I feel bad NYC but their economy is finished and we dont know what kind of draconian measures the government will do to try and stuff this crisis.
i watch faber for many years and he is good. also (very likely) he has more experience that anybody else here on ET. streetwise has obviously some personal problem.
Turning and turning in the widening gyre The falcon cannot hear the falconer; Things fall apart; the centre cannot hold -WBY
Why does this guy talk about wars and bombs? What is his logic and basis, does not make sense. Buying land makes sense in the way that one can do own farming and live off like a country nomad but other than that is he speculating RIOTS in the cities? I thought the man is a market reader not any psychic or future teller!
Faber trades. In the 1990's I worked for a financial firm that handled his accounts. Yes he has several hundred million under manangement.
Listen to what Erin said. In his report he was quoting "someone else" who said the SPX would fall to 500. Marc Faber never said SPX to fall to 500, he was quoting some else, get the facts straight !!!
fed = drug dealer like the analogy Marc http://www.youtube.com/watch?v=gMejqeqwQyU I really agree with Jim Rogers in that the Fed's days are numbered. The public is finally waking up and are pissed. Thousands of everyday citizens are writing their government letters and one day we will demand the fed be disbanded. So as i read all these doom and gloom threads i think to myself: Say we do have a financial meltdown and markets go down 60% and some traders have short positions on some s&p contracts or short positions in stocks, will they get paid? The books i read on the Great Depression mentioned shorts got paid but they were seen as anti-American and blamed for the collapse. I'm sure as traders we could sleep at night with the negative label but not getting positions honored is another thing.
TraderJOE LMFAO thanks for that! "Let them bitch about the shorts" Faber is so funny, just tells it like it is.