We're Doomed and Washington Can't Do Anything About It - Marc Faber and Mish Shedlock

[arcanacelestia]

Obviously he's not wearing a wig.

[packoo]

Mogambo Guru :)

[ristau]

People,

Let's unite under Max Keiser's advice:

"Crash JP Morgan, Buy Silver!", and the rest will come.

.

It is also the best investment you can make.

.

Pass it on.

[Snyder29]

The dollar is a lie - only a matter of time until the world demands the truth.

[floridawaterfronttv]

Japan has a trade surplus, which we could only dream about. Not only that, our actual debt to gdp is somewhere around 400%. All the numbers are completely cooked. If politicians were corporate officcers, they would be jailed for giving such exaggerated numbers.

[KayGriffith]

haha Faber is the Fuckin man

[jobedied]

The default is war, the plans are already in place the think tanks are have developed the plans. The government knows a large expansive war will bring the economic machine into firing on all eight cylinders. The American people are tired of hard times and ready to send their children in mass off to war. American people expect,demand,

and pray for war as a vehicle to bring Santa and all his gifts back into the cultural fold.

Any American worth his weight in crap will go heavily into debt.

[slushomatic]

@jobedied that was the most retarded and bigotted statement I have ever read in my entire life. you sir are a true living example of a duchebag

[jobedied]

@slushomatic I except your insult as the gift of someone who cares about the fate of our nation. But to think that there is not some truth in that over the top hyperbole would be to dismiss the evil that exists in the hierarchy of our government.

[slushomatic]

@jobedied "The American people are tired of hard times and ready to send their children in mass off to war. American people expect,demand, and pray for war as a vehicle to bring Santa and all his gifts back into the cultural fold." This is what you typed and the part I responded to unless your a total idiot dont even place the US citizens in the same boat as the "elected" officials of our government dipshit. So by you posting the above statement proves my first post...Continued

[slushomatic]

Continued......Of you being a biggoted son of a bitch. Get off your high horse and understand that not everyone in the US is like our elected officials moron.

[jobedied]

@slushomatic I will not get off my horse because your hyperbole is foolish bullshit American's have their heads in the sand . I go to County Freeholder meetings from a population of 480,000 never more than five or six people attend. From my township council meeting population 8,000 hundred total three or four. People sitting home with heads up CNN,s ass or up Lost's ass. They will drink all the Koolaid the government tells them and you have the discernment of a monkey eating his own feces.

[slushomatic]

@jobedied Lmao learn what a hyperbole is first then get back to me. Secondly it is obvious you live in a country that limits what you see and hear in the press much like our press thats why it is also obvious that you know jack shit about anything that goes on in the US. CNN, ABC, NBC are all Liberal controled media do I listen to them hell no as they do not even help defend the constitution of the US. Again you are the most bigotted person I have ever had the pleasure of responding to.

[pretorious700]

Faber is an amazing man, and he has the good taste and insight to live here in Thailand.

[notpcone]

Is it just me, or does Marc Faber sound like COLONEL KLINK? But seriously, Faber is Dead ON !

[TheFreedomly]

I see, the biggest problem, it is in the globalization economy which a few countries are prospering and the most of the countries are paying the prices just to keep those a few countries on the top of the pyramid economy, so globalization and capitalism walk hand in hand, while on the other hand, the fighting countries for a good economy walk hand out of hand, rather than being united and fighting against the globalization and fighting agaisnt capitalism.

[defexorcist]

@UBER069 Who is 'we', white man?

[defexorcist]

@UBER069 You are not so much describing Americans as you are describing humans. Enjoying the trappings of decadent lifestyles at the expense of others is the modus operandi of every empire and world or regional power that has ever existed. Unless we make some gigantic evolutionary leap in the near future, expect the same from the next bully on the mound. If China becomes the next global empire, the world might see the British and American exploits of yore as the 'good old days'.

[pishdad]

F'ing bunch of charlatans!!

[pishdad]

Ahhh!! Haaaaaa!!! A trillion dollars!! Ha, ha, ha!! That's like coming out of the autopsy room after examining Kennedy's blown off head and saying he died of allergic reactions from a mosquito bite!!!!!!! Ha, ha, ha, ha, ha!! A trillion dollars!! The nerve of some people!! LMAO!!!!! Ugh!!!!

[numag1]

How do you protect yourself against good counterfeit gold bullion?

[freedomman121]

@UBER069 You are naive bigot. Canadians don't have anymore control over their food supply than they do over their oil. The international interests do. It has not been about countries for a long time. It's been about global interests competing with each other, pitting countries against each other and anything else they can to do it. The Canadian government has sold you down the river as ours has done us. Also, not all of us Americans are alike. Fortunately, not Canadians are like you.

[freedomman121]

Understood @ UBER. So what happens to Canada when the US can no longer buy those goods and resources from Canada? Before you answer, keep in mind that the EU is in trouble as well and tries to trade within its countries.

Get my point? When the economy of Canada's biggest customer (the US) falls, Canada's will fall as well.

The international bankers have seen to it that we are all interdependent like a circle of dominoes. If one country falls, they all fall.

[KimInLosAngeles]

Dr. Doom Faber on the California ID! LOL

[Voy2378]

Marc Faber rules. :D

I like his stories...

[beginization]

Looks like Usery finally won, I can see why the germans turned on the jews

[beginization]

I have been investing in Gold coins and silver since last year and my family thought I am crazy, sometimes if you warn people too soon your made out to be a nut. I could see Obama had plans to crash this economy to remake america in his idealism chicago style.

[CetraTJ]

unfortunately, what they propose: buy gold instead of american currency, own foreign properties, etc. will only serve to hasten any economic downturn. If investors take thier money out of american currency the dollar loses its value and foreign countries will stop trading in american dollars. The dollar will collapse. Buying foreign properties takes money out of the US economy. I think these guys are really saying "move somewhere else!" which only further weakens the infrastructure

[jayelefbee]

That to secure these rights, deriving their just powers from the consent of the governed, --That whenever any Form of Government becomes destructive of these ends, it is the Right of the People ***to alter or to abolish it, and to institute new Government***, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.

[kage574]

A lot more competition for the US, whose economical affairs (other than the military) is still in "Cold War Mode." The course seems to make sense so far, but Its just an intro course

[kage574]

I've been taking political science courses and they have cool point of view. The US accounted for 1/3 of the world's manufacturing after WW2. That began to change 1970s when the world that was destroyed during WW2 (minus western europe and japan) started rebuilding,catching up and being competitive in the market. This economic downward spiral has been going on since the 70s! It is only different now because the US is not just competing with only soviets, but an entire emerging 3rd world

[Verlch]

anything of value could become money. and traded for other things of value. the problem is the red tape, and the constant insertion of a middle man needed to buy produces at the wholesale level. Beit it mild produced by dairy farmers, or fish caught in the ocean. Americans are red taped to death, and forced to sell to middle men refineries at a set price. These guys then follow the "law" and pasteurize and irradiate, to sell at the retail level.

[r4nge]

What you are saying is true but think about it this way. Wheat is good for food. Oil is good for energy. Gold is good for money! We need money and the best kind is 'uncounterfeittable', transportable, etc. Gold was practically destined for it.

[BlueTunisia]

Gold is not a "rock". It is an element on the periodic table. A pure atom. It cannot be destroyed! It is easily identifiable by normal people. It can be cut up and reshaped. It has a history of being a currency for 5,000 years!

Gold is the PERFECT money.

[enemyartistkristofeR]

I agree, it is too late for the course the U.S. has been on, to recover, and I say that is a good thing. Sure, a lot of people are going to get hurt for a bit and things are going to get rocked. But then we have to emerge in a new Golden Renaissance, led by freedom oriented people, creative and technical minds, educators and great architects of society. We need to move forward. This system is a failure, it is time for a better America, one of We the People.

peace. love. anarchy.

[dlucas90]

Govt. debt is created by a fraudulent process of converting debt(aka thin air) into dollars to begin with, so, if the banks want there air+interest back, we should all fart a trillion farts into plastic bags and give it to the central banks of the world and say "here is your air back plus a little extra something, you could call interest"!

The debts are created from nothing, they should be paid back in nothing. Furthermore, the money to pay back govt. debt. doesn't exist in the money supply.

[Lingerfoot]

@dlucas90 - Sir, please explain this to me better about aka thin air. I don't understand what you are saying. Peace!

[dlucas90]

Well you see, since the creation of the private central bank, also known as the FED reserve, in 1913, banks have been legally authorize to convert debt into US currency. This has a number of negative effects that I can not explain in 500 spaces. The absolute best resource to start researching how money comes into existence is a Canadian educational video called "money as debt". I don't agree with the films solution to our current system, but it is the best explanation of the current system.

[wreagfe]

Human civilization is nothing more than "assigned" value; if you think gold is worthless that's your subjective opinion but its historic role as a medium of exchange is settled. Gold has always been the money of free people before government came into the picture to screw it up.

[wreagfe]

Value in trade. Gold is a COMMODITY, it served for ages as a medium of indirect exchange so that the economic system can get out of barter and make use of the division of labour (specialization) which along with capital accumulation is where modern civilization is built on.

The scarcity of gold is not artificial but natural, or I suspect you are a wannabe alchemist.

I'm not sure why you want to advertise your economic illiteracy this openly.

[Chainedorlo]

@UBER069

You don't have any idea of what gives money it's value.

[crabtrap]

your currancy is falling as well UBER,i think you know little about fiat currencies or gold or preparedness stratagies as a whole . next you'll say pussy is worthless

[Barclay1987]

Do you think that Obama is stealing all the people money? If you think about it? You're finally learn the truth!

[DaveC86]

it is not worthless RIGHT NOW, it could buy you a lot. and if the US dollar collapses, it could still buy you a lot. IF you were the last person on earth, yes gold is worthless, if you have no one to trade with, it is worthless. if no one has produced any food/shelter/clothes, it is worthless. but this will never be the case unless you're the last person on earth. undeniably it is smarter and safer to own gold than paper. as long as the division of labour exists, gold will have a worth.

[DaveC86]

a countries wealth isn't necessarily tied to natural resources, there are a lot of poor countries with LOADS of natural resources. (and japan has virtually none but became an economic power) the difference is all in productivity. Low taxes, few regulations etc. gives people incentive to produce more, heavy regulation, high taxes and poor monetary policy destroy production. a stable currency is vital to economic growth. PRODUCTION=WEALTH, resources can't save a country from poor monetary policy.

[Verlch]

@DaveC86

Which is the progressive strategy of liberal republicans and progressive democrats. Regulate the private sector, and empower the public sector.

Will the public sector always be benevolent with absolute power? Let's ask Hitler and the Germans.

[KhmerD0g]

u are right. just look at so many different natural resources in africa and yet they are still poor. there are a lot of oil in the middle east and yet they are not as strong as japan or south korea. Dubai hired Samsung to build the world tallest building.

it is how efficient u use the natural resources.

[AFRIKTODAY]

It is how well the resources are allocated in the society.If you base your economic system upon a centralized system of economic allocation, you are bound to create more problems than solutions. On the other hand, if you allow the markets and entrepreneurs to innovate and distribute the resources in a free untampered economy.

[KhmerD0g]

in ideal world free market works best. but in real world where politicians think they are better at redistribute resources to the population just to make them look important.

[skb0rzn]

ANd who controles them? NOTE the same places you mentioned are also AIDS infected and starving and NOT WHITE. As soon as the cattle are killed off the white bankers and their corperations will move in and take over and use the resources to make money and more shite we don't need, it just takes time and planning to wipe out entire races. Don't worry they don't matter anyway because they don't work or pay into the system or buy up the junk they are selling or invest, so they don't matter.

[DaveC86]

yes in a free society people would still use banks. there would be no banking cartel, no money monopoly, no legal tender laws. the market would quickly decide what money is (most likely gold). people would not need to carry it around, they could choose to use bank notes from a FULL reserve bank.

if civilization fails, people will still produce and trade, the division of labour will re-commence and a currency (gold) will be most commonly used to trade efficiently. producers won't accept PAPER.

[slavmart]

Money is paper.

Gold is a metal, not a rock.

Diamond is a rock.

Metal is limited.

Diamond is now artificially made.

Paper is mass-produced.

Do you prefer to own metal, rock, or paper?

[hobo59]

Knowledge of survival techniques will be the only thing of value in the future. Precious metals and even land can be taken from you.

[freedomman121]

@UBER069 Yours is not becoming stronger. ALL of the fiat currencies are in trouble. Yours only look stronger when you compare to the US dollar because it so obviously bad, but your actual purchasing power and the comparison to gold have gone down. All of the Western economies are collapsing. They are doing it at different rates, with different peaks and valleys. This confuses some folks. As the US circles the drain, Canada will not be too far behind...

[forwhatitworth1]

The solution is simple. We should all stop being a nation of consumers. Skip a meal per week, dont buy any car with lower than 30 MPG, do not tax buying and selling gold and no capital gain or loss on its exchange with dollar in order to make gold a currency for saving.

[crabtrap]

@UBER069 such an ignorant comment . ""gold is worthless!!" ya whatever,i think 10,000 years of human history disagrees with you . try buying and storeing 20k worth of ANY other commodity but bring your dump truck

[Indigozek]

Then why don't people wear dull rock necklaces? It has other purposes too aside from aesthetics. Which is why it is, and always will be valuable. Not to mention the fact that gold cannot be created out of thin air, and can be easily measured. Money can be created, and has no real value behind it, aside from the paper itself.

[ceomeye]

complexity is control - lawyers, stupid jargon that does nothing but puts corporations and elite in power and the cattle at the bottom. The system is infected with disease.... all this crap is all disease and sooner or later its going to kill us if its not killing us already or killing the world. The U.S system is a fraud!!! THE U.S SYSTEM IS FRAUD BASED ON PIRATES AND STUPIDITY...

[ceomeye]

I'm going to tell you who the real national security threats are. Corporations are a national security threat to the stability of the United States and the rest of the world. These Elites and political secret society people are a national security to our health, livelihood, lives, and our future. Corporations as a national threat to children, nation, and state are our enemies. Think about it...Think.. They are our enemies. We have been hijacked...Think..

[nmreich]

Debt-based money system and fractional-reserve banking are the foundation of global fraud. And yes everything you wrote is built on top of that, including the Jesuits, Freemasons, Knights of Malta, Skull And Bones, etc.

[ceomeye]

well, fuk, what do you expect when elite corporations are driven by money and full deceit. The elite advice governments and is government who have been dumb down and is government who controls the rest of the cattle. Government gets dumb down and bought by corporations, the government oppresses the people based corporate control and greed, and the people become stupid, like the government. In turn they control all of us and the nation is open for marauders and spectators.

[Limeisback2012]

That asshole said that prices need to rise and salaries need to be cut. FUCK THAT ASSHOLE!

[BrainChild666]

$23.8 Trillion given away since the TARP act was passed!

$75,000 for each 300million americans...

that would have stimulated things!

BrainChild Out...

[PopcornforApocalypse]

Why are they smiling?

[DaveC86]

@UBER069

look at what happened in zimbabwe when their money became worthless, what were the people using as money? GOLD. because gold has all of the properties of the perfect unit of trade. you can't print 100 trillion gold bars over night, they have to be mined, which makes gold far more stable as a currency than paper money like the US dollar.

in a completely free market, im positive many people would quickly turn to gold as a way to trade goods and services.

[nordsman41]

My only concern about your statement is that there isn't enough gold in the world to spread around. Do you really think people will have gold flakes in their pockets to pay for goods and services...?

[Verlch]

Good news China is buying our debt. We don't have to monetize it any more hopefully.

Now we need to bring back the gold standard. And make the treasury coin money and set the value thereof, not the for profit FED. As per the US Constitution. Once again we can make the currency empower the people, instead of having the currency empower the State. Thus the door of tyranny, and the drunkenness of absolute power can be averted.

[Verlch]

@Verlch Also good news, whites are the minority of births in America. Soon we can expect affirmative action for all the white males that have been thrown under the bus the last 50 years.

[delyshBB]

@Verlch whites are a minority in south africa and they're not getting affirmative action. AA is simply a tool to equalize and since white people will always be more productive, AA will always be against them. simple as that.

[marniespeaks]

secede

[jhunted7667]

Listen up people !!!! in 1934 The Federal reserve had Roosevelt tell the mint to print $500.00 dollar bills , $1000.00 bills $10,000.00 even $100,000.00 dollar bills they never went into circulation because senators Glass and Steegal fought against it says inflation would run wild look at Zimbabwe , they say that the bills were printed to be used only by banks (Roosevelt confiscated all the Gold for this purpose they latter burned the large amount of currency.look in coin books if you don't BEL

[SergLLLL]

I left the USA, I do not miss it for a second. They told me in the USA for 20 years "USA: love it or leave it".

So I left! And never lokked back.

[SergLLLL]

They are holding foreclosure DOWN! There are people staying in their houses without paying for 3 years. FEDS / BANKS do not want to foreclose, everythink will collapse.

They prefer to keep the banks in business by giving them free 0% money.

The are criminals, they should be shot! And they will be eventually.

[TheSharpenedPen]

March 15, 2010 (Bloomberg) -- The U.S. and the U.K. have moved substantially closer to losing their AAA credit ratings as the cost of servicing their debt rose, according to Moodys Investors Service.

[Borrowing money to throw away on stimulus projects & bailout packages, was & is pure insanity. Keynesian economics dictates that spending money like this can reverse recessions. In every case, we see the opposite. John Maynard Keynes - communist child molester & failed economic theorist.]

[delatroy]

lol @ Faber @ 0:15 :D

[delatroy]

lol @ Faber @ 0:15 :D

[DaveC86]

@UBER069

i don't know who you think these 2 'salesmen' are.. but they had nothing to do with the financial collapse, they were both warning about the problems of the USA for a long time.

faber recommends you buy gold because the US dollar is going to be worthless, that means you won't be able to buy anything with it, but people will always accept gold as payment because it has real value.

[jhunted7667]

GOLD FEVER some years ago I bought a mining claim pay me in Gold and I'll sell it to you it;s in new mexico.... 60 arce claim

not far from where billy the kid would roam

[jamesarongray]

@TruthCracker oh its a hair piece

[jamesarongray]

@TruthCracker I haven't seen a comb-over like that in a while :)

[AJSensei]

I agree our government is filled with bone head politicians.

[73cupcake]

excellent posting. thanks.

[RightBrainSane]

great to see these 2 guys together...

[centervilletn]

Mish hits on a very important topic...people over 50 in deep debt...this is a historic first in America....there are very serious ramifications

[centervilletn]

the only thing we can do is stop spending money, stop paying taxes as much as possible...grow a garden,..neighborhood swap and trade days ...have neigborhood blackouts by turning off electric services 3 hrs a day.....and many other things you can do  to strangle the beast...

[Indigozek]

We have all the resources to create a free, abundant society. We have the technology for free energy, we can grow pure organic food, and we can build our own houses. People are just still stuck in the system though, and are unwilling to let go of an ego based monetary material based society, in order to bring about heaven on earth.

[centervilletn]

im with you on everything but "heaven on earth"..there was a time in America that people were self-relient for the most part...and money wasnt something that people saw much of...

[Indigozek]

Well, heaven on earth may be far fetched, but that is the ultimate vision. Currency will still exist, just not as something that can completely lose value or become electronic such as gold and silver. Unless you trade your silver for paper, which is how it started.

[Chainedorlo]

@centervilletn

And that was a time when everybody was poorer, despite some of the illusionary wealth that we're receiving, we are arguably better off. This doomsday talk doesn't mean it's the end of the world, just maybe the end of some governments. Which is a great thing in the long run.

[timetraveler3797]

@Indigozek we just need to live within our means, not borrow from the future.

[Indigozek]

There is no need to borrow when abundance is present. Abundance is possible, and scarcity only exists because of those who currently control the monetary system.

[wreagfe]

You are Amish?

[Indigozek]

Hopeful is a better word.

[solojam]

camp out in your backyard, everyone sell your houses and move in with your family

[centervilletn]

nah..just become a squater and make em throw you out...claim squatters rights...

[midnight9wanderer]

This idiot says 'when does it matter', like in other words, this idiots, and that means Shedlock in this case, defines 'when it matters' as when/what? we are deep in WWIII and everything is being rationed?.. why do people this clueless get any audience at all. This isn't about ending up 'not as well off as our parents', or 'might get bad in 3-5 years', we are fucking screwed NOW , morons!

[drutter]

Better title: "We're doomed and Washington caused it and continues to ensure we can't turn it around."

[Hendo1974]

@drutter Unfortunately, U are right, this will make the Great Depression of the 1930's as child's play in comparison, if u compare the data, u see we are in worse situation than the 1930's!

[jmjfanss]

America is dead to me.

[nmreich]

It's a sick world we live in. I sold my home in USA and moved out. I am now living debt-free and have a corn farm 100 meters away from my house (that I rent, not own).

[KhmerD0g]

u no longer living in the USA?

starting a new life in a different country is hard, unless u have a lot of money to begin with.

[nmreich]

Yep it's not so easy. Gotta do it all over, get a new driver's license, health insurance, dog license, etc etc. Moving was expensive. I hope I don't have to do that again soon! :)

[KhmerD0g]

what country did u move to?

[nmreich]

That information is classified, but I'll just say that it is a country just north of the border - a country with vast natural resources and sparsely populated. [wink, wink]

[Indigozek]

and mass amounts of beautiful cannabis?

[B0rnAl0neDieAl0ne]

@Indigozek no one is going to want weed once the poop touches then gets split in half and smashed into many little chunks by the fan. Seriously who is going to want to be lazy and hungry when your already hungry and trying to work for food.

[Indigozek]

Hemp/Cannabis is very valuable, and has other uses aside from feeling good. I dislike using cliche phrases, but research has shown that it actually promotes braincell growth and/or heals cancer. The "laziness" may not be laziness at all, but a realization that the many things we spend energy on, may not be worth it. Other resources are more valuable, but the benefits of cannabis are very clear.

[crabtrap]

""laziness" may not be laziness at all, but a realization that the many things we spend energy on, may not be worth it"

how do you explain endless hours of TV watching/videogaming by pot heads then?? surely an enlightened mind would shun the boobntube

[Indigozek]

People who don't use cannabis do the same thing. Just because people sometimes do unproductive things while high, does not mean that high people are unable to be productive. I am not saying that enlightenment is available through the use of cannabis alone. But I do believe that cannabis has psychological benefits that are not currently understood. You have to remember that it is a gift from our creator. If you do research, you will discover that there is nothing bad about cannabis.

[Indigozek]

not to mention the MANY uses that hemp has.

[nmreich]

By "natural resources" I was thinking more along the lines of food, oil, gold, silver, water, wood, and land.

[KhmerD0g]

i'm thinking about canada too. i also think about australia. i am sure they will accept me and my family. we are skilled people. my brother is a doctor.

i hope america will have a better government once USA collapses and we can start over.

[crabtrap]

whatever Canadia has the same amount of bullshit if not more,their police state is quite advanced and good luck arming yourself (save the "no crime" BS for the europeans ,i live an hour away from canada and there is crime and violence o'plenty . if the US crashes the Canadians nose dive!

[disturbed341]

what country do you live in now? If i may ask.