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Faber: Market To Drop 20% Now, 50% Later, Complete Global Societal Collapse In 5 Years
CNBC ^ | 11-13

Posted on 11/13/2012 5:27:08 AM PST by ExxonPatrolUs

Dr Doom Video Link At Link.

(Excerpt) Read more at m.cnbc.com ...


TOPICS: Chit/Chat
KEYWORDS: doom; dr; faber

1 posted on 11/13/2012 5:27:18 AM PST by ExxonPatrolUs
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To: ExxonPatrolUs

Thats great news! Didn’t realize we had that much time to prepare.


2 posted on 11/13/2012 5:28:48 AM PST by Leep (Are you smarter than a 7th grade math student and or Barack 0bama?)
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To: ExxonPatrolUs

Thats great news! Didn’t realize we had that much time to prepare.


3 posted on 11/13/2012 5:28:56 AM PST by Leep (Are you smarter than a 7th grade math student and or Barack 0bama?)
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To: ExxonPatrolUs

Complete societal collpase? Not very far to fall....


4 posted on 11/13/2012 5:31:16 AM PST by central_va ( I won't be reconstructed and I do not give a damn.)
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To: central_va

Yeah, tell me when that happens and how it will look different that what we see now.


5 posted on 11/13/2012 5:34:52 AM PST by randita
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To: Leep

We’re getting closer and closer to the utopia all the little idiotic socialists in the world believe in - only it’s going to look different than they imagined. To paraphrase John Lennon -

“Imagine no ambition,
because you can’t achieve,
more than the state allows you,
of your dreams you’ve been relieved.”

When you take away the ability of individuals to distinguish themselves based on their effort, you take away their drive, their dreams, and essentially their humanity. If you want to do well in a society like that, try to set yourself up with some kind of under the table business selling alcohol or drugs. There will be a lot more consumption of those - as people while away their lives without a sense of purpose.


6 posted on 11/13/2012 5:46:33 AM PST by pieceofthepuzzle
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To: pieceofthepuzzle

“Imagine no ambition,
because you can’t achieve,
more than the state allows you,
and keeps you on your knees”

FTFY.


7 posted on 11/13/2012 5:50:06 AM PST by JCBreckenridge (They may take our lives... but they'll never take our FREEDOM!)
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To: central_va

Ever since the collapse in Fall ‘08, the future has become foggy, if not dark.

It’s been 4 years of this. I’m tired, I’m tired of pessimism, I’m tired of doom and gloom. I’m saddened for my kids whose future looks bleak as leaders have failed them miserably. There is no leadership, no quest or appetite to make the tough decisions to solve these problems that are/have become insurmountable. I’ve never been a hide in your basement and stock canned goods, doom and gloom, kind of guy...but I’m getting there.


8 posted on 11/13/2012 5:52:00 AM PST by BuckeyeGOP
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To: JCBreckenridge

Thanks! That is better - and accurate.


9 posted on 11/13/2012 5:57:03 AM PST by pieceofthepuzzle
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To: ExxonPatrolUs

The link does not go to an article.


10 posted on 11/13/2012 6:01:53 AM PST by MrChips (MrChips)
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To: ExxonPatrolUs

He’s been saying the same thng since 2009—and the market is up 60%. He eventually will be right.


11 posted on 11/13/2012 6:05:15 AM PST by SC_Pete
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To: ExxonPatrolUs

According to a recent WSJ article, the most recent fiscal year federal revenues approached the record collections of the last year before the meltdown. So revenue is not the problem. Spending is.

Here’s a little arithmetic lesson I give to liberals that pisses them off. The deficit is a $trillion. Welfare spending is a $trillion. Income tax collections last fiscal year were $1.1 trillion. Only a third of the welfare costs ever get to the intended beneficiaries. 2/3 of a $trillion got stuck in the hands of those who decide who is eligible, which doesn’t require much work, since everyone is eligible.

Our cities have spent themselves into debt to the point that they cannot afford to maintain civil order. Eventually, at these deficit levels, the feseral government will not be able to afford to defend us, and this glorious experiment in freedom and self rule will be over.

Now for the arithmetic. To make up the deficit with income tax revenues, income tax collections will need to approximately double. There are not enough rich people to even come close. That means that tax collections from the middle class will need to almost double.

A tax increase of that size would be so devastating to the economy, not to mention to the lifestyles of the upper middle class liberals, that even liberals politicians wouldn’t dare.

Faber may be right.

First and foremost, the tax increase on dividends and capital gains could trigger a selloff, as investors move away from dividend stocks and harvest their gains this year, while rates are still low.

In five years, sovereign debt will paralize government, and completely undermine civil order, as is already happening in Europe.


12 posted on 11/13/2012 6:06:33 AM PST by Daveinyork (."Trusting government with power and money is like trusting teenaged boys with whiskey and car keys,)
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To: randita

You should spend a little time in a third world country, you might get a slightly different perspective. We may be headed down that path, but we do have a long way to go...


13 posted on 11/13/2012 6:08:43 AM PST by Kozak (The Republic is dead. I do not owe what we have any loyalty, wealth or sympathy.)
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To: BuckeyeGOP
Well, let's see. I have wept for the country, but I have not yet taken full stock of my own financial affairs, so let's see . . . .

First, I will LOSE my health insurance. I have affordable catastrophic, which will be outlawed. And taxes within Obamacare affect certain stocks I own, which are declining in value now.

Second, I will not pay the penalty ascribed by the mandate, so I will become a "criminal" for my civil disobedience. They probably won't but they COULD come after me, my bank account, my house, etc.

Third. My house is for sale. I was anticipating a Romney housing rally that would enable the sale and allow me to buy a new place I have had my eye on. That is gone. The housing market will sour again.

Fourth, having lost my job (and group health) under Obama, I now work two part-time jobs. Are they secure? Not really, not now. And with no other jobs out there, the loss of one would mean I could not pay my mortgage. Hello bank. Goodbye equity.

Fifth, I have stocks . . . conservative ones mostly, but in a general market collapse, that would not matter. And I was really excited about Romney's proposal for the middle class to ELIMINATE taxes on dividends and capital gains. As I approach retirement (10 years), that was looking like a tremendous boon to me. Oh well.

Sixth, I commute, and my job necessitates a lot of driving. Gas prices will climb. I live in the deep South . . . the thought of my electric bill next summer (air conditioning) is frightening. (Seventh) I am too dispirited to do anything about it. I am tired of being tired (Romney's phrase), and now I just live under a giant, oppressive cloud. No, the sun will not come out tomorrow.

14 posted on 11/13/2012 6:20:55 AM PST by MrChips (MrChips)
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To: MrChips

Well there is still beer.


15 posted on 11/13/2012 6:24:40 AM PST by central_va ( I won't be reconstructed and I do not give a damn.)
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To: central_va

Yes, there is beer. Thank God! . . . and vodka, but it will all be Russian.


16 posted on 11/13/2012 6:27:21 AM PST by MrChips (MrChips)
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To: MrChips

See, you already feel better.


17 posted on 11/13/2012 6:28:54 AM PST by central_va ( I won't be reconstructed and I do not give a damn.)
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To: ExxonPatrolUs

HERE’s THE LINK: http://www.cnbc.com/id/44031717


18 posted on 11/13/2012 6:42:19 AM PST by MrChips (MrChips)
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To: central_va

Yeah! I do! This is cool! So I should drink all day, every day, right?


19 posted on 11/13/2012 6:44:10 AM PST by MrChips (MrChips)
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To: SC_Pete

“He’s been saying the same thng since 2009—and the market is up 60%. He eventually will be right.”

The difference is that in 2009, the Fed hadn’t been through two rounds of “Qualitative Easing” and starting a third.

When interest rates rise - as they will have to for anyone to finance our debt going forward - you’re going to see people get out of stocks like rats abandoning a sinking ship.

The market is driven by one thing: future earnings. When those tank, the market falls. No future earnings: no market. We’re all just the next quarter’s earnings report away from a crash.


20 posted on 11/13/2012 6:47:27 AM PST by Stingray (Stand for the truth or you'll fall for anything.)
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To: SC_Pete

Yep. Everyone involved has every incentive to keep the bubbles floating via hook, crook or fabricated numbers (and particularly the ChiComs).


21 posted on 11/13/2012 6:58:40 AM PST by Buckeye McFrog
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To: Leep

Yeh, I think thats pretty generous. I would not count on more than about 18 mos. Once the Euro comes undone look out Lucy.


22 posted on 11/13/2012 7:10:41 AM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: ExxonPatrolUs

Finally, the Zombie Apocalypse.


23 posted on 11/13/2012 7:27:08 AM PST by glorgau
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To: MrChips
Try this link
24 posted on 11/13/2012 8:01:27 AM PST by ExxonPatrolUs (The Ameritopian Motto: Gov The Sheeple, Buy The Sheeple, Bore The Sheeple)
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To: ExxonPatrolUs

Nothing new. Americans have been perparing since 1976 for society’s collapse. Remember in the 1980s when Kurt Saxon went on the Phil Donahue show and said not to store gold as it would also be worthless? He said store SEWING NEEDLES as these would be more valuable than gold after society’s collapse.

Some of us started preparing for this as far back as 1960.


25 posted on 11/13/2012 8:01:50 AM PST by Ruy Dias de Bivar (The parasites now outnumber the producers.)
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To: ExxonPatrolUs
His timeline is very optimistic. Go watch Ann's series of videos and you will understand why.
26 posted on 11/13/2012 8:42:40 AM PST by Disambiguator (America chose...poorly.)
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To: Stingray

I agree completely. QE is delaying the inevitable and when it happens t will be worse. The market is overbpriced becasue of QE. On the otherhand, I believe we are on the verge of an energy driven renaissance that we have not see since John D. Rockefeller started shipping 60 carloads of kerosene a day on Vanderbilt’s railroad. AMERICA EXPLODED. It can happen again.


27 posted on 11/13/2012 9:16:29 AM PST by SC_Pete
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