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Marc Faber: "Fed Will Destroy The World"

Tyler Durden's picture





 

"Everything will collapse" is the consequence Gloom, Boom, & Doom's Marc Faber sees from the Fed's latest 'stimulus' (and the fallacy and misconception of how money-printing can help employment). In a wondrously clarifying interview on Bloomberg TV this morning, Faber explained why he was 'happy', since "the asset values of his holdings will go up" but as a responsible citizen he is worried because "the monetary policies of the US will destroy the world." It truly is class warfare under a veil of 'its good for you' as he notes: "the fallacy of monetary policy in the U.S. is to believe this money will go to the man on the street. It won't. It goes to the Mayfair economy of the well-to-do people and boosts asset prices of Warhols." Congratulations, Mr. Bernanke.

 

Must-watch (or read the transcript) - it is truly remarkable.

 

Faber on more Federal Reserve stimulus:

“It is difficult to tell what will happen. I happen to believe that eventually we will have a systemic crisis and everything will collapse. But the question is really between here and then. Will everything collapse with Dow Jones 20,000 or 50,000 or 10 million? Mr. Bernanke is a money printer and, believe me, if Mr. Romney wins the election the next Fed chairman will also be a money printer. And so it will go on. The Europeans will print money. The Chinese will print money. Everybody will print money and the purchasing power of paper money will go down. And I don't like bonds. I don't particularly like equities, but I think equities are a better space to be in than bonds.”

On what he will do with his portfolio in reaction to yesterday’s move:

“I own corporate bonds and I recently, as I wrote, I pulled some bonds from Kazakhstan because Kazakhstan economically is a much sounder country than the United States or any European country. But it is in small doses. I wouldn't put all of my money in corporate bonds. They have an equity character. I also own equities still in Asia and as I pointed out already four months ago for the first time in my life I bought equities in Portugal, Spain, Italy and France because they were unbelievably distressed. I think what people overlook today is they look at markets but they don't look at what happens within the market. In the last 12 to 18 months the U.S. has massively outperformed European markets, Asian markets with a few exceptions and now some markets are relatively depressed. I could argue the Chinese stock market is now relatively depressed. So the asset allocators may move some money in Chinese stocks and then they can rally 10% to 20%.”

 

The fallacy of monetary policy in the U.S. is to believe this money will go to the man on the street. It won't. It goes to the Mayfair economy of the well-to-do people and boosts asset prices of Warhols…Very happy. Very good for the Fed. Congratulations, Mr. Bernanke. I’m happy. My asset values go up but as a responsible citizen I have to say the monetary policies of the U.S. will destroy the world.”

On whether there’s any credibility in the Federal Reserve trying to bring down the unemployment rate and improve the housing market:

I think there is a huge misconception and fallacy that money printing can actually improve the rate of employment because the money flows down into the system. It goes first into the banking system and into financial institutions, into the pockets of well-to-do people. If you drop money into my pockets and you have at the same time increased government involvement in the economy and we have the government growing with its regulation and legislation that stifles economic development. I don't want to build a new business. But what I may do is look around the world, where are the distressed assets. So I will go and buy existing assets, takeovers. But takeovers don't add to employment. They destroy employment. Secondly, I would just like to mention one thing. This money printing business, they have been saying that for the last 15 years that bailing out LTCM were necessary. Then they say the NASDAQ collapsed after March of 2000. We need to create another bubble, print money. They created a gigantic credit bubble and the misery that we have today.”

On where gold prices are headed:

“I think that the trend for gold prices will be steady, but the trend for the dollar and other currencies will be down. In other words, in dollar terms the price of gold will trend higher. How high it will go, you have to call Mr. Bernanke and at the Fed, there are other people actually that make Mr. Bernanke look like a hawk. So they are going to print money. And they have done it for ages already and where has it led? To record high unemployment essentially since the Great Depression and structural unemployment. Unemployment goes among low paying jobs, not high paying jobs. So, you ought to own some gold, but don’t store it in the U.S. because the Fed will take it away from you one day.”

On whether he would buy property in the United States:

“Yes. Property prices in the south of the U.S. are very inexpensive compared to property prices around the world. The tragedy is that the people that were evicted from these homes have no access to credit. They have no money. They can’t buy them. So, with easy money by the Fed well-to-do people can buy these properties and then rent them out to the people that were kicked out of these homes. What a great achievement of the Fed. First they create the property bubble and destroy the wealth of poor people, then the poor people have to rent and the rents have been up over the last 12 months. What a great achievement. Thank you, Mr. Bernanke.

 


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Fri, 09/14/2012 - 11:18 | Link to Comment TonyCoitus
TonyCoitus's picture

Mission Acomplished.

Fri, 09/14/2012 - 11:20 | Link to Comment Pladizow
Pladizow's picture

Destroying America is Ben & Obummers objective?

Show me a policy that contradicts the above statement.

Fri, 09/14/2012 - 11:22 | Link to Comment Dalago
Dalago's picture

Ron Paul warned us.

Fri, 09/14/2012 - 11:24 | Link to Comment Pladizow
Pladizow's picture

BBB - Buy Borat Bonds - Very Niiice!

Fri, 09/14/2012 - 11:27 | Link to Comment BaBaBouy
BaBaBouy's picture

Protect Yourselves With GOLD...

GOLD $50K Bitchies...

 

Fri, 09/14/2012 - 11:31 | Link to Comment NewWorldOrange
NewWorldOrange's picture

Gold isn't going to help you much when every other person is a government thug or snitch. They will confiscate it, search for it, make it a capital offense to possess or use it. They did it in the 30's and they'll do it again. We have no choice. They have to go.

Let is begin here and now. Let's set the date. March 15, 2013. The Ides of March. The day Caesar was taken down. We all simply set down the Doritos, turn off the TV, and walk out into the street. Everyone. Let the crowds grow. If you're close to your city council, march. If you're close to your state capital, march on that. If you're near DC, march on that.

Against all enemies, foreign and domestic.

The enemy is domestic. They've trampled and abused every word of the Supreme Law of the Land. Through their machinations they have destroyed our way of life and will soon send us into the chasm. They must be brought to justice in the only manner possible.

March 15, 2013. Lock and load. Spread the word. Make it go viral. American Spring.

Fri, 09/14/2012 - 11:53 | Link to Comment TwoShortPlanks
TwoShortPlanks's picture

Is it just me, or does anyone else feel like collapse has been shifted into 5th gear?

It's like every star out there is a Black Swan and we're making the jump into 'LightSpeed'..."Punch it Bernanke"
http://www.youtube.com/watch?v=kT5UlRy80cw

Fri, 09/14/2012 - 11:53 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

I disagree.

This is money we're talking about.  It is a man made concept.  Gold's value is a man made concept.  

The concepts don't exist in nature.  

This stuff can be changed on a whim.  Bernanke is doing that.  The Obama Administration doesn't consider capitalism sacred.  They will intervene and manipulate daily.  Europe even more so.  

Because it's all whimsical, there need be no collapse from this.  Whatever the problem is can be reversed by decree because it's all imaginary.

It is oil that is going to take it all down.  Soon.  It is oil that is the underlying cause of all of this upheaval.  

It all falls apart soon, via oil.  But not now.  Give it a year or three.  Then you die.

Fri, 09/14/2012 - 12:13 | Link to Comment NewWorldOrange
NewWorldOrange's picture

"The concepts don't exist in nature.  "

Nature, to be commanded, must be obeyed.

I disagree." and "It all falls apart soon, via oil.  But not now.  Give it a year or three.  Then you die."

So where exactly do you disagree? On the timing? You may want to study up on the term "black swan." Or even "uncertainty."

It could happen tomorrow. It might take decades. No one knows. But like the poster you responded to, I do agree. The Bernanke just shifted into high gear, and even if we're no more likely to hit the wall than before, it should at least be more obvious to even the mentally challenged that hit it we will. Hopefully TPTB will be standing on that wall when slam into it. Only we can make that happen. No one's going to come along and save us you know.

America marches on the Ides of March.

Spread the word. Always, everyday, every chance you get. Let's organize the revolution. First thing on the agenda: TPTB have to go. Then the state legislatures will do what the law requires, or face the same at the traitors who've seized control of the Fed Gov and the Fed Reserve.

 

Fri, 09/14/2012 - 12:51 | Link to Comment The Shootist
The Shootist's picture

The "people" did not want Romney, the wanted a better contrast with Obummer like Ron Paul. The GOP establishment, along with Drudge, rammed him down our throats to spite the detested Tea Party. Fuck you GOP, grand old party my ass!

Fri, 09/14/2012 - 13:07 | Link to Comment NewWorldOrange
NewWorldOrange's picture

The "people" wanted American Idol and McDoubles. What planet have you been living on? When, and only when, said TV and junk food is taken away, will the "people" get serious about who runs their country and makes their laws. Fuck the "people." They get what they deserve. But it'll all get taken soon enough, and we'll see how TPTB respond to tens of millions of angry, hungry Americans marching on their city councils, state capitals, and federal government buildings in search of some traitorous scoundrels to hang.

America marches on the Ides of March.

Mark your calendar. If enough do, we'll win. Spead the word.

Fri, 09/14/2012 - 17:04 | Link to Comment philosophers bone
philosophers bone's picture

McDouble the prices!  I'm lovin' it!

Sat, 09/15/2012 - 07:03 | Link to Comment Simulacra10
Simulacra10's picture

McDouble Plus Good!

Fri, 09/14/2012 - 12:12 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

“Yes. Property prices in the south of the U.S. are very inexpensive compared to property prices around the world. The tragedy is that the people that were evicted from these homes have no access to credit. They have no money. They can’t buy them. So, with easy money by the Fed well-to-do people can buy these properties and then rent them out to the people that were kicked out of these homes.

I agree.  Disintermediate.  Be a land lord.

Fri, 09/14/2012 - 12:52 | Link to Comment FeralSerf
FeralSerf's picture

During Reconstruction and also the Great Depression, many people lost their real estate due to being unable to pay the property taxes.  Why do you think that won't happen again?  Property taxes are very difficult to evade/avoid and relatively easy for the governing bodies to increase.

Fri, 09/14/2012 - 13:23 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

There are at least two fallacies in your comment, red herring and straw man, but who is counting? 

Fri, 09/14/2012 - 13:17 | Link to Comment lightning
lightning's picture

They may try, but there is a big difference between the Great Depression and today.  More people today own homes than during that period thanks to all the bubbles (tech, housing, stock, etc).  I don't know about where you live, but in my area, the sheeple begin to riot at every mention of higher property taxes.  If the local politicians want to keep their jobs they know better than to raise property taxes.  This is unique in a way especially with the decrease in home values which has in turn decreased the amount most pay in property taxes.  Yet, in spite of paying less (based on lower home values) homeowners have basically made it known that government better find some other way of balancing the budget.  Keep in mind that I live in an area that is below the national average in unemployment and whose economy is supported by the military so we are impacted less than other areas.

Fri, 09/14/2012 - 14:47 | Link to Comment Seer
Seer's picture

"More people today own homes than during that period thanks to all the bubbles"

But, is this true by percentage?

Further, do all these people own, outright, their homes?  I suspect that they're no more than glorified renters (paying to the bank rather than a landlord, who, probably is also paying to a bank...).

"homeowners have basically made it known that government better find some other way of balancing the budget"

I'd wager that it'll be the banks that will present the greater pressures to hold/decrease property taxes as they bring more and more "inventory" back on to their books.  It's my theory that it's one of the big reasons why banks are so slow to reposes homes: in some cases the bank/lender may try to wring it out of the defaulter but... blood out of a turnip...

 

Fri, 09/14/2012 - 17:12 | Link to Comment Kobe Beef
Kobe Beef's picture

Agenda 21, smart growth, sustainable development, eminent domain, land restrictions...doesn't have to be a local government attacking your property rights through taxation anymore. Hell, HUD can just Section 8 some real choice tenants next door and destroy your equity overnight.

One way or another, Uncle Scam & the Bloodsuckers will take your property as soon as they want to. That's even more certain than them stealling your gold. You can at least hide that.

Anyhow, low interest rates are a bankster trap. They're just dangling the bait for anybody who didn't get completely fucked up in debt yet. Assume the worst, and you'll always know what the banksters & Uncle Scam are up to. Unless you believe "Linda Green" is negotiatiing in good faith. Sorry to say, but that's how low ethics goes in the USSA today.

Fri, 09/14/2012 - 16:37 | Link to Comment Theosebes Goodfellow
Theosebes Goodfellow's picture

~"This stuff can be changed on a whim."~

Right up unto the point where the paper is no good. Then they lose all power.

~"It is oil that is going to take it all down."~

There will be life after big imported oil dies. The transition process may have dicey moments, but the life that follows will be just fine. It's only TEOTWAWKI, not TEOTW.

Fri, 09/14/2012 - 21:15 | Link to Comment aphlaque_duck
aphlaque_duck's picture

Yes and no... gold's value as money is ascribed by man, true, but only insofar as money is a man-made concept. The use of gold as money was decided not arbitrarily, but due to its unique physical properties which come from nature. 

But I do agree with you that our present crisis all boils down to oil. It is the greatest treasure mankind has ever known. Gold is but a proxy to the true value which is a liquid hydrocarbon... for the price of a head of lettuce, oil does the work of a hundred man-hours.

Men eliminated human slavery by making carbon our slave. But soon we'll be going back, because we're burning throgh the stuff a million times faster than it gets put in the ground.

Fri, 09/14/2012 - 11:40 | Link to Comment Pladizow
Pladizow's picture

What % of the US population owned an assult rifle in the 1930's?

Fri, 09/14/2012 - 14:32 | Link to Comment Bad Attitude
Bad Attitude's picture

Hee hee. Turn your FRNs into something with intrinsic value, like ammunition.

Fri, 09/14/2012 - 11:55 | Link to Comment Dr. No
Dr. No's picture

They confiscated gold because gold in circulation prevented them from inflating/devaluing the dollar.  Now that the are free to devalue as they see fit, there is no reason to confiscate gold.  Actually, to confiscate gold would signify the government thinks gold has value.

Fri, 09/14/2012 - 13:00 | Link to Comment NewWorldOrange
NewWorldOrange's picture

to confiscate gold would signify the government thinks gold has value."

TPTB fully understand that gold has great value. Certain "government" people may not. Do you REALLY think the CBs and other powers that REALLY be won't "lobby" the government to confiscate? Or that roving bands of gangs, hoodlums, and thugs, otherwise known as cops and Blackwater Squads, won't do it of their own "duty"?Or that every other neighbor (mostly sheepish sheeple) won't snitch you out?

As for devaluing as they see fit, of course they can. And will. That's why the value of gold will soar. Now you're drinking the Alice in Wonderland koolaid (oh, and look, five "me toos!" were drinking it with you, having no clue what you really said except that is kind of sounded like a kudo to gold.)

Fri, 09/14/2012 - 13:51 | Link to Comment Dr. No
Dr. No's picture

Where are they going to get the money to officially confiscate?  They will outlaw guns, gas burning cars, cane sugar, and BigGulps before they outlaw gold.  Will an executive order comes down to "Surrender all gold to the nearest Federal building for $1700 (market value) oz or be prosecuted"? Perhaps they will demand confiscation without compensation?  Good luck with that.   Gold is not viewed as a threat to the governments power.  Stop spreading your fears.

Fri, 09/14/2012 - 17:39 | Link to Comment NewWorldOrange
NewWorldOrange's picture

You, Sir, are an abject idiot.

http://en.wikipedia.org/wiki/Executive_Order_6102

It was already done dumbass. There's even a copy of the executive order. Note the imprisonment provision. How can you be THAT stupid given that you've been signed up here over 2 years? Shill? Don't read, just talk? Willing to say anything, even obvious absurdities, to try to "sound right" and get green arrows? Pathetic.

BTW -- and hold onto your hat for this one -- the American government has already rounded up tens of thousands of law abiding American citizens it decided were a threat:

http://en.wikipedia.org/wiki/Japanese_American_internment

Will you still be a sycophant (water boy) for the Man at the FEMA camp? Tip: I hear girls at the NAZI camps could buy a little more time by cutting themselves and using the blood for lipstick. So pucker up assbitch.

Fri, 09/14/2012 - 19:13 | Link to Comment Dr. No
Dr. No's picture

I never denied the governemnt confiscated gold.  It is common knowledge.  It is also common knowledge why the did it: to devalue the dollar.  The US is not on the gold standard.  Therefore they do not need to confiscate to devalue.  Why are you have such a hard time keeping up?  Perhaps you are just too angry of an individual to think rationally.

Sat, 09/15/2012 - 07:59 | Link to Comment NewWorldOrange
NewWorldOrange's picture

"The US is not on the gold standard.  Therefore they do not need to confiscate to devalue."

The U.S. was not on a gold standard when they confiscated last time either dipshit. And who said they need to confiscate to devalue? Reading comprehension issues? YOU said they would devalue, but that would not affect the price of gold. I agreed they would devalue, and that that would cause gold to SOAR. Sorry the math on that is troublesome for ya'.

I'm guess I'm having such a hard time keeping up with you because you're still running in some strange parallel universe where black is white and up is down, and fast is slow. Very, very slow. Heh.

Sat, 09/15/2012 - 09:08 | Link to Comment Dr. No
Dr. No's picture

The U.S. was not on a gold standard when they confiscated last time either dipshit.

 

Gratz, you got it: The dumbest post on ZH.

 


P.S. I made sure to reply to your post so you could not edit it to remove your dipshit comment.  I will make sure to link that post to all your future comments I see, jut to highlite your stupidity.  Internet is a bitch.

Sun, 09/16/2012 - 07:27 | Link to Comment NewWorldOrange
NewWorldOrange's picture

Awwww...lil' fella is upset. LOL!

So you actually think the U.S. was on a gold standard in the 1930's? Hahaha. I realize that some writers who are really loose with the language refer to the tiny piece of a "gold standard" that existed in that era as simply "gold standard", and that certain simpletons don't understand what a gold standard really even means. Keep studying lil' fella.

"I made sure to reply to your post so you could not edit it to remove your dipshit comment.  I will make sure to link that post to all your future comments I see, jut to highlite your stupidity.  Internet is a bitch."

Say, speaking of Internet bitches, are you that scorned girl I remember from High School? Sorry, can't remember your name.

Fri, 09/14/2012 - 13:07 | Link to Comment seek
seek's picture

Exactly. I on't go so far as to say it won't happen, but trying to get people to turn in gold when they've denied it's money for so long in a desperate attempt to stay solvent will be among the very last acts the government does -- and at that time things will be so chaotic that either they won't be able to gather enough forces to do a search, or those very forces will be stealing everything they find.

Unless remote sensing technology has attained insane levels of advancement that have been hidden, there's no practical way to find a tube of Eagles stuck in a PVC pipe buried under a drainage culvert.

Add to that virtually no one in the US actually holds gold now -- and it becomes obvious what a desperation play this is. It may change if people wake up, but again, this is something that happens at the terminal end of this crap.

Fri, 09/14/2012 - 13:26 | Link to Comment lightning
lightning's picture

You are assuming that the reason given for confiscation will be based/predicated on an economic reason as it was in the Depression.  This is not necessarily so.  I believe that gold confiscation will happen, but it will be part of the war on terror.  The government will point out that many Middle Eastern sponsers of terror use gold and as a result of a "crackdown" US citizens will be banned from any gold transactions.  This will make sure the funding streams for terrorism cannot infiltrate our country.  Done only to ensure the safety of all americans and because most americans do not own gold, you won't have many complaints.  This cover story will allow the government the means to add to the empty treasury and to further their ends of making sure TPTB have all the resources and won't be challenged by any "little people". 

Fri, 09/14/2012 - 13:33 | Link to Comment The Dumb Money
The Dumb Money's picture

Forget marching.
Organize a run on the banks. 

Fri, 09/14/2012 - 13:37 | Link to Comment Seer
Seer's picture

And when the dust settles there will still be the issue of a TOTAL lack of ability to continue on the path of perpetual growth.  Physical resources will STILL be in decline while population numbers increase.

The "problem" is far more fundamentally based than most are willing to admit.  But hey, the notion of creating a big disturbance is how the big boys do it (that was the intent of the wars in the Middle East- they figured it fine [and perhaps even preferable] if they ended up creating chaos).  One can feel empowered to do all sorts of immoral things under such conditions: but, again, when the dust settles...

Fri, 09/14/2012 - 14:13 | Link to Comment lemonobrien
lemonobrien's picture

i'm a leaving on a jet plane, don't know when I'll be back again.

Fri, 09/14/2012 - 14:37 | Link to Comment Seer
Seer's picture

And in order to "get back" your choice of transport will be capped at that of riding a camel...

Fri, 09/14/2012 - 11:31 | Link to Comment francis_sawyer
francis_sawyer's picture

<=== Warhol "Campbell Soup" painting soon to cost $50,000

<=== Can of Campbell Soup soon to cost $50,000

Fri, 09/14/2012 - 11:40 | Link to Comment DavidC
DavidC's picture

I'm not sure which one to click, but it made me laugh!

DavidC

Fri, 09/14/2012 - 12:37 | Link to Comment francis_sawyer
francis_sawyer's picture

Timeless masterpiece :-)

Fri, 09/14/2012 - 13:26 | Link to Comment robertocarlos
robertocarlos's picture

It's the worst soup ever! One of the benefits of living in my Mom's basement is homemade soup.

Fri, 09/14/2012 - 11:48 | Link to Comment adr
adr's picture

You do know that Campbell is selling Andy Warhol commemorative soup cans right now.

http://www.cnn.com/2012/09/05/living/campbell-soup-company-andy-warhol/i...

IT'S DAMN NEAR PROPHETIC!!!!

Fri, 09/14/2012 - 12:40 | Link to Comment francis_sawyer
francis_sawyer's picture

Soup is good food...

Fri, 09/14/2012 - 14:16 | Link to Comment lemonobrien
lemonobrien's picture

not Cambell's; mostly salt. try homemade.

Fri, 09/14/2012 - 11:33 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

Wow, Mark Faber has a really big head.

Fri, 09/14/2012 - 13:59 | Link to Comment fourchan
fourchan's picture

dead video link

Fri, 09/14/2012 - 11:36 | Link to Comment TwoShortPlanks
TwoShortPlanks's picture

Mr   M-E-A-N-I-N-G-F-U-L-L-Y

Fri, 09/14/2012 - 11:34 | Link to Comment BaBaBouy
BaBaBouy's picture

Phuck Da Phed ...

Fri, 09/14/2012 - 12:06 | Link to Comment Mountainview
Mountainview's picture

And Marc Faber will be right longterm... But for Paul and Faber : How long is long term?

Fri, 09/14/2012 - 12:33 | Link to Comment Red Heeler
Red Heeler's picture

"Ron Paul warned us."

Ron Paul's Words of Warning From 1983 to 2008: http://www.youtube.com/watch?v=evYwPJUY_cc

Fri, 09/14/2012 - 11:38 | Link to Comment Marco
Marco's picture

Show me a president from Nixon on which wasn't on the exact same path already. Their objective is to keep the ball rolling, it just keeps taking more and more debt to do so ... and most of that debt isn't even caused by an Obomber policy, but simply deteriorating revenues and increased wellfare payouts on pre-existing schemes.

Fri, 09/14/2012 - 13:17 | Link to Comment TheObsoleteMan
TheObsoleteMan's picture

Nixon? You have to go back ALLOT further than him, more like FDR.

Fri, 09/14/2012 - 15:24 | Link to Comment Seer
Seer's picture

By political blinders perhaps...  I thought that FDR wasn't in office when the Fed was created...

And even then, it's the consequence of the AGES, whence the notion of "go forth and multiply" was our beckon call.  Quite a problematic foundation if you ask me, when we're operating on a finite planet and all...  The outcome, then, was always that we'd hit a wall (TPTB always use politics and religion to distract us from THEIR model [of control]).

Fri, 09/14/2012 - 16:41 | Link to Comment Theosebes Goodfellow
Theosebes Goodfellow's picture

More like Woodrow.

Fri, 09/14/2012 - 11:40 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

You get my vote. I think the reason people have such a hard time comprehending ben being in bed with obama is because mainstream belief is that all bankers are capitalists. Ben was after all appointed by bush but they forget about the bush's NWO goals. They are not real capitalists the Fabian Socialists have infiltrated all segments of society.  The big global banks are filled with them blankfein, dimon both life long democrats. People also misunderstand socialism it is really all about control and the common perception is socialism is sharing. Fabian Socialism was/is just the stepping stone to Communism they control the money and they share the wealth.

Fri, 09/14/2012 - 20:04 | Link to Comment Chuck Walla
Chuck Walla's picture

You get my vote. I think the reason people have such a hard time comprehending ben being in bed with Obama is because mainstream belief is that all bankers are capitalists. Ben was after all appointed by bush but they forget about the bush's NWO goals. They are not real capitalists the Fabian Socialists have infiltrated all segments of society.  The big global banks are filled with them blankfein, dimon both life long democrats. People also misunderstand socialism it is really all about control and the common perception is socialism is sharing. Fabian Socialism was/is just the stepping stone toCommunism they control the money and they share the wealth.

LMAOLORI you have nailed it, the overall scheme.

Socialism is Communism by the drink...

~PJ O'Rourke

FORWARD SOVIET!  This is what Forward Soviet means, to me, to you, to Obama and the One Worlders.

Fri, 09/14/2012 - 12:24 | Link to Comment FreedomGuy
FreedomGuy's picture

I would separate Ben and Obama. I actually do not think Ben is trying to destroy America. I disagree with everything he is doing but I think he is an academic who truly believes his false academic economic theories. In essence, he is an economic alchemist trying to turn lead into gold and really believes he can do it. He is going all-in with his theory. He is not alone, either. He is the visible head of many who agree with him. Do you think morons like Krugman would do any differently? We will suffer for their false economic religion.

Obama is another story. I actually don't believe he is purposely wrecking America. I think he is remodeling it and does not care if it wrecks. Come hell or high water he and his band of socialist-collectivist-statists mean to execute their plan regardless of the economic consequences. IF they could have a prosperous booming economy they would take it...and all the tax receipts. They would take credit for the economy even though they don't know how it works. Their game plan will result in the economic and social destruction of America but that is not the specific target...at least that is what I believe at this point.

Fri, 09/14/2012 - 13:24 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

Perhaps I am more cynical then you as I see it ben is enriching his friends at our expense and to continue doing that he knows if the stock market is up obama get's re-elected. 

The Stock Market Votes for Obama

snip

In fact, history shows the stock market predicts the election results, not the other way around. Not to keep you in suspense, a good market is good news for President Obama and bad news for his challenger, Mitt Romney. At least that's the record of presidential elections going back more than a century with a near-90% accuracy record.

No argument from me on krugman since ben is using Marx's Theory of Reflexitivity I am sure he approves in fact he's on site today in other posts telling us how wonderful this all is. Obama is remodelling it all right but to believe he isn't intentionally destroying it is the same as believing that Socialism is all about sharing and not control.  It would curb my cynicism if obama led by example and re-distributed his multi millions but he doesn't he just wants to re-distribute our wealth his own brother lives in poverty and his illegal alien aunt gets subsidized housing and other benefits.

Fri, 09/14/2012 - 19:33 | Link to Comment FreedomGuy
FreedomGuy's picture

The evidence for what you say is in fact, pretty good. So, I cannot disagree completely with your assertions. I just put a bit of my impressions on it. Obama would have to be a bit smarter than I think he is to do what you say, but it is his instinct. I saw 2016 and I really liked his brother. He seemed a humble and reasonably intelligent fellow who was not angry at anyone, unlike his father. Then, I thougt of the same thing as you. I just bought my mom a small car because she is on a limited fixed income (thanks to zirp) and needed a new car. There is Obama who has many times my resources and much of his Kenyan family lives in squalor or on the dole. They don't seem to resent him not helping them which shows a bit of their character.

What gets me, too is if you look at all the bleeding heart liberals around Obama, not to mention him why do they not help his family? Why don't they tell Obama that it is an embarassment to their ideology? Why don't they chastise Obama? Where is Rev. Wright on this?

The answer is as you suggest. It is not about caring. It is about power and ultimately control. That is the goal. That is always the end game in this collectivist crap.

Fri, 09/14/2012 - 20:09 | Link to Comment Chuck Walla
Chuck Walla's picture

 It would curb my cynicism if Obama led by example and re-distributed his multi millions but he doesn't he just wants to re-distribute our wealth his own brother lives in poverty and his illegal alien aunt gets subsidized housing and other benefits.

This is because Obama, Kerry, Kennedy, Buffet, Moore, et al are good capitalists. They got theirs and nobody is getting any of it. You and me, we're too stupid and need to be controlled by our betters who are better simply because they won an election. How else do they justify their own cynical corruption?

 

FORWARD SOVIET!

Fri, 09/14/2012 - 12:56 | Link to Comment FeralSerf
FeralSerf's picture

America was destroyed by the November 1963 Coup.  What we have seen since then is the flock's corral being tightened and made more restrictive.

Fri, 09/14/2012 - 13:21 | Link to Comment TheObsoleteMan
TheObsoleteMan's picture

America was destroyed in April, 1865 when the 10th Ammendment was trampled under foot, and big daddy Washington DC was made lord & master of us all.

Mon, 09/17/2012 - 18:32 | Link to Comment hvl626
hvl626's picture

You do not understand. Ben is doing a phenomenal great job. Ben’s job is not to save the economy; it is to save the banks (owners of the Fed -- including the Rothschild family).

He is the employee of the (unknown) cartel that owns the BOG. The BOG is a privately owned (concealed) corporation that claims to be a government agency. Privately owned corporations do not have to publish any accounting records or profits.

The BOG is currently making $4 billion EVERY DAY from the auctions of Treasury securities. That profit is hidden by the FRBNY’s exclusive handling of the auction accounts and distributed to the Primary Dealers (owners) disguised as purchases of securities being redeemed. There is NO PUBLIC information on the disbursements of the funds. Ref. FEDERAL RESERVE HEIST, www.scribd.com/doc/101937790 .

If Ben did not infuse more money into circulation, the banks (owners) would have to devalue their assets to market value. They would be bankrupt. Ben is saving the banks. Temporarily.

Congress members receive great increases in personal wealth; and campaign contributions, by supporting the scam.

It is another chapter in Benjamin Ginsberg’s book, FATAL EMBRACE; “financiers” AND THE STATE.

Fri, 09/14/2012 - 11:50 | Link to Comment asteroids
asteroids's picture

Bravo Marc, that was fun.

Fri, 09/14/2012 - 12:24 | Link to Comment Doublescythe
Doublescythe's picture

Shut the fuck up.
Long $AAPL bitchez.
Who wants another iPhone 5???
Don't forget your iPad mini!!!

Fri, 09/14/2012 - 11:18 | Link to Comment Racer
Racer's picture

The ChairSatan will go down in history as being responsible for more deaths than Hitler and all the other psychopaths put together

Fri, 09/14/2012 - 11:24 | Link to Comment otto skorzeny
otto skorzeny's picture

actually he and his Tribesman have sown a large swath of misery across history

Fri, 09/14/2012 - 11:49 | Link to Comment adr
adr's picture

yes, yes, they have.

Including the deaths suffered by those that tried to wipe them out.

Fri, 09/14/2012 - 11:22 | Link to Comment otto skorzeny
otto skorzeny's picture

Come on Faber-get with the Rah-Rah program.

Fri, 09/14/2012 - 11:24 | Link to Comment Dr. Engali
Dr. Engali's picture

The fed will destroy the world.....That's the point Marc. The world needs to be destroyed to usher in the new world order.

Fri, 09/14/2012 - 11:43 | Link to Comment Sam Clemons
Sam Clemons's picture

Yet, everyone who understands that just goes on watching.

Fri, 09/14/2012 - 11:44 | Link to Comment Sam Clemons
Sam Clemons's picture

Yet, everyone who understands that just goes on watching.

Fri, 09/14/2012 - 11:58 | Link to Comment margaris
margaris's picture

Second dark ages is NOT a new world order.

Its the old world chaos all over again.

 

 

Fri, 09/14/2012 - 11:23 | Link to Comment falak pema
falak pema's picture

The Warhols of Pall-Mall and the bearded mullahs of Sudan-Mall. 

Fri, 09/14/2012 - 11:24 | Link to Comment Mongo
Mongo's picture

Those who do not see the shit coming has a brain damage of some kind limitinig their cognitive abilities...

Fri, 09/14/2012 - 12:25 | Link to Comment Glass Steagall
Glass Steagall's picture

WWIII will square up nicely with QE3. You can fucking smell it.. M.E. will be the Serbia and Poland this time.

Fri, 09/14/2012 - 14:55 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

http://en.wikipedia.org/wiki/The_Great_Game

Yeah, really it's a war that never actually stopped.  Kinda like QE!

Fri, 09/14/2012 - 12:40 | Link to Comment Red Heeler
Red Heeler's picture

"Those who do not see the shit coming has a brain damage of some kind limitinig their cognitive abilities..."

That type of cognitive impairment is caused by exposure to the MSM.

Fri, 09/14/2012 - 11:24 | Link to Comment Atlantis Consigliore
Fri, 09/14/2012 - 11:24 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Marc Faber: "Fed Will Destroy The World"

Actually the Fed HAS destroyed the world. We just aren't feeling the effects quite yet. Almost there.

<Ben......are we there yet?>

 

Fri, 09/14/2012 - 11:28 | Link to Comment krispkritter
krispkritter's picture

So, when the Hardee's and KFC's start going up in smoke here, is that a good or bad sign?

Fri, 09/14/2012 - 11:43 | Link to Comment Pladizow
Pladizow's picture

Probably smells good?

Fri, 09/14/2012 - 12:54 | Link to Comment Uncle Remus
Uncle Remus's picture

Could just the biodiesel burning Hummer next to you. Wave to Aahnolt.

Fri, 09/14/2012 - 11:33 | Link to Comment Spastica Rex
Spastica Rex's picture

refeudalization

Fri, 09/14/2012 - 11:51 | Link to Comment kralizec
kralizec's picture

Damn, that is good, I may have to borrow that term from you!

Fri, 09/14/2012 - 12:01 | Link to Comment margaris
margaris's picture

Kings and queens all over the world have been waiting for this.

Also churches and monasteries...

They been waiting silently and patiently for their second "gig"

Fri, 09/14/2012 - 12:46 | Link to Comment FeralSerf
FeralSerf's picture

Little do they realize that they've been trumped by the Talmudic, Zionist Joos.

Fri, 09/14/2012 - 12:45 | Link to Comment FeralSerf
FeralSerf's picture

Little do they realize that they've been trumped by the Talmudic, Zionist Joos.

Fri, 09/14/2012 - 11:24 | Link to Comment common_sense
common_sense's picture

A new war is coming this week end???

Fri, 09/14/2012 - 11:28 | Link to Comment Abraxas
Abraxas's picture

FED could have never destroyed anything if we didn't let them. Hell, we partied for 100 years like there's no tomorrow, while countries have been burned and bombarded. No one could have seen it coming, right?

Fri, 09/14/2012 - 11:51 | Link to Comment adr
adr's picture

I never partied, I never participated in the farce. I have always been responsible and have grown a private corporation selling goods to the public.

For all of this I get to suffer and die along with the party people.

Great.

 

Fri, 09/14/2012 - 12:35 | Link to Comment Abraxas
Abraxas's picture

Unfortunately, we all come in the same package.

Fri, 09/14/2012 - 13:30 | Link to Comment TheObsoleteMan
TheObsoleteMan's picture

So have you learned anything from your responsible behavior comrade? In the USSA, being "successful" and "responsible" are for suckers. Why? BECAUSE IT IS TAKEN AWAY FROM YOU, AND GIVEN TO THE PARTY PEOPLE! They are just getting started. Wait until it is re-elected. The plans are already drawn up for a massive tax increase on the successful and responsible.

Sat, 09/15/2012 - 11:23 | Link to Comment rambo1028
rambo1028's picture

We get what they deserve.... it's a story as old as time.

Fri, 09/14/2012 - 12:39 | Link to Comment Paul E. Math
Paul E. Math's picture

I agree.

While it's tempting to blame Bernanke, he's really just doing his job.

The Fed's dual mandate requires that Benji focus on certain metrics regardless of economic justice and unintended consequences outside his mandate.

The Bernank isn't allowed to be concerned that the growth he's creating is enjoyed only by the richest few.

The Bernank isn't allowed to be concerned that the employment he may or may not be boosting is all in low-level service-oriented jobs for serf-wages.

It's not so much Bernank's fault as it is the institution of the Federal Reserve itself, I'm afraid.

P

Fri, 09/14/2012 - 11:25 | Link to Comment “Rebellion to t...
“Rebellion to tyranny is obedience to God.”-ThomasJefferson's picture

How much for the pair of tickets to front row center at Bernanke's/Greenspan's trial(s)?

How much to kick the stool out from under at the gallows pole?  Or perhaps to release the guillotine on the former esteemed fed chairmen?  

Could raise a tidy sum for a local charity event...

Fri, 09/14/2012 - 11:45 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

I would be willing to part with some silver or gold pieces for VIP tickets.

Fri, 09/14/2012 - 11:25 | Link to Comment Mister Ponzi
Mister Ponzi's picture

There are people at the Fed that make Bernanke look like a hawk... Great stuff!

Fri, 09/14/2012 - 11:58 | Link to Comment Bam_Man
Bam_Man's picture

A scary thought, if true.

Fri, 09/14/2012 - 12:09 | Link to Comment Pareto
Pareto's picture

Yellen for one.

Fri, 09/14/2012 - 11:26 | Link to Comment max2205
max2205's picture

Marc, you lost me at Kazakstan. What a douchebag

Fri, 09/14/2012 - 11:34 | Link to Comment TheCanadianAustrian
TheCanadianAustrian's picture

Post crisis, the world will need plenty of potassium and clean prostitutes.

Fri, 09/14/2012 - 11:26 | Link to Comment Dr Paul Krugman
Dr Paul Krugman's picture

Nonesense.  Who would issue the money supply?  The Congress?  Yes, because they are so trusting to do what is best for the economy.

It is a fact:  if Congress issued the money supply they would use it for political gains.  Thus why we have a third party at the behest of no one create the supply. 

Besides, the men and women at the Fed are skilled professionals who have studied the science of economics.

Fri, 09/14/2012 - 11:35 | Link to Comment Clueless Economist
Clueless Economist's picture

I agree with this post.

Fri, 09/14/2012 - 12:42 | Link to Comment FeralSerf
FeralSerf's picture

Do you belong to the Moron Church?

Fri, 09/14/2012 - 11:40 | Link to Comment fuu
fuu's picture

Still need that blowjob eh white man?

Fri, 09/14/2012 - 11:51 | Link to Comment Dr. Engali
Dr. Engali's picture

Are you offering? ;->

Fri, 09/14/2012 - 12:00 | Link to Comment fuu
fuu's picture

<smack>

Fri, 09/14/2012 - 11:48 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

We're on to you krugman in most circles you are referred to as an ass clown.  I wish there was an alien invasion and they took you with them.

A Huge Housing Bargain -- but Not for You

Paul Krugman's Alien Invasion Defense Idea To Save Economy Gets Brickbats, Bouquets From Experts

 

Fri, 09/14/2012 - 11:55 | Link to Comment adr
adr's picture

I can't downvote enough. So I up voted and then downvoted 100 times to make myself feel better.

 

GGGGGGGGGGGGGGGGAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHH

Please hit a deer on your way home and die.

No sense makeing a logical argument with a man who can't comprehend the fact that there are five fingers on a hand.

Fri, 09/14/2012 - 15:08 | Link to Comment koncaswatch
koncaswatch's picture

@ Dr. PK

At least under the Treasury, US fiat would trickle its worthlessness more directly to the public and not to the American iteration of the centuries old London banking cabal.

Sat, 09/15/2012 - 14:15 | Link to Comment No More Bubbles
No More Bubbles's picture

I rather doubt you're the real Paul Krugman, but if you are, just know that I'd like to beat your head in until it actually was capable of a rational thought.  That would probably take a serious beating, possibly to the point of death!

Fri, 09/14/2012 - 16:35 | Link to Comment bunnyswanson
bunnyswanson's picture

http://www.youtube.com/watch?v=J1KHsRJvQOY  This will lead to a loss of buying power of US dollar on the global arena.  There will be hunger and early deaths.  This is already happening in the EU. 

The idea this is policy to get through a tough economy is nonsense.

 

3 minutes of an explanation.

Fri, 09/14/2012 - 11:26 | Link to Comment Shizzmoney
Shizzmoney's picture

First they create the property bubble and destroy the wealth of poor people, then the poor people have to rent and the rents have been up over the last 12 months. What a great achievement. Thank you, Mr. Bernanke.

#this

But "inflation is good", say the Neo-Liberals.  "The jobs are coming".

What a bunch of bullshit.  I mean, it's pretty sad when a progressive libertarian like myself has to go to Marc Faber (increasing rents = drag on consumer spending) and Charles Biderman (declining incomes = declining tax revenues) for actual "progressive critiques" of current US economic policy. 

Fri, 09/14/2012 - 11:59 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

First they create the property bubble and destroy the wealth of poor people, then the poor people have to rent and the rents have been up over the last 12 months. What a great achievement. Thank you, Mr. Bernanke.

Don't forget to thank obama too for reappointing ben and paying back his bankster buddies it's a two fer obama get's re-elected as a result of bens give aways!

A Huge Housing Bargain -- but Not for You

snip more at link

NEW YORK (RealMoney) -- The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors -- vulture funds.

These homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value.

You and I will not be allowed to participate. These investors will come from the private-equity and hedge-fund community, Goldman Sachs (GS ) and its derivatives, as well as foreign sovereign wealth funds that can bring a billion dollars or more to each transaction.

In the process, these investors will instantaneously become the largest improved real estate owners and landlords in the world. The U.S. taxpayer will get pennies on the dollar for these homes and then be allowed to rent them back at market rates.

On Wednesday, the Federal Housing Finance Agency (FHFA), the Department of Housing and Urban Development (HUD) and the U.S. Treasury Department issued a Request for Information(RFI) concerning the disposition of the inventory of foreclosed homes owned by the federal government.

An RFI is ostensibly a way for the federal government to get input from the private sector on how to accomplish the goals laid out in the request. But that's really just a facade, as the RFI was structured by the investors to begin with.

The Stock Market Votes for Obama

Fri, 09/14/2012 - 11:29 | Link to Comment AvoidingTaxation
AvoidingTaxation's picture

Faber is the man!

Fri, 09/14/2012 - 15:21 | Link to Comment Taffy Lewis
Taffy Lewis's picture

Man, he is pissed off.

An epic, classic rant.

Fri, 09/14/2012 - 11:29 | Link to Comment muppet_master
muppet_master's picture

faber:  fed will destroy the world...

CORRECTION:  QEorganizer will destroy the world.

spx @ 1475 = TOP, eur @ 1.315 = TOP..SELL EVERYTHING !!

TOP, TOP, TOP !!!!!

Fri, 09/14/2012 - 11:30 | Link to Comment e-man
e-man's picture

"the fallacy of monetary policy in the U.S. is to believe this money will go to the man on the street. It won't. It goes to the Mayfair economy of the well-to-do people and boosts asset prices of Warhols."

This is precisely the reason Obama is trying to make people "pay their fair share."  It has nothing to do with fair and everything to do with sterilization of the effects of their printing press, by confiscation.

Fri, 09/14/2012 - 14:28 | Link to Comment TheObsoleteMan
TheObsoleteMan's picture

What the article doesn't say, is what this organization plans to do with the properties once they are acquired. I'll tell you what will happen: They will takes these homes, most of which are in middle and upper middle class neighborhoods, and turn them into section 8 rentals. The ones in worse condition will be handed off to Habitat for Humanity. Overnight entire neighborhoods that were once clean, crime-free and homogenous, will be turned into ghettos with filth, "diversity" and high crime. Privately owned homes in such areas have already took a hit due to the vacant inventory, but once this happens, they will collapse. Better to torch them now before the socialist get their hands on them. Salt the ground so nothing will grow on the turf too. Scorched earth strategy. Destroy it before the enemy can use it.

Sat, 09/15/2012 - 00:39 | Link to Comment James
James's picture

I'm currently looking for a very modest home.

Twice now I have been confronted by neighbors of property that said in no uncertan terms that if I bought they would make my life miserable.

One was a friend of the former owner.

Other was a guys sister.

Seems throwing people out of their homes does'nt go over too well w/people.

Was wondering why decent homes that were cheap did'nt sell.

Now I know.

Fri, 09/14/2012 - 11:31 | Link to Comment johnQpublic
johnQpublic's picture

long poverty

 

or maybe long bananas....whats a banana republic with no bananas

Fri, 09/14/2012 - 11:31 | Link to Comment Miss Expectations
Miss Expectations's picture

Marc is such a flirt!

Fri, 09/14/2012 - 11:58 | Link to Comment EvlTheCat
EvlTheCat's picture

I caught that too. hahaha

You look like you are 21...  I am suprised he didn't ask her out for drinks after the interview.

Fri, 09/14/2012 - 17:32 | Link to Comment falak pema
falak pema's picture

Its she that probably asks him out to drinks for a necklace type gift after the desert...his look was eloquent.

Hero of Dog and poney show of Msm, on the media circus which returns him the compliment of being their most colourful "villain" contrary investor and financial  critic.

Its well known, the villain is the guy who adds real depth and spice to any film; not the goody-goody hero.

The real kicks come from the Hannibal Lecter- Rhett Butler characters of ths world! 

Fri, 09/14/2012 - 11:32 | Link to Comment Drachma
Drachma's picture

Coming at you live from the Albany Egg Center for the Performing Arts its  Marc Faber and George Carlin!

Fri, 09/14/2012 - 11:33 | Link to Comment Jack Burton
Jack Burton's picture

Marc Faber knows what he is talking about. Bernanke is a money printing mad man. Only the 1% benefit from the Bernanke money printing.

The Mid East is in termoil, much due to high food prices. Money printing pumps liquidity into speculation in food.

Fri, 09/14/2012 - 12:35 | Link to Comment FeralSerf
FeralSerf's picture

Speculation in food, i.e. grains where it all begins, would not be nearly as profitable if it weren't for the conversion of 40% of the corn crop into ethanol fuel.  Ethanol production eliminates the grain surplus and encourages starvation at the bottom of the chain.  There's nothing like the starvation deaths of a few million poor people to fatten the bank accounts of the .001%.

Fri, 09/14/2012 - 11:34 | Link to Comment carbon
carbon's picture

DEAR TYLER! GOOD FRIDAY POST, OF GREAT DOOM Marc Faber, wish we had more like him.

Fri, 09/14/2012 - 11:38 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

FUCK YOU BERNANKE..................

death to all bankers.....

Fri, 09/14/2012 - 12:11 | Link to Comment Winston Churchill
Winston Churchill's picture

A slow and excruciatingly painfull death to all bankers.

Fri, 09/14/2012 - 11:39 | Link to Comment gdogus erectus
gdogus erectus's picture

Why listen to this gloom and doom when we can listen to more better economists?

Fri, 09/14/2012 - 11:38 | Link to Comment FeralSerf
FeralSerf's picture

Alan Greenspan (a Zionist Joo), "First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006. . ."

Ben Shalom Bernanke (a Zionist Joo), "On February 1, 2006, President Bush appointed Bernanke to a fourteen-year term as a member of the Federal Reserve Board of Governors, and to a four-year term as Chairman."

Anyone notice any trend here?  Not to say that Republican presidents have any tendency to appoint unmitigated disasters to head the Fed, but I can't help wonder which Zionist SOB Romney would appoint to the Fed if he actually lived up to his campaign promise.

 

Fri, 09/14/2012 - 11:57 | Link to Comment adr
adr's picture

Ha, you think Al Gore would have appointed someone different, or any Democrat.

The Fed chairman appoints himself. Who holds the presidency at the time is of no consequence.

Greenspan didn't screw the pooch until Clinton was in office. The tech bubble started when Greenspan eased.

 

Fri, 09/14/2012 - 12:26 | Link to Comment FeralSerf
FeralSerf's picture

How did you get the (incorrect) idea that I think Al Gore would have done differently (even though, coincidentally, the last Fed chairman to be newly appointed by a Democrat was non-Zionist(?) Paul Volcker)?

Many people still blame Carter for the high interest rates during his administration even though that was Volcker's work.  Perhaps if Greenspan and his pal Ben would have done the same, there wouldn't have been the housing bubble, eh?

"Greenspan didn't screw the pooch until Clinton was in office. The tech bubble started when Greenspan eased."

Not true -- the BIG increase in the debt and hence the money supply occurred during the Reagan-Bush administrations.  Remember Star Wars, the big defence buildup and the increase and the consequent investment/theft of the SS Trust Fund?  Volcker likely would have made the taxpayers, or at least the borrowers, pay for all that spending instead of borrowing and creating new money.

Fri, 09/14/2012 - 15:42 | Link to Comment Nikao7
Nikao7's picture

Probably because you had a "Republican" distinction in your post.  No harm no foul

Fri, 09/14/2012 - 11:39 | Link to Comment chrispycrunch
chrispycrunch's picture

The US is leading the world: Off the fiscal cliff.

Fri, 09/14/2012 - 11:40 | Link to Comment stant
stant's picture

hes traded in his old helicopter for a blackheart armed with a m134 of printers

Fri, 09/14/2012 - 11:42 | Link to Comment Hedgetard55
Hedgetard55's picture

Faber has described Ben as a serial money printer in the past. He knows.

Fri, 09/14/2012 - 11:44 | Link to Comment BORT
BORT's picture

 

 

What does ZIRP Do?  How does it impact me?  What Should I do.??????

If the professional fund managers can't make the nut on your pension, how the hell do you think you are going to do it?

We've had Ford and GM buy you out, now the NYT.  They are all going to buy out your pension.  Think carefully about this choice.  If you have a pension this will be your choice.  It's the new "BLACK"

By William Launder

New York Times Co. NYT +2.38% Friday said it will book charges in the fourth quarter tied to reducing its pension liabilities and making the publisher more stable financially.

The publisher of the so-called Gray Lady will offer former, vested employees the option to receive all of their pension benefits in one lump-sum payment, equal to the present value of their benefits, or to start receiving a reduced annuity.

The Times Co. said the size of the charges booked in the fourth quarter will be determined by how many eligible participants elect to cash out of the pension fund. A total of 5,200 vested participants are eligible for the offer, representing around 15% of the company's $1.99 billion in pension liabilities as of the end of 2011.

Fri, 09/14/2012 - 11:44 | Link to Comment Plymster
Plymster's picture

The Fed is only printing to suck in bagholders.  In he last 5 minutes of December 31, I expect to see an instant drop in the markets to coincide with the Bush tax cut expiration.  If volume is as low then as it is now, look out below.

Likewise, the Volcker rule will have to be implemented sometime (it was supposed to be implemented on July 21, 2012, but we see how that went).  The banks need bagholders stat.

Fri, 09/14/2012 - 11:45 | Link to Comment apberusdisvet
apberusdisvet's picture

Those of us that understand history, especially the role of the Rothschild cabal in the destabilization of economies through war, chaos and the control of money printing, one can seriously appreciate their incremental agenda of totalitalitarian control and world depopulation (otherwise known as purposeful genocide).

Now that this agenda is reaching the end game, we should all be afraid, very afraid.

Fri, 09/14/2012 - 11:45 | Link to Comment lolmao500
lolmao500's picture

That chick is a dumb bitch.

Fri, 09/14/2012 - 11:55 | Link to Comment GrinandBearit
GrinandBearit's picture

Maybe she's dumb, maybe she's not. 

What all these bobbleheads have in common is that they're sellouts.  She is saying exactly what she is told to say in order to get a paycheck.

Fri, 09/14/2012 - 15:19 | Link to Comment koncaswatch
koncaswatch's picture

Lauren is not a bobblehead... one of the few.

Fri, 09/14/2012 - 11:46 | Link to Comment Bam_Man
Bam_Man's picture

Betty Liu makes me want to puke.

Do NOT follow this link or you will be banned from the site!