | 4938196 ebworthen
ebworthen's picture

Piss poor President, but close enough.

Long as the FED is there backstopping the cronies and mandarins while pissing on us citizen's heads it won't matter who is President.  End the FED!!!

Tue, 07/08/2014 - 22:40 | 4938209 pachanguero
pachanguero's picture

Faber was buying gold in $300 and Thai land for a song.  The guy owns a lot of stuff in Chang Mai.  I know I live in Thailand.

If you want to say he's been wrong I would disagree.

His view is very Asia.  The try to look 50 years down the road.

Tue, 07/08/2014 - 22:38 | 4938212 pachanguero
pachanguero's picture

The CNBC money honey sounds like a gambler chasing her money.  "but It could go higher"  right.  and they can flash crash. naked ect...

The true value is in the gold miners.  Osk.ff was a life once in a life time trade for me.

Nothing beats Physical gold in my hands. 

I live in Thailand and they are buying it like crazy as the Thai Baht get wacked. 

Tue, 07/08/2014 - 22:47 | 4938240 Kreditanstalt
Kreditanstalt's picture

Curious to know when the last time Gartman recommended holding NO gold...I'll bet it was when something else (general stocks!) was going up...

These clowns ONLY buy something already rising and only SELL falling stuff?   

Tue, 07/08/2014 - 22:47 | 4938243 yogibear
yogibear's picture

When the market is rigged don't make predictions unless your the rigger and not a liar.

Tue, 07/08/2014 - 22:53 | 4938263 AdvancingTime
AdvancingTime's picture

The term "the new normal" has not been used much as of late, but going forward it may be about to return. Many investors and the public at large may be about to realize that central banks can only do so much through printing money and lowering interest rates. Both these actions carry with them some very strong and nasty side effects.

Markets have become very distorted as money has flowed into risky assets in search of higher yields. It could be we are about to see the markets morph into a "realizing market", one that grinds slowly downward. Another possibility is that at some point the wisdom of buying every pullback changes and the market simply drops like a stone. More on what the future might hold in the article below.

http://brucewilds.blogspot.com/2013/06/realistic-expectations-for-econom...

 

Tue, 07/08/2014 - 22:54 | 4938266 Muppet
Muppet's picture

"Obama's a poor president".... oh yeah..... well Hillary says she is poorer.    Dead broke.

Tue, 07/08/2014 - 22:59 | 4938280 Otto Zitte
Otto Zitte's picture

Stawks could crash 81% because

Obama is the worst fucking president ever;

The supreme court is loaded with the worst POS ever;

 

The senate is the worst senate ever;

This congress is the worst congress ever;

The state governments are no better;

and mostly, because the perps need a decoy while they get away.

Tue, 07/08/2014 - 23:02 | 4938292 novictim
novictim's picture

Stocks are going to correct by 30% because the whole financial system over the past 2 decades is BULLSHIT.

Obambam is also bullshit but he is not the cause of stock corrections set to come.

"Investor" parasites are the problem.  Financial institutions are the problem.

Speculation does not create real wealth but tell that to the folks leaving the market with wheel barrels filled with cash.  Try to buy a house today and these fuckers will likely outbid you.  Does not matter that you worked 20 years to afford the 20% down.  The wheel barrels filled with cash are the problem we should focus our attention on.

Tue, 07/08/2014 - 23:07 | 4938302 butchtrucks
butchtrucks's picture

Faber - the man who has predicted 147 of the last 3 recessions.  Anyone still listening to him at this point deserves to lose their money.

Tue, 07/08/2014 - 23:10 | 4938316 dogbreath
dogbreath's picture

Anyone still listening to him at this point deserves to preserve what meager wealth they may have   -  fixed it for ya

Tue, 07/08/2014 - 23:10 | 4938317 alexcojones
alexcojones's picture

Very. Poor. President.

Almost a compliment.

War criminal, huckster, liar, fraud, Manchurian puppet. These are truer definitions, IMHO.

Wed, 07/09/2014 - 03:37 | 4938614 BeetleBailey
BeetleBailey's picture

A cunt, douchebag, asshole, pickle sucking commie fuckwad....

even better....

Tue, 07/08/2014 - 23:20 | 4938348 tempo
tempo's picture

bubble busting is a racist action as long as Obama is President and the FED prints. Go entitlements. DJIA 35000, Its the beginning of a dictatorship, Tx goes blue in 2016,

Tue, 07/08/2014 - 23:54 | 4938410 PoliticalRefuge...
PoliticalRefugeefromCalif.'s picture

I'm starting to think Arizona is right along with them about to turn blue, scorched earth/flood the zone tactics work.

On the economy I think too many plates are in the air to make it past this election- California agriculture taking a dump is gonna leave a mark.

Tue, 07/08/2014 - 23:42 | 4938395 ReactionToClose...
ReactionToClosedMinds's picture

so many 'wise' folks here bashing Faber...........keep it up ..... we will see who is ultimately 'more' correct than cheesy timing.........

Oh, ye of such little faith ......... Faber has been more 'right' than most other macro 'analysts'.  And I'm sure all the geniuses here were surprised by Fall 2008 when that was the most obvious capital market disaster waiting to happen in my multi-decade lifetime.  It was obvious by end of 2005... and Faber saw it too...... unlike the bulk of the now 'sophisticated' newbie ZH commentators....

Faber aligns with Felix Zulauf in broad strokes ........ so all of you are also callling Zulauf a fake as well?      Good luck you poor, oh so smart, 'investors'....

By the way, Sy Harding, aligns with Faber as well, and his long term track record is pretty good...... but there are so many sophisticates here now. 

Tue, 07/08/2014 - 23:47 | 4938402 Sick
Sick's picture

Precious metals are not in a bubble and it is obvious that TPTB do not want you to own it.  Screw them.

Wed, 07/09/2014 - 00:19 | 4938452 disabledvet
disabledvet's picture

Quite the murder/mayhem weekend in Chicago actually. That place is gonna need a call up of the National Guard here soon...and I am being serious this time!

These clowns are reaping the anarchic seeds they've been sowing for six years cuz "when it gets serious you shoot first ask questions later."

I imagine the overtime is pretty good. "Just patch him up coach...he's could for at least another ten or twelve gang-bangers."

Wed, 07/09/2014 - 01:08 | 4938513 Spungo
Spungo's picture

I like the new Maria. She's cute and youthful. I bet she's still capable of having babies too! rawr!

Wed, 07/09/2014 - 06:34 | 4938700 22winmag
22winmag's picture

Out with the old, in with the new.

 

More talking heads should look like her.

Wed, 07/09/2014 - 02:41 | 4938579 Bemused Observer
Bemused Observer's picture

"A poor President"...yeah. But we've had poor Presidents before.

Our problem is that we also have a shitbag Congress, a SCOTUS with the reasoning power of yeast, and a brain-dead voting populace. All happening at the same time, a Perfect Storm of ineptitude and failure.

Wed, 07/09/2014 - 07:21 | 4938744 Moe Howard
Moe Howard's picture

It is going exactly as planned.

TPTB don't call this failure, they call this fruition of a long term plan.

Wed, 07/09/2014 - 09:37 | 4939153 grekko
grekko's picture

Hey Moe!  Nyuck, nyuck, nyuck!  You hit the nail on the head there!

Wed, 07/09/2014 - 04:43 | 4938635 zipit
zipit's picture

Barry being a poor president or good president has low relevance.  Another crisis was/is inevitible given nothing has been fixed from the last one, which came because nothing was fixed because of the previous one, which....  Chart it back to Ronnie and Greenspan.  Barry let the wheels they set in motion, in motion.  The next president will do the same unless the cllapse is such that it forces real change (i.e., pitchforks).

Wed, 07/09/2014 - 09:36 | 4939144 grekko
grekko's picture

I don't own a pitchfork.  Will a good rope help?

Wed, 07/09/2014 - 05:12 | 4938644 Magooo
Magooo's picture

No Faber - it's going to crash because of this :

 

THE PERFECT STORM (see p. 59 onwards)

The economy is a surplus energy equation, not a monetary one, and growth in output (and in the global population) since the Industrial Revolution has resulted from the harnessing of ever-greater quantities of energy. But the critical relationship between energy production and the energy cost of extraction is now deteriorating so rapidly that the economy as we have known it for more than two centuries is beginning to unravel. http://ftalphaville.ft.com/files/2013/01/Perfect-Storm-LR.pdf 

Wed, 07/09/2014 - 09:34 | 4939139 grekko
grekko's picture

Finally, as for energy, help is on the way!

https://www.usiter.org/media/ITERProject.pdf

 

Wed, 07/09/2014 - 06:44 | 4938715 neuronius
neuronius's picture

"Are we il-advising this market?" coming from a CNBC Talking Head... you guys suck.

Wed, 07/09/2014 - 06:45 | 4938718 MickV
MickV's picture

Sigh, another one who doen't get it. Hussein Obama is more than a "bad president" He is an illegal President, since he was born BRITISH, because his father was BRITISH (of the colony of Kenya), and thus Hussein Obama could never be a natural born Citizen (one born in a country of Citizen PARENTS, where no foreign allegiance exists).

The NWO muscelled Hussein Obama in to finish off the US precisely because he is an illegal entity in the WH. He has no allegiance or attachment to the US, and his presence means that the law does not exist--- if the executor of the laws is an illegal entity theb there is no law. Obama and Holder now oversee the Cloward Piven destruction of the US. More illegal POTUS' and VPs are waiting in the wings for the Rs (Cruz, Rubio and Jindal are all born of foreign parentage) in order to protect Obama, and cover the treason that ALL of Congress has committed in allowing Hussein Obama, foreign enemy agent of the NWO, into the WH.

It is right in front of your eyes.

Wed, 07/09/2014 - 07:25 | 4938753 Moe Howard
Moe Howard's picture

Also critical is the removal of the restriction on dual nationals having a security clearence. This was done without any MSM coverage or fanfair. How can a country have dual nationals in positions of power throughout the executive branch? It is suicidal and we are dying. Openly, former FedGov officials take positions in the Israeli government such as head of the Israeli Central Bank.

 

None dare call it treason.

Wed, 07/09/2014 - 08:00 | 4938808 MickV
MickV's picture

And the allowance of "birthright citizenship", which was never the intent of the 14th Amendment, has diluted US citizenship, and created a whole industry of "birth tourism."

The intent of the 14th Amendment was to afford US Citizenship to those born in the US AND subject to the jurisdiction of the US, as the Wong Kim Ark case held (since Wong was born to LEGAL RESIDENT ALIENS, he was deemed to be "subject to the jurisdiction of the US" -- SEE Wong Kim Ark @ 693). The assumption that anyone born in the US is a US Citizen creates a situation where children of illegals are considered US Citizens while their parents are not--- basically kidnapping. It is all part of the destruction of the US by a treasonous Congress and their banker masters.

In fact the very naturalization oath of the US pledges SOLE ALLEGIANCE to the US, and Revised statutes 1872 defines a US citizen (member of the nation) as one subject to the jurisdiction of the US and no other foreign power (just like the Civil Rights Act 1866). Those born of alien non resident parents in the US are subject to the jurisdiction of the parent's country (legal residence creates a temporary allegiance as long as that legal residence exists-- natural law of "Inhabitance").

The assumption of "birthright citizenship" is one of the most destructive policies ever institututed in the US, and has never been legally upheld. Hussein Obama is just an extension of that. If you dilute the idea of a US Citizen then it is easy to dilute who is a natural born Citizen, eligible to be POTUS (or VP).

Wed, 07/09/2014 - 08:35 | 4938921 yrbmegr
yrbmegr's picture

Vast numbers of people with actual legal training disagree with you.  If a person born in the U.S. is NOT "subject to the jurisdiction thereof", then the U.S. has no power to enforce any law with respect to that person ("jurisdiction, n. 1. A government's general power to exercise authority over all persons and things within its territory."  Black's Law Dictionary, 7th ed.)  That infant cannot be deported, detained, held, extradited, or otherwise affected in any way by the U.S. government.  That infant gets to stay here, grow up, and become an adult completely free of any exercise of jurisdiction by the U.S. government.  What you propose creates an immigrant super-class with rights superior to those born in the U.S. to U.S. citizen parents.  I'm sure that's not what you intend, but it is the absolute consequence of your position.

Wed, 07/09/2014 - 10:18 | 4939279 MickV
MickV's picture

Vast numbers huh? The typical ramblings of a .gov troll who typically cites wrong opinions of those with "vast legal training" without actually naming them. "Jurisdiction", to the framers of the 14th Amendment meant "subject to the jurisdiction of the US and no other foreign power"--- exactly as it reads in the Civil Rights Act 1866. Everyone is "subject to the laws" of a this country, no matter where they are from (unless one is an ambassador or Indian not taxed). Typical of the subjective leftists, you like to change the meaning of words. If in the naturalization oath itself one is held to the standard of singular allegiance, then one born in the US cannot be held to a lesser standard..

Of course you don't even address the illogic of kidnapping children born in the US from their non US Citizen parents--- a totally illogical result of "birthright citizenship", as well as the other illogical results, such as birth tourism.

"What you propose creates an immigrant super-class with rights superior to those born in the U.S. to U.S. citizen parents". ------ Total nonsense. The Common law of the US is law of nations, (See Sosa v. Alvarez (2004)), and law of nations confers citizenship by parentage, not place of birth 

 As seen in the Preamble of the US Const.

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

"And our posterity"--- and to OUR CHILDREN>

Wed, 07/09/2014 - 10:22 | 4939330 yrbmegr
yrbmegr's picture

Normally, we don't use a word in its own definition.  So, "jurisdiction" does not mean "subject to the jurisdiction" for any English- or Latin-speaking person for three thousand years.  And "subject to the laws" has nothing whatsoever to do with jurisdiction.  Law and jurisdiction are different things.  You can have a law, but no jurisdiction to enforce it.  If you insist the United States has no jurisdiction over a person, then the United States has no "power to exercise authority" over that person (Black's again).  Also, that's not what Sosa v Alvarez holds.  You should read the case, or ask someone who knows.

Wed, 07/09/2014 - 10:49 | 4939457 MickV
MickV's picture

Typical of the .gov trolls. "That's not what Sosa v. Alvarez holds". Really? look at  where it quotes "The Nereide"--- something about how the new nation received law of nations. @ (1)(3)(A).

Sosa v. Alvarez held that the originalCommon Law of the US was law of nations, but that the Common Law does not create an individual cause of action. How's that? Oh I know, my "reading comprehension is bad", etc. etc.

You are the one that equated jurisdiction with subject to the laws, not me.

Wed, 07/09/2014 - 18:57 | 4941261 yrbmegr
yrbmegr's picture

Sorry.  Sosa v Alvarez held that the ONLY law of nations actions acertained under US law are actions regarding "offenses against ambassadors, violation of safe conducts, and piracy".  Otherwise, no foreign law allowed.  ATS and FTCA were not available to authorize causes of action in the case.

Wed, 07/09/2014 - 09:28 | 4939123 grekko
grekko's picture

Obama is a natural born citizen...of British Kenya.

Wed, 07/09/2014 - 10:32 | 4939392 TrulyStupid
TrulyStupid's picture

So if Obama goes what changes? You get yet another Bush or  Romney clone who continues the policies laid out by the Bush/Zionist crowd. You're trying to fix the blame instead of the problem. But I guess thats your job. Anything but stop the corruption.

Wed, 07/09/2014 - 10:42 | 4939434 MickV
MickV's picture

You are indeed "Truly Stupid". Hussein Obama is the endgame---- the invasion of the Oval Office by an NWO foreigner, invalidating US Citizenship and the Constitution itself.

Wed, 07/09/2014 - 07:45 | 4938782 Ban KKiller
Ban KKiller's picture

Greed, chasing yields, stock buybacks, cooked books, hft, price fixing, crooked ratings, false inventory, vapor ware....and wars. 

Bullish!

Wed, 07/09/2014 - 07:57 | 4938804 MFL8240
MFL8240's picture

In The White House we have a very poor President 

Talk about an understatement!!!

Wed, 07/09/2014 - 07:59 | 4938811 Chuck Knoblauch
Chuck Knoblauch's picture

Marc Faber is a Chinese Communist.

Wed, 07/09/2014 - 08:14 | 4938847 yrbmegr
yrbmegr's picture

But, of course, "you never know" what might cause a crash, or when a crash is coming.  You don't always even know it's a crash when it's happening.  So, all we have is speculation, which Marc is happy to provide to all who care to listen to him speculate.  Let us all speculate until something real happens.  Then we can all speculate about what caused it and speculate about when it will happen again.  Or, perhaps, all of us, including Marc, could do something useful.

Wed, 07/09/2014 - 08:38 | 4938930 Getting Old Sucks
Getting Old Sucks's picture

Kind of hard to understand you guys.  Here's someone who continues to try to get the word out, and a lot of you shoot him down.  He's not peaching to you because you're the choir; he's trying to reach anyone who's still clueless as to how fucked up the world's economy is.  He doesn't have to do that, he can just eat, drink and be merry now and probably after the whole thing goes to shit.  So, what do you want him to do?  Go away?  Then, the likes of CNBC has the pulpit all to themselves and the clueless, who are mostly powerless, all march down into hell for the good of those they are really for.  While Faber might be in the financial class of those 1%ers puppeteering the MSM to keep the charade going, he has the moral integrity and balls to try to warn those, who are going to go to hell for them, to try to protect themselves. 

Wed, 07/09/2014 - 11:52 | 4939712 Ghostdog
Ghostdog's picture

Risk 500 bucks to make 800?????? Thats a quick way to the poor house

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