Faber and Mish – We’re Doomed and Washington Can’t Do Anything About It:

Washington is patting itself on the back for having orchestrated an amazing economic recovery. But Washington lawmakers are a delusional bunch of boneheads, say Marc Faber and Mike “Mish” Shedlock, editor of the Gloom, Boom, and Doom Report and investment advisor at SitkaPacific Capital Management, respectively.The economy is NOT recovering, they say, and the U.S. faces a depressing “eventuality” of either crushing deflation (Shedlock) or runaway inflation (Faber). The timing and type of this eventuality is uncertain, say the gurus, but they are certain it’s too late for America to change course.”It’s beyond repair — it’s too late,” to avert fiscal disaster, Faber declares.Mish agrees: “The day of reckoning has arrived. The question is how long it takes to play out.”This grim outlook doesn’t mean you’re helpless. Faber recommends individuals prepare for doomsday by buying gold, owning assets abroad and buying property outside of major cities.

Vodpod videos no longer available.

Advertisements

Jim Rogers Says, Gold Will Hit $2,000 and USA Will Lose Status As The World’s Reserve Currency

Good Time To Buy Gold

Good Time To Buy Gold

Famed investor Jim Rogers is “quite sure gold will go over $2000 per ounce during this bull market.”Rogers’ confidence gold will continue to rally stems from a view the U.S. dollar is on its way to losing status as the world’s reserve currency.”Is it going to happen? Yes,” Rogers says. “I don’t like saying it [and] I’m extremely worried about it but we have to deal with the facts. America is not getting better [and] the dollar is going to be replaced just like pound sterling [was].”Rogers didn’t offer a timetable, and it’s likely gold would exceed $2000 per ounce if the dollar were to lose its reserve status.Still, “I wouldn’t buy gold today,” Rogers says. “I think I’ll make more money in other commodities, which are cheaper,” as discussed in more detail here.Among many others, Rogers is “worried about the fact the U.S. government is printing huge amounts, spending gigantic amounts of money it doesn’t have,” the investor and author says. “People are very worried [and] skeptical about paper money [and] looking for places to protect themselves. The best way is to buy real assets. [That] has always protected one during currency turmoil, and it will again.”

Vodpod videos no longer available.

more about “Jim Rogers Says, Gold Will Hit $2,000…“, posted with vodpod

Marc Faber Is “Highly Confident” the Future Will Be Very Bleak: See Video on Tech Ticker – Yahoo! Finance

“The future will be a total disaster, with a collapse of our capitalistic system as we know it today, wars, massive government debt defaults and the impoverishment of large segments of Western society,” Marc Faber writes in the September issue of The Gloom, Boom & Doom Report.A statement like that pretty much speaks for itself, but it’s a bit more complicated than appears on first blush.Faber has been bullish — especially on commodities and emerging market stocks — for some time now and believes the current global recovery trade will last another two-to-three years, as discussed in more detail in a forthcoming clip. But he has major long-term concerns about the dollar’s long-term viability given rising U.S. deficits, massive unfunded mandates and the fact “we have a money-printer at the Fed.”This combination will eventually lead to runaway inflation, wholesale debasement of the dollar, and a major lowering of living standards for most Americans and many Europeans as well, says Faber, who is “highly confident” in this grim prediction.

Vodpod videos no longer available.

Buy Stocks Because U.S. Dollars Will Be “Worthless” Says Marc Faber

Marc Faber, editor of The Gloom, Boom & Doom Report is, by his own account, “ultra-bearish” on the long-term fundamentals of the U.S. market. (Discussed in detail in this clip.)However, in the near term, Faber sees plenty of money-making opportunities in stocks. Sure, prices aren’t as cheap as they were in March, yet he’s confident, “in this environment cash will become worthless.” As a result, he says investors are, “better off being in equities,” for the next two to three years.Faber is most bullish on mining and energy companies. He recommends: * Newmont Mining and FreeportMcMoran as relative inexpensive. He also mentions Nova Gold, as another, more speculative buy. * In a contrarian call, on natural gas, he says Chesapeake Energy will be a winner when prices eventually rebound. * Oil giant ExxonMobil is another stock he thinks offer good value.Outside of that, Faber says buying large-cap pharmaceuticals like Pfizer and Johnson & Johnson offer good defensive options.Finally, he suggests U.S. airlines are poised for a rebound. If that happens, international airlines will follow and Thai Airways stock could double.

Vodpod videos no longer available.

Marc Faber – Emerging Market Economies Will Challenge and Surpass the West

Marc Faber has an informal rule never to spend more than 10 days in a country before rushing to the next one. In addition to lots of frequent-flyer miles, this gives him the chance to see firsthand how lots of the world is doing.So how’s it doing?Better than the U.S., says Faber, the editor of the The Gloom, Boom & Doom Report.In the U.S. we have a “structural unemployment” problem. We have a debt problem. We have an economy-propped-up-by-frantic-government-spending problem. And, by in large, while the rich get richer, the middle class does not benefit, especially during the boom days earlier this decade.The rest of the world has problems, too, of course, Faber says, but they’re not as bad as ours. He’s observed businesses in emerging markets in Asia are less vulnerable to market fluctuations because they tend to be cash rich, and therefore less reliant on debt and leverage. He also says there’s a hunger and competition, in countries like China and India, that’s missing in the U.S.So go ahead and enjoy the “v-shaped” recovery while it lasts, says Faber, who has already fled to Hong Kong.

Vodpod videos no longer available.

Marc Faber – America Already Has Way Too Much Debt

Ken Fisher’s argument that America is “under indebted” and that more debt will be a global phenomenon in the next 10-20 years raised a lot of eyebrows last week – and quite a few catcalls in our comments section.Fisher may be technically right — that there’s appetite for more U.S. debt, but Marc Faber, editor of The Gloom, Boom & Doom Report, scoffs at the idea that it would be healthy or smart.More debt “comes at the expense of a falling dollar…and much higher inflation rates in the future,” says Faber, who notes the U.S. has total debt-to-GDP ratio of 375%, “excluding contingent liabilities from Medicare and Medicaid.”Perhaps more important than absolute debt levels, Faber says much of America’s debt has gone to pay for unproductive things like golf courses and big houses and investments with Bernie Madoff.Meanwhile, emerging market economies, in Asia particularly, have much lower debt levels and have used leverage to pay for modernization of factories and educated workers when they’ve used debt, Faber says.”The Western world is overleveraged,” he says. “We’ve mortgaged the future and our children will have to pay for that somehow.”It is for these and related reasons that Faber is “ultra-bearish” on the dollar and much more optimistic about emerging market economies, as discussed in these earlier segments:

Vodpod videos no longer available.