Faber - Odds Of Recession 100%

Discussion in 'Politics' started by pspr, May 26, 2012.

  1. pspr


    I'm not a big fan of Marc Faber but a 100% call for a recession is something to take note of. An October skid would dump Obama in the drink just like it did John McCain.

    “I think we could have a global recession either in Q4 or early 2013." When asked what were the odds, Faber replied, "100%."

    However, in the near term Faber also sees potential for a market rally.

    Faber said the bullish catalyst would be Greece exiting the EU.

    It’s worth noting that Faber is talking hypothetically; he does not think Greece exits the EU in the near future.

    “What I think will happen is that Germany will show more flexibility and issue more euro bonds.”

  2. Sounds like the odds of Marc Faber enduring a personal income recession due to opening his big mouth is near 100%. Some things will not go over well with the P.C. crowd and are best kept to yourself if your primary business is marketing financial topics.

    Marc Faber, author of influential 'Gloom, Doom, and Boom' report, says 'thank God white people populated America, not the blacks'

    Marc Faber, the über-bearish author of an investing newsletter who frequently appears as a guest on financial TV, wrote in his latest "Gloom, Doom, and Boom" report that he was glad the US "enjoyed 200 years in the economic and political sun under a white majority."

    In the October edition of his report, which is available only in print and was seen by Business Insider, Faber focused on the economic policies of major governments.

    In a section of the report discussing "Free Markets and Capitalism Versus Socialism," Faber variously decried the tearing down of Confederate monuments as well as what he called the "liberal media" and New York City's "righteous socialist" mayor, Bill de Blasio.

    Faber said contemporary society focused too much on issues like the monuments rather than on issues such as the growing amount of outstanding debt and "unfunded government pension liabilities." The report then went into an aside regarding his thoughts on the Confederate monuments.

    From the report:

    "I don't want to enter into a serious discussion of the tearing down of monuments of historical personalities, but I cannot omit mentioning how the liberal hypocrites condemned the Taliban when they blew up the world's two largest standing Buddhas (one of them 165 feet high), situated at the foot of the Hindu Kush mountains of central Afghanistan, in 2001. But the very same people are now disturbed by statues of honourable people whose only crime was to defend what all societies had done for more than 5,000 years: keep a part of the population enslaved. And thank God white people populated America, and not the blacks. Otherwise, the US would look like Zimbabwe, which it might look like one day anyway, but at least America enjoyed 200 years in the economic and political sun under a white majority. I am not a racist, but the reality — no matter how politically incorrect — needs to be spelled out as well. (And let's not forget that the African tribal heads were more than happy to sell their own slaves to white, black, and Arab slave dealers.)"

    Faber confirmed to Business Insider that the report was authentic.

    "I am naturally standing by this comment since this is an undisputable fact," Faber said in an email.

    In a follow-up email, Faber further defended the note: "If stating some historical facts makes me a racist, then I suppose that I am a racist. For years, Japanese were condemned because they denied the Nanking massacre."