100% Chance' of Global Recession !
Matt
2012/06/30 12:27:27
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Thursday, May 31, 2012 04:15 PM
By: Newsmax Wires
Investors need to prepare for a global recession.
That’s the takeaway from one well-respected economist after his recent appearance on CNBC’s Fast Money Halftime Report.
According to Marc Faber, the author of the Gloom, Boom, and Doom Report,
a global recession is all but a certainty later this year or in early
2013.
When he was asked what sort of odds he put on a global recession
happening, the economist famous for his ominous predictions quickly
answered:
“100%.”
Faber’s pessimism during his recent appearance on CNBC wasn’t surprising for a man whose nickname is “Doctor Doom.”
What was surprising was his level of certainty that a global recession was coming.
Faber stated that there is a “meaningful slowdown in India and China”
that many investors are missing due to the media’s focus on Greece and
Spain.
He is also worried that the wealthy may be showing signs of spending fatigue after Tiffany’s reported slowing sales.
“There are more and more stocks that are breaking down — economic
sensitive stocks and companies that cater to the high end. That suggests
to me the economy is likely to weaken and the huge asset run is likely
to come to an end with significant asset deflation.”
Much more at the link provided.
http://www.moneynews.com/StreetTalk/Faber-100chance-recession...
Read More: http://www.moneynews.com/StreetTalk/Faber-100chanc...
Top Opinion
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D D 2012/06/30 16:39:22Things Are Going To Get A Lot Worse !
European-union is showing signs of failing because of its lack of free-enterprise, and America has gone "European-style" under Pelosi-Reid-Obama, so until we have a MAJOR new leadership in America, we will succomb to much of the same failings.
(Rhetorical question)
On a personal level, my income this year is higher than it has ever been with my monthly income being twice my expenses. Because much of this income is not work related, it means every month I work creates sufficient income to support me for 3 to 4 months. Other good news is that Phoenix area home prices are bouncing back with the median home price in May,2012 over 30% higher than in May, 2011. And since about 1/4 of my portfolio is in Phoenix real estate bought late 2008-2010, this has substantially increased my net wealth.
It is hard to understand all the doom and gloom. Sure Europe has problems....there is no doubt that some banks are likely to fail ... but every problem is also an opportunity. I just wish I were wealthy enough to buy Greek. Italian, and Spanish real estate. A villa on the Mediterranean would be a wonderful place to spend some time.
...
On a personal level, my income this year is higher than it has ever been with my monthly income being twice my expenses. Because much of this income is not work related, it means every month I work creates sufficient income to support me for 3 to 4 months. Other good news is that Phoenix area home prices are bouncing back with the median home price in May,2012 over 30% higher than in May, 2011. And since about 1/4 of my portfolio is in Phoenix real estate bought late 2008-2010, this has substantially increased my net wealth.
It is hard to understand all the doom and gloom. Sure Europe has problems....there is no doubt that some banks are likely to fail ... but every problem is also an opportunity. I just wish I were wealthy enough to buy Greek. Italian, and Spanish real estate. A villa on the Mediterranean would be a wonderful place to spend some time.
Sure big companies are laying off workers and big unions are losing power....and so the wage slaves are suffering. But America has finally passed Eisenhower's Health Care reform and the Supreme Court upheld it. Now someone suffering from asthma or other chronic illness can switch jobs without fearing loss of health care coverage. Soon a young person will be able to start their own business knowing they can get affordable health care insurance. No longer will people be stuck in dead end jobs simply to assure health care coverage for themselves and their families.
The only people I see suffering from this economy are those too afraid to take a risk on themselves; those who chose to be wage slaves working for a paycheck to pay interest to a bank....instead of embracing the American dream, paying off their debts, owning and mastering their own labor and means of production. Bottom line...it is a poor carpenter who blames his tools and if the tools you use are somebody elses, you do not control your own destiny....so be an American, start a business, and hire those poor saps who are afraid to take a chance and so want the government or someone else to guarentee them a paycheck. Sure some months will be better than others...sure there will weeks when you need to work 80 hours ... sure sometimes you will need to cancel a vacation at the last minute ... but you will be free, no longer a slave to that 9 to 5 grind ... no longer worried about getting laid off or unemployment insurance running out before you find another job.
"We are socialists, we are enemies of today's capitalistic economic system for the exploitation of the economically weak, with its unfair salaries, with its unseemly evaluation of a human being according to wealth and property instead of responsibility and performance, and we are all determined to destroy this system under all conditions."
It turns out this was said by Adolf Hitler in a speech of May 1, 1927 (Quoted by Toland, 1976, p. 306) We'll just add to this that May Day was also an important holiday in the Nazi Germany.
In addition, here are just some selected points of the NSDAP* Program composed by Adolf Hitler and Anton Drexler. They were publicly presented on 24 February 1920 "to a crowd of almost two thousand and every single point was accepted amid jubilant approval." (Mein Kampf, Volume II, Chapter I). Unlike Alva, we didn't have to resort to any tricks like substituting the name of an ethnic group with an ideology, etc.
What Obama has done is to prevent anybody from being able to fix anything.
Unless you want America to be just like Greece.
He has Geithner working the presses overtime printing enough dollars to hand the EU for our part of the bailout. By the time he's done printing, the dollar will be worth less than the peso.