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Marc Faber Responds To CNBC Mockery, Asks "How Has CNBC's Portfolio Done Since 1999?"

Tyler Durden's picture




 

Having provided his clarifying perspective on why the markets are extremely fragile and due for a 20-30% correction, Marc Faber was assaulted by CNBC's Scott Wapner reading off a litany of recent calls that have not worked out as planned. His response was notable: "I started to work in 1970, and over that career, somehow, somewhere, I must have made some right calls; otherwise I wouldn't be in business." What CNBC then edited out of the transcript was Faber pointing out his 22% annualized return in his publicly-viewable funds since then and asking - sounding somewhat frustrated at the anchor's mockery (and background snickers) - "I wonder what the CNBC portfolio would look like since 1999?" The response: silence.

 

Here are some recent thought summing up his view of the Fed:

It’s pointless to talk to Fed members about economics because they are academics who believe in money printing. Some of them believe they didn’t print enough, and so with these kinds of people, it is like running to the pope.

 

What do you want to tell them? It’s pointless to spend time with these people trying to convince them that their monetary policies have been very destructive.

 

They bailed out Mexico in 1994, and there was an EM bubble until 1997. They then bailed out LTCM (Long-Term Capital Management), which gave a signal to leverage up...then they had the Nasdaq bubble, then they printed again and had the housing bubble.

 

David Hume and Irving Fisher said bubbles are very destructive to the majority of market participants. They lose money, the minority makes money. The Fed doesn’t see it that way so it is pointless to talk to these people.

Faber on the health of the market, money-printing, and his recommendations...

At around 1:00, the tension rises... (before the hit phrase that incriminates CNBC in the bubble blowing falls to the cutting room floor as CNBC apparently decided the section about their own performance was not required).

*  *  *
It doesn't take long to remember various CNBC calls from the past that have not worked out too well ... or the treatment of Peter Schiff before the last crash to feel a sense of permabullish support for whatever cheerleader is advertising next.

 

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Mon, 07/28/2014 - 17:49 | 5014716 homiegot
homiegot's picture

Who's that bald CNBC fuck?

Mon, 07/28/2014 - 17:53 | 5014732 wee-weed up
wee-weed up's picture

Ha! Talk about a bitchslap!

Mon, 07/28/2014 - 17:57 | 5014754 DoChenRollingBearing
DoChenRollingBearing's picture

Ha ha ha ha ha ha!

Well done, Marc Faber!

5% - 20% in gold protects a LOT of wealth, think that over...

Mon, 07/28/2014 - 18:02 | 5014769 whotookmyalias
whotookmyalias's picture

Even a blind squirrel tells the correct time twice a day.

 

But if Peter Schiff and Mark Faber are expressing caution, those who dismiss it completely may someday wish they hadn't.

 

I can't believe CNBC is still around.  Just goes to show all it takes to satisfy our ADD society.

Mon, 07/28/2014 - 18:08 | 5014793 kaiserhoff
kaiserhoff's picture

Someone needs to ask the Fed why they are stealing ALL the interest income in this country, and giving it to the banksters.  Treason has consequences.

Mon, 07/28/2014 - 18:52 | 5014969 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

Well put. Financial repression is basically a hidden tax on savers.

Mon, 07/28/2014 - 19:02 | 5015018 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

Crushing insurers, MetLife just went on the NY Fed's "systemic risk" list. Not to mention what it's doing to Mom and Pop saver.

Mon, 07/28/2014 - 20:59 | 5015358 Drunk In Church
Drunk In Church's picture

Marc Faber rocks.  Fuck CNBC.  Bitchez.

Mon, 07/28/2014 - 18:12 | 5014813 kaiserhoff
kaiserhoff's picture

and yet, they can still sell advertising.  WTF?

Mon, 07/28/2014 - 19:06 | 5015016 Jack Napier
Jack Napier's picture

GE gives them plenty of overhead funding with all the money they save disposing of toxic waste improperly. They don't really have to make money on commericals.

Mon, 07/28/2014 - 18:15 | 5014825 Squid Viscous
Squid Viscous's picture

LOL at the "tensions rise" - "in this corner Scott Wapner who's last "fight" was when he was bitch slapped at Camp Hiawatha in the Catskills circa summer of  1986... vs.  ...whoever...let's get ready to RUMMMMBLE!

Mon, 07/28/2014 - 18:59 | 5015007 Amish Hacker
Amish Hacker's picture

Ah, yes, Chuck Wepner, aka The Real Life Rocky, (also aka The Bayonne Bleeder), went 15 rounds with Ali, and took such a pounding that ringside doctors were mystified how he was still standing.

Mon, 07/28/2014 - 19:52 | 5015151 Son of Loki
Son of Loki's picture

Wapner needs to discuss the issue of how well banks would be doing if they were not handed free money.

Mon, 07/28/2014 - 18:20 | 5014849 logicalman
logicalman's picture

CNBC is still around because it is part of the financial 'Ministry of Propaganda'

Mon, 07/28/2014 - 21:39 | 5015542 HardAssets
HardAssets's picture

That was the Ministry of 'Truth' . . . .
in 1984

Tue, 07/29/2014 - 01:20 | 5016417 Notsobadwlad
Notsobadwlad's picture

But they had to change the name from FNN (remember the financial news network) after losing all credibility.

Mon, 07/28/2014 - 18:02 | 5014770 DaddyO
DaddyO's picture

DoChen, your wisdom is pure folly of all those who follow CNBS and their ilk!

Why Faber and those like him tolerate the crap these statist shills puke out is beyond me.

This is not the first time we've had this discussion on ZH.

DaddyO

Mon, 07/28/2014 - 22:44 | 5015859 TheReplacement
TheReplacement's picture

I think Faber is understating how bad it will be.  I think he understands that if this thing goes belly up in a bad way that everyone, him included, is at risk no matter what they are invested in.  Waking people up and building a sort of bulkwark against what is coming is him just trying to hedge against worst case scenario.

Didn't someone say something about tanks in the streets last time?

 

Mon, 07/28/2014 - 19:52 | 5015148 Antifaschistische
Antifaschistische's picture

20% 30%?

Mr. Faber, are you saying a DOW in the 13,000 - 14,000 sounds like a fair value to you?

 

Mon, 07/28/2014 - 17:59 | 5014739 linniepar
linniepar's picture

CNBC: Long Lehman, Countrywide, and MFCorzine.

Mon, 07/28/2014 - 18:10 | 5014808 Squid Viscous
Squid Viscous's picture

Short: Wapner, another smug CNBS kike...

Mon, 07/28/2014 - 17:54 | 5014741 Escrava Isaura
Escrava Isaura's picture

No more soup for Marc Faber!

Mon, 07/28/2014 - 18:50 | 5014976 DoChenRollingBearing
DoChenRollingBearing's picture

He's probably good for CNBS ratings.  And maybe paid for just that...

Mon, 07/28/2014 - 17:58 | 5014757 Berspankme
Berspankme's picture

Always found that Wapner an irritating little fuckwad. Always has .gov jizm left over on his cheeks. Not a good look.

Mon, 07/28/2014 - 17:59 | 5014758 Greenskeeper_Carl
Greenskeeper_Carl's picture

I saw this. I don't see why peter schiff or faber still go on and talk to those people. Maybe they feel an obligation to save a few muppets from these people, i guess. Same with the daily show. I watched schiff and andrew napolitano on there, and the way they are treated, and have their words twisted adn taken out of context is appaling. I don't know why so many otherwise intelligent people think they are ever going to get a fair hearing out of these people. If you dpn't fit with their agenda, you arent allowed to get their message across

Mon, 07/28/2014 - 18:13 | 5014814 Captain Willard
Captain Willard's picture

You should view the increased level of Bear baiting on CNBC as a contrary indicator. Open ridicule of those questioning the monetary orthodoxy of the Fed and the upward trajectory of the market is now a media staple. So it can only mean that the top is in sight.

There are plenty of smart people questioning current market levels and Fed policy: Stan Druckenmiller, Jim Grant, Jeremy Grantham, Marc Faber, Rob Arnott, Felix Zalauf, John Hussman - I could go on and on.

All of the above are way more successful than their gasbag interlocutors on CNBC. Losers and wannabes yell, money talks and finally wealth whispers. 

Notice that today, CNBC talked with Henry Blodget, the rehabilitated Internet stock tout, as if he were an elder statesman. Faber was ridiculed. You decide.

Mon, 07/28/2014 - 18:48 | 5014970 Greenskeeper_Carl
Greenskeeper_Carl's picture

ya i here you. I just still don't get why some of those guys go on there. I guess, at least in schiffs case, he can get some more footage for the next "peter schiff was right" youtube video, which will probably come out midway through 2015, after this fed-induced bull(shit) run is over. And i have been thinking a top wa in for a while. I pulled my money out of the S&P indexed IRA at S&P 1894. I bought some SPXS a couple weeks ago, and have watched it lose about 8%. I get the whole 'this time is NEVER different' thing, but i think we all may be underestimating just how manipulated and artificially propped up this thing is. Could go on a lot longer than we think possible. We get a negative GDP print, and the labor force participation rate continues to collapse, and half the world is either at war or at the brink of one, and all these conflicts involve pretty much every major economy on the planet, yet stocks keep hitting new highs every day, and gold goes no where. They just may sacrifice what little value to dollar still has left just to keep the S&P/Dow reaching new highs.

Mon, 07/28/2014 - 19:10 | 5015030 Jack Napier
Jack Napier's picture

Schiff and Faber still have businesses to run and clientel to market to. Any publicity is good publicity when you're in the business of selling something. It worked. We're here giving them fanfare. BTW, did you know Schiff is an Illuminati namesake?

Mon, 07/28/2014 - 20:41 | 5015299 Tulpa
Tulpa's picture

With the Daily Show, if they don't go on they get accused of cowardice and/or secretly knowing that their opinions are wrong.  The problem is the stupid audience; you can't get around that.

With CNBC I agree with you because there is no audience to be concerned with.

Mon, 07/28/2014 - 18:19 | 5014842 Kirk2NCC1701
Kirk2NCC1701's picture

The CNBC bald guy with the soul patch?  I'm guessing he's Soulman.

Mon, 07/28/2014 - 17:50 | 5014723 Sinnedi
Sinnedi's picture

I love these 30 second commercials for 1 minute videos. Welcome to the future!!

Mon, 07/28/2014 - 17:51 | 5014725 orangegeek
orangegeek's picture

chinese market breaks to upside - sure, because china has solved their debt crisis and the economy is expanding again

 

shanghai is making a move up, but take a look at a monthly - consolidating and ready for more downside

Mon, 07/28/2014 - 17:59 | 5014760 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

Any stock market in a bubble economy is dangerous.

Even dangerous (especially dangerous) to short.

Mon, 07/28/2014 - 19:13 | 5015046 Jack Napier
Jack Napier's picture

Not any more dangerous than sitting on a pile of FRNs, or a stock market not in a bubble.

You either have tangible assets or you have someone else's promise thereof.

If anyone thinks the promise of one crook is less risky than the promise of another crook, they're in line for a rude awakening.

Mon, 07/28/2014 - 17:52 | 5014730 souljaboy
souljaboy's picture

There are two reasons CNBC was ever popular: Maria Bartiromo's nipples.    

Mon, 07/28/2014 - 17:56 | 5014750 Rainman
Rainman's picture

jeezus, man, you just made me upchuck my cheetos.

Mon, 07/28/2014 - 18:02 | 5014772 whotookmyalias
whotookmyalias's picture

Even my wife knew her by "honey money".  Me, I called her butter face bart.

Mon, 07/28/2014 - 18:15 | 5014823 kaiserhoff
kaiserhoff's picture

Moved to Fox Business,

which hasn't been right since Wild Man Cody left.

Mon, 07/28/2014 - 18:19 | 5014846 Kilobar
Kilobar's picture

Maria Buttafuoco

Mon, 07/28/2014 - 18:00 | 5014764 Berspankme
Berspankme's picture

Now  she has to unbuckle her pants to see her nips. Saggy tits

Mon, 07/28/2014 - 18:10 | 5014804 NidStyles
NidStyles's picture

Nothing special about her. She looks like every other bitch I've encountered in my life.

 

You know the type, they come from that one tribe and are above everyone else.

Mon, 07/28/2014 - 20:42 | 5015306 Tulpa
Tulpa's picture

Druish princess?

Mon, 07/28/2014 - 18:16 | 5014824 1stepcloser
1stepcloser's picture

They were better indicators on Fed day than Greenspan's briefcase indicator... Both Stiff, easing. One stiff no change. both soft rate hike.  She's been stiff for years now..

Mon, 07/28/2014 - 18:17 | 5014830 SheepDog-One
SheepDog-One's picture

Way back in the day I used to stop on CNBS to see Erin Burnett for a bit, she's disgusting to me now though, just another gussied-up media ho.

Mon, 07/28/2014 - 18:18 | 5014840 1stepcloser
1stepcloser's picture

You know u'd still hit it...but even harder

Mon, 07/28/2014 - 18:31 | 5014889 SheepDog-One
SheepDog-One's picture

Nah she's pretty enough, but she's got the body of a 10 year old boy.

Mon, 07/28/2014 - 18:48 | 5014964 Spitzer
Spitzer's picture

B cups Burnette ?  I think she got a boob job now.

Mon, 07/28/2014 - 18:32 | 5014896 NidStyles
NidStyles's picture

Before or after you found out she was a Goldmanite? Notice her degree is basically worthless but I'm sure that meant less than her membership of the 'crowd' that likely got her into the door at Goldman. 

Mon, 07/28/2014 - 18:45 | 5014958 Spitzer
Spitzer's picture

Probabaly has some dark WOP pancake nipples but I'd still motorboat them. Not sure what it would cost me though...

Mon, 07/28/2014 - 17:54 | 5014737 MuleRider
MuleRider's picture

It always kills me when some tit-sucking state-apologists summarily dismiss Austrian/libertarian investors and declare how you'd "lose your shirt" if you ever followed their advice.  Do the likes of Mark Spitznagel not exist in the fantasy-lands these bozos inhabit? 

Mon, 07/28/2014 - 17:57 | 5014752 Al Huxley
Al Huxley's picture

Why does anybody who's not a professional cheerleader even bother appearing on the state's official financial propaganda channel?

Mon, 07/28/2014 - 17:59 | 5014753 syntaxterror
syntaxterror's picture

Marc Faber: is it bolted down?
CNBC: No
Marc Faber: then buy it you dumb motherfucker.

 

Mon, 07/28/2014 - 18:00 | 5014762 Australian Economist
Australian Economist's picture

I dont see the second video, is it just me?

Mon, 07/28/2014 - 18:09 | 5014799 whotookmyalias
whotookmyalias's picture

Neither do I.

Mon, 07/28/2014 - 18:11 | 5014807 Escrava Isaura
Escrava Isaura's picture

It's not you! Faber is gone. We're next!

Mon, 07/28/2014 - 18:07 | 5014791 surf0766
surf0766's picture

Fuck the communist propaganda channel

Mon, 07/28/2014 - 18:15 | 5014815 Escrava Isaura
Escrava Isaura's picture

Surf,

Get your noun correctly.

Mon, 07/28/2014 - 21:18 | 5015421 Tall Tom
Tall Tom's picture

Whooooooosh!!!

 

Fuck communist propaganda.

 

Verb-Adjective-Noun (which is the Object).

 

The Subject is understood as "You".

 

Now I have to instruct Fifth Grade Grammar???

 

BTW...It is proper to write, "Get your noun correct." If I want to use "correctly" as an adverb then I will position it at the beginning of the statement as follows. "Correctly get your noun."

 

 

Shit!!!

 

.

 

 

Mon, 07/28/2014 - 18:08 | 5014794 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

I saw this live. Faber, who I have always noticed as having as polite, friendly and playful a demeanor as anyone who comes on these shows ever has, actually seemed to snap back. More than I've ever seen him do so. He was losing patience with these rude clowns.

It seems as if he is brought on now to be demeaned and laughed at. His comebacks were pretty solid: loved his challenged re: the comparison of portfolios. Chuckling did stop.

He provided advice that was in fact bullish in part--buy Hong Kong equities. Later in the day, of course, panel "x" on whatever (pre/post market) show was going on-and-on about the opportunities in China. 

 

 

Mon, 07/28/2014 - 18:17 | 5014831 Callz d Ballz
Callz d Ballz's picture

File this one in the:  Will make a great "told ya so" infomercial someday pile

Mon, 07/28/2014 - 18:13 | 5014817 SheepDog-One
SheepDog-One's picture

Oh CNBS can mock and ridicule but the little royal cowards can't tolerate a bit of it in return and have to censor it? Fucking propaganda 24/7.

Mon, 07/28/2014 - 18:14 | 5014820 balolalo
balolalo's picture

...And that was the last time the MSM listened to Faber.  

That is exactly when you should!!!! 

Mon, 07/28/2014 - 18:16 | 5014827 Fuku Ben
Fuku Ben's picture

Faberhaft

Mon, 07/28/2014 - 18:18 | 5014834 buzzsaw99
buzzsaw99's picture

they weren't laughing right before their GE stock got a bailout

Mon, 07/28/2014 - 18:25 | 5014868 Cult of Criminality
Cult of Criminality's picture

Marc

No one respects,trusts,or cares what cnbc says, quit helping them with their bullshit.I appreciate you as many others.Watching cnbc would be like watching obummer.

Bullshit lies and more bullshit and lies.The tv at my residence has had the plug pulled for over 5 years.They are as [pointless as that pebble 3 inches under the earth in your yard.

Unplug you tv and live life without all the B.S

Mr Faber,You know you do not need these people,only the sheeple are watching and they will not pull the log out of their eye so, as stated (somewhat) its all just acting for the zombie nation.theatre of the absurd or much worse.

disclaimer; Some letters were not capitalised on pupose as they do not deserve it.

As always,have a nice day

Mon, 07/28/2014 - 19:23 | 5015067 Boxed Merlot
Boxed Merlot's picture

Unplug you tv and live life without all the B.S...

 

I would but the post audio and computer supplied MLB info is still not quite the same as audio / video of "live" action.  As much as I would like to purge my system of any attention and / or influence of major league baseball, I can’t seem to do it.

 

Perhaps if I were to toss the rest of my baseball / US athletic cards in the dumpster I wouldn’t find a need to follow HOF inductees and other such “worthless” tidbits of human endeavors.  On the other hand, I still find Frank Thomas and Tony LaRussa  outstanding for their respective contributions to the sport.

 

Jmo.

 

Mon, 07/28/2014 - 18:30 | 5014882 syntaxterror
syntaxterror's picture

How many people watch CNBC per day now? 10k? 500?

Mon, 07/28/2014 - 18:36 | 5014914 huggy_in_london
huggy_in_london's picture

errr china... just don't buy into the company that built this ...

http://www.telegraph.co.uk/news/worldnews/asia/china/10995174/China-gets...

Mon, 07/28/2014 - 18:40 | 5014937 Jackagain
Jackagain's picture

I watched the 2nd vid on a link from Yahoo Finance earlier...it's the first time I've seen Faber pissed. Of course the vid CNBC released was cut short...

Here's some more the perma-bulls at CNBC can ponder:

http://www.safehaven.com/article/34592/setting-the-stage-for-the-next-collapse

Borrowing money to buy shares....now where did I hear about that brilliant strategy before?

http://www.bloomberg.com/news/2014-07-06/bond-anxiety-grows-in-1-6-trillion-repo-market-as-failures-soar.html

Mon, 07/28/2014 - 18:43 | 5014950 kevinearick
kevinearick's picture

Rigged Indexing

SO, you have a clock as input, a clock as output, and you are going to bypass gravity, by collapsing spacetime in the middle, with a set of gears built for the purpose, and you want to go many places, so you are going to build interchangeable gears. Have you ever noticed how fast the specialists work, to go nowhere, because other specialists are negating the former, which becomes additive economic activity, GDP?

Who cares what skills the public, private and non-profit corporations want? Let them train you to be useless on a part-time job. The further up you go, the greater debt you collect, and, sooner or later, the bank calls it, one way or another. That’s what MBAs do. The new doctors aren’t collecting wealth from FILO; they are renting a layer of pollution, their space, like everyone else in the empire. Grade school is pre-automation education.

The critters are waiting for taxes to gain on government spending, it’s not going to happen until demographics turn again, and civil marriage, the majority on this planet, is not capable of raising children, leaving only a downward spiral in purchasing power. Whether they die slowly or abruptly depends upon their chosen path of war. Empires are self-adjusting, unless you interrupt them.

Every civilization lionized in History has assumed preeminence over the planet, granted by one superstition or another, and all have failed miserably. There is no exit from the buy to let, disposable debt, natural resource exploitation system, but the psychology of demographic collapse. Timing the interruption depends upon how much gravity you want to carry.

Collapsing the petrodollar, for a basket of currencies or digital fiat, will have no bet effect, because there is no reservoir of easily exploitable resources available to civil marriage, upon which to base its debt issuance, to re-ignite the confidence scam. Going off-grid sounds great, as an advertisement, but the reality is far beyond the majority.

You cannot allow single people, masquerading in civil marriage to the end of material possession, set prices with debt and costs with law, and expect a happy outcome, for anyone. The majority has no free will, blaming the 1% as a scapegoat, because it practices no free will, on a one-way trip, backwards, seeking an ‘equal’ right to the product of others, like your production is a gift from their gods, which they should be able to take as needed.

If you haven’t noticed, all the derivatives are moving back home with their parents, or getting a $100k operation at the hospital to get on the dole, some of them even risking dialysis despite having had perfectly healthy organs. I don't have to concern myself with those that took my children, granting themselves the right to arbitrarily assign debt to my income, because they are killing each other all around me.

My children began with the best genes and the ability to ignore ignorance, if they so choose. If they choose, they will be better programmers, and as you can see, if you can program a lick of code to extend compliance, you can write your own check in the empire economy, because it is desperate. Facebook doesn't sell anything, but advertising, for derivatives on a curve of rapidly diminishing returns.

Natural resources per capita are growing in the midst of a demographic collapse, which is only now being reported, and the critters cannot ignite sustainable growth, because they have no real skills, and all the talent has vacated. If the electrons worked according to the model proffered by higher education, there would be no electricity. One electron can and does offset many protons and neutrons, in time. DDT or fracking, pick your poison.

A contrived battle between the middle class, controlling the law, and legacy, controlling debt, is of no more concern to labor than who the actor is on a P&G TV game show on a 50 year run. If you adjust the S&P for purchasing power, everyone lost, despite rigging the index. The critters bills are going up faster than the S&P, and they keep doubling down, proposing more laws to reverse it, wondering why income inequality keeps growing.

If you want to see what hospitals, and all the other markets, do, take a look at what the digestive system does, relative to other systems, and examine colon surgeries. Most problems begin in the mouth, so you might want to replace that toothpaste. You have already examined the relationship between debt and education ad nauseum, with no letup in the debt created. But labor has better things to do, in the meantime. If your children don't have nutrition, the color of your tennis shoes, the type of car you drive, or where you live doesn't matter.

If you have a development ready to go at will, another for your children or other people's children, and another for your grandchildren or other people's grandchildren, it doesn't matter what the automatons do. You cannot depend upon your children to invest in your future, to remain unswayed by the rigged ponzi lottery, or the State to remain uninterested in taking your children, but you can be prepared.

Tue, 07/29/2014 - 01:56 | 5016484 Notsobadwlad
Notsobadwlad's picture

A man calling himself "the magician" came to me in the middle of the night, offering the technology for free energy. It is what I had always dreamed of (re)inventing and distributing to people at no charge so that they could free themselves from slavery. It seemed a noble goal.

Yet, I declined because it occurred to me that those who have the most to lose and fear likely already have it, gobbled up as critical military technology when some other poor soul tried to patent it. And, recalling von Braun, Tesla and Oppenheimer realized that if they did not already possess it they would use force to possess, suppress and corrupt it the way they do with everything else...

... and fame, power, wealth and death are not so attractive given the company they keep.

Mon, 07/28/2014 - 18:47 | 5014962 The Phallic Crusader
The Phallic Crusader's picture

I still can't believe Stanley Fischer, former head of a foreign government's bank, the nation to which he is no doubt primarily loyal, is playing Emperor to Yellen's Darth Vader, who may or may not be the fall guy, but who is plainly the one to go out and speak just palpable nonsense on the record.

It would be very interesting to see what Treasury is doing for Israel.  And what the Fed might be.

And for Belgium, for that matter.

 

Of course, we don't have a "right" to find out, apparently - and nobody seems to notice, and nobody seems to care.

 

I like Faber, what I know of him, and though this will invite a rich array of junks - I think he's talking out of his ass here.

I think the correction is much, much sooner.  Look at the fucking world - things not only get worse, they get worse at an accelerating rate....

 

Mon, 07/28/2014 - 19:25 | 5015081 Salsipuedes
Salsipuedes's picture

It's known as the E.R.M. (Exponential Rate of Muggery).

Mon, 07/28/2014 - 19:47 | 5015137 dvfco
dvfco's picture

That's as opposed to Obama's favorite game in Chicago called E.R.B. - Exponential Rate of Buggery.

Mon, 07/28/2014 - 20:07 | 5015193 Salsipuedes
Salsipuedes's picture

Precisely! Weren't you in my Political Math class at U.C.?

Mon, 07/28/2014 - 18:48 | 5014965 The Phallic Crusader
The Phallic Crusader's picture

off topic - who's the chick with the tits on RT?

Why not just have a topless finance chick show?

Why are we so hung up on not seeing breasts?

 

It's barbaric.

Mon, 07/28/2014 - 19:02 | 5015013 SIOP
SIOP's picture

"....Faber pointing out his 22% annualized return in his publicly-viewable funds.."

I would like to peruse those funds, Do I have to pay to see these "publicly-viewable funds" ? I dont see them anywhere on his web site (http://www.gloomboomdoom.com/)

Mon, 07/28/2014 - 19:22 | 5015072 Salsipuedes
Salsipuedes's picture

As would I.

Mon, 07/28/2014 - 19:10 | 5015032 Shizzmoney
Shizzmoney's picture

RE

I saw this. I don't see why peter schiff or faber still go on and talk to those people.

b/c its a free advertisement for their companies? (actually those guys also might get paid a fee for doing the appearance).

Mon, 07/28/2014 - 19:13 | 5015044 Herdee
Herdee's picture

This is the same type of BULLSHIT we've seen before from the PUPPETS at CNBC.Look at how they attempted to slience the opinions of Michael Pento.If you go to Kingworldnews they have freedom of speech not the cut-out editing by some shisters in thr backroom at CNBC with an agenda.CNBC once again looks like a stooge or the typical western corporate media outlet spewing propaganda for a fascist federal government.They might do better if they hired a couple of the stupid bimbets that the Whitehouse uses as spokeswomen.

Mon, 07/28/2014 - 19:21 | 5015066 Salsipuedes
Salsipuedes's picture

Zum heil and shine on you crazy old gnome!

Mon, 07/28/2014 - 19:23 | 5015075 gibons
gibons's picture

Faber at his best: making money even when things don't go his way.. too bad for all the experts, who called to short equities and buy gold, but not to buy Treasuries, cause, well, USA is insolvent some time in the future, so sell Treasuries today..

Mon, 07/28/2014 - 19:49 | 5015143 Chuck Knoblauch
Chuck Knoblauch's picture

Does Marc get a blowjob from Maria/Becky/Liz every time he's on the show?

Why does he still do it?

Mon, 07/28/2014 - 20:01 | 5015181 Salsipuedes
Salsipuedes's picture

Rim jobs. He lives in Thailand for God's sake.

Mon, 07/28/2014 - 20:12 | 5015202 Brokenarrow
Brokenarrow's picture

I understand why a thief will lie for money. I always wonder why the cnbc prostitutes lie for crumbs or nothing.

Mon, 07/28/2014 - 20:38 | 5015244 TalkToLind
TalkToLind's picture

Marc Faber silenced the entire CNBC panel for several seconds with his How has CNBC's Portfolio done... comment.  Those CNBC blowhards were almost as silent as they were when they "accidently" outed a CEO for being a fudge packer.  The best moments on CNBC are when they have their sewers shut.

Mon, 07/28/2014 - 20:30 | 5015261 Never One Roach
Never One Roach's picture

Main Street is certainly sinking deeper. Anyone check their local retail store recently? Last weekend?

Dead with almost no foot traffic. Despite "triple coupon bonuses" ... "early owl specials" ... "reward points" ... "cash rebates" ... "BOGOS" ... and tons of other marketing ploys, the poor consumer is just that; a Broke-Down Donkey.

I have to agree with Faber we are due fora serious 20-30%correction or more. Faber has underestimated the ability of the Feds and corporations to manipulate, buy back, etc.

Mon, 07/28/2014 - 22:57 | 5015922 andrewp111
andrewp111's picture

Faber may eventually be right about a big correction. However, things are still extremely bullish out there. I doubt we will see a big correction until the price of oil has a big spike, a la 2008.

Tue, 07/29/2014 - 00:33 | 5016300 loub215
loub215's picture

CNBC drinks their own bathwater... Short attention span theater, if you're cuatious, or a bear... they'll give you 30 minutes without commercial interruption if you're a permabullsh...

and Judge Wapner's kid is a punk... what's he ever done?

Tue, 07/29/2014 - 00:33 | 5016301 loub215
loub215's picture

CNBC drinks their own bathwater... Short attention span theater, if you're cuatious, or a bear... they'll give you 30 minutes without commercial interruption if you're a permabullsh...

and Judge Wapner's kid is a punk... what's he ever done?

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