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| Subject: | Marc Faber: "Sometimes I don't Understand Markets…" |
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| Date: | Tue, 2 Aug 2011 05:33:00 -0700 |
| From: | Jas Jain |
Marc Faber: "Sometimes I don't Understand Markets…"
When asked about the US Treasury market on Bloomberg-Asia and the 10-Year yield below 2.75%. Now, why do you have to lie, Dr. Faber, since you have been wrong on the UST market for at least 8 years? If you had any shame you would apologize and let everyone know that you simply don't understand how the US Treasury market functions and what are the fundamental factors that drive it. Eight years of being dead wrong on something should be enough clue, no? Your assertion that US govt and the private sector, e.g., households, would inflate away their debt problem has proven to be a lie, thus far, no?
How many economists understand debt, Dr. Faber? Because of the debt burden, the US economy would be forced to deflate! In the future, when the Greater Depression is in full swing, those who are poor and get sick would be forced to suffer unless real charity helps them because govt would be forced to cut back on all kinds of welfare including sickness care. Maybe, the US would have a Nazi-like regime that would have no use for the old and the sick. One way or another the American society would be transformed into something very different than it has been since the WW II. Misery would become necessary to detoxify dopey minds about issues of taxation and welfare.
Watch whom you listen to and whom you can trust. Listening to Faber and Schiff on the US dollar and Treasuries would prove to be a big mistake.
Jas
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