We’re at the tail-end of a massive asset inflation and the economy is 8 years into a weak recovery – long in the tooth!
Jason Burack of Wall St for Main St interviewed returning guest, editor & publisher of the Gloom Boom Doom Report, Dr. Marc Faber.
Marc has decades of experience investing in global financial markets and he has wrote the book, Tomorrow’s Gold- Asia’s Age of Discovery.
During this 30+ minute interview, Jason opens the interview by asking Marc about how he thinks China will deal with the massive debt problems its state owned banks and municipalities have?
Marc jokes about Jason asking the Chinese government instead of him. Jason then asks Marc about what Kyle Bass is saying about China. Marc says the US mainstream financial media and Federal Reserve are talking about how bad things are in China and Europe to deflect attention from the US’ debt problems.
Next, Jason asks Marc how much global central banks are coordinating their policies and doing market manipulations and market manipulations together?
Marc says he thinks there’s no such thing as currency wars and that the US, UK, Japan and the ECB all coordinate monetary and interest rate policy together so they can take turns doing QE and devaluing their currencies.
Marc and Jason discuss where negative i9nterest rate policy or NIRP fits into the equation.
Jason asks Marc about the recent bear market rally in oil and base metals. Marc thinks the rally will sputter out soon and oil will go back down in the near future.
Marc also gives his thoughts on the 2016 US presidential elections.
Jason also asks Marc about gold, gold stocks, bad government economic data and where he sees value in markets so don’t miss listening this great interview!
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TND Podcast Spotlight: Rory Hall, The Daily Coin
I had the good fortune to sit down with Dr. Marc Faber, Economist and Market Forecaster, publisher of GloomBoomDoom Report to discuss the current state of economic affairs from a global perspective. We touched on the failures and criminality that have become U.S. economic policy and how this is impacting the rest of the world. We also discussed how the Eastern world is rapidly taking over every aspect of commerce, finance and economics the world over.
The economic situation we find ourselves is very delicate at this time. We have major economies, like the U.S. and Europe, that are either at a standstill or in a full blown recession/depression. It really depends on which set of numbers one uses as a guide. Most of the government statistics are either “massaged” or simply made up to fit the political agenda of the day. With this being the case, on a global scale, it is difficult to know exactly what is happening in our economic and financial worlds. The truest measure, for me, is when I go to the grocery store and my weekly food/household items have, once again, gone up. Or when I receive a notice from my private insurance carrier stating that my premium will be going up by 42% on January 1 and the deductible will be rising by 12%. These numbers don’t lie about the reality of our current situation. I believe 42% inflation could be considered hyperinflation or just below. I’m not an economist, as Dr. Faber is, but I know that 42% inflation is unsustainable for most people.
Dr. Faber gives us a brief history on the heartland, which is the land mass between Russia and China. This is the coming global economic force that is being built right in front of the world and no one notices. What will this mean to the Western world? How will the alliance of the Shanghai Cooperation Organization (SCO) and the EurAsian Economic Union (EEU) impact your neighborhood? These two economic unions have formally announced they will begin working more closely together and developing strategies for future business. The SCO alone will encompass approximately 45% of the global population and 70% of the global natural resources. Once you combine these staggering figures with the populations that are currently under the EEU umbrella along with the natural resources, you can see pretty clearly this will have a direct impact on every country, every citizen the world over. The resources and population are going to make an impact on commodity prices and the cost of raw materials. Once you combine these realities with the fact that China and India are, basically, the global manufacturing centers, the picture changes and one can see that the Western world needs to put their weapons down and begin making an alternative plan for the future. The Western world can no longer afford to have war as their business model. The Eastern world does not need to fire a shot in order to bring the West to it’s knees. The East will simply continue creating all the wealth which will make the West to weak to fight back. The West has become it’s on worst enemy.
Let’s listen in to Dr. Marc Faber and get an idea of what all this means.
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