You need to blame the neocon spawn that came out of the Reagan adm. Reagan's deregulation helped in all areas, except for banking which has come back to haunt us. Derivatives, however were not created under his watch. I do not think he would be happy with the aftermath. As far as bin-Laden, that is a Bush family gift exclusively.
It is more likely that the value of Marc Faber's collection of Mao Zedong memorabilia will go to zero.
All of the "pundits" have discovered that drama sells. Add that to the fact that most are clueless regarding markets and that even those who have a clue (Faber has more than a clue) make five and ten year predictions with more certainty than we would making a five day prediction off a daily chart. They know the out years are a guess as to magnitude if not direction. THAT SAID, lol, I think there are few among us that would dispute the basis for his comments. The dollar and many other paper assets are being devalued at an incredible rate. We may have a deeper recession before this is all over or even a depression and the dollar may benifit from a flight or even flights to "safety". But through it all there will be classes of assets that will inflate and eventually the paper will begin to sink like a stone.
Many critics of reducing taxes claim that the Reagan tax cuts drained the U.S. Treasury. The reality is that federal revenues increased significantly between 1980 and 1990: - Total federal revenues doubled from just over $517 billion in 1980 to more than $1 trillion in 1990. In constant inflation-adjusted dollars, this was a 28 percent increase in revenue.3 - As a percentage of the gross domestic product (GDP), federal revenues declined only slightly from 18.9 percent in 1980 to 18 percent in 1990.4 - Revenues from individual income taxes climbed from just over $244 billion in 1980 to nearly $467 billion in 1990.5 In inflation-adjusted dollars, this amounts to a 25 percent increase. -Raystonn
Been cruising this site for a few months and I had to register just to say "thanks" for making my day with this line. Nicely put.
If you have been of the opinion for years now the USD is going to totally crash at one point during our lifetime why whould you change your opinion just because the internet crowd thinks your song is getting to sound old?
It is just at the point when it seems to be old and tiresome that the collapse is about to appear on the horizon. Big events set up in big ways over extended periods of time. Your song is not old it is a classic.