Skip to comments.Obama Is A Disaster, The Market Should Have Fallen 50%, And You Should Buy Yourself A Machine Gun
Posted on 11/07/2012 6:20:29 PM PST by blam
MARC FABER: Obama Is A Disaster, The Stock Market Should Have Fallen 50%, And You Should Buy Yourself A Machine Gun
Nov. 7, 2012, 6:22 PM
A classic Marc Faber interview on Bloomberg TV.
You can watch the video here.
Here's a partial transcript
Faber on President Obamas reelection:
I am surprised with the reelection of Mr. Obama. The S&P is only down like 30 points. I would have thought that the market on his reelection should be down at least 50%...I think Mr. Obama is a disaster for business and a disaster for the United States. Not that Mr. Romney would be much better, but the Republicans understand the problem of excessive debt better than Mr. Obama who basically doesn't care about piling up debt. You also have in the background Mr. Bernanke, who with artificially low interest rates enables the debt to essentially escalate endlessly.
On where he sees the equity markets given Obamas reelection:
You have offsetting factors. The problem with Mr. Obama is that you get more regulation and its disincentive for businessmen to hire people. You probably also get higher taxes, so in terms of the economy, he is very negative in my view. But you still have Mr. Bernanke, and you still have because of money printing very high corporate earnings. They are now coming down, but they are still at the elevated level. You have money printing supporting the market and on the other hand, you have an economic slowdown globally which will affect earnings negatively. It is difficult to tell where the market will go because we have so much manipulation. I think, minimum, it will drop 20%.
(Excerpt) Read more at businessinsider.com ...
Is Obama more of a curse or a disaster?
The hardest hit State from the drought this past summer was Illinois. Hurricane Sandy smacked right into DC and the area around it. Now we have Nor’easter Athena smacking the NE again. A coincidence? Maybe not.
The Dow Jones industrial average is down 2 percent, putting it on course for one of its worst one-day drops following a U.S. presidential election. The biggest, in 2008, came in the midst of the financial crisis on the day after President Barack Obama won his first term.
Interesting that the MSM states it was the SECOND BIGGEST DROP after an election.
THEY DIDN’T MENTION THAT IT WAS OBAMA’S ELECTION IN 2008!!
lolol. This is the kind of headline I send to friends for laughs.
For the first time in my life I truly fear for my children’s future. The takers are now fully in charge and I fear this was the tipping point.
I hope my attitude changes in the coming months.
God bless the late great USA.
Today I closed my account at E trade, and canceled my subscription to the WSJ.
Today Republicans/Conservatives need to run away and turn off Hannity, O’Reilly, Morris, Coulter, and Huckabee and run with the Glenn Beck crowd...at least they aren’t as off the hinge YET as the Alex Jones crowd.
Run from Rove, Fox News, and the establishment media.
Stick with Mark Levin and Beck. They are the only 2 left who will tell us the truth.
Maybe this will help. (Read the comments.)
I bought another handgun today. S&W Plum cute.
I could not agree more. I have Dish and had only Beck on today. No FOX. I am done. Levin and Beck. By the way, I am John Galt.
The crows can have the rest.
Correct. The investment plans that Beck is now pushing ahead on a year early will be over an estimated 7 million out of pocket. He mentioned his international set up which will run 4 million a year...3 million for the other projects.
He really needs to reach out to Dennis Miller to broadcast his radio show on there as well and air it later in the day or night. Bring in Hollywood investors like Voight, Robert Duvall, Eastwood, Ted Nugent, Trace Adkins, Kelsey Grammer etc...he said he is opening up a slot for a limited amount of investors in the network and refuses to have The Blaze in any debt at all. Also, NO blog style news aggregation...real hard news division.
He said he also needs to double up yearly memberships on The Blaze to be able to afford to do half of the projects he has on the table in planning stages.
Very exciting. Your ideas are great. Send them to him. I am doing my part. I became an internet member of the Blaze back when he started his network. I am now paying a little extra to Dish for his network, totally worth it.
But I retained my monthly membership for the on line version to help him out.
I had America’s Top 250 anyway so I get him on Dish without having to do the upgrade. I know he is ready to unleash 3 new programs in December to add to the line up which will be refreshing...it is in total start up mode as you can see. Last night was so minor league but I give him and the crew all the credit for doing it at all.
I believe you will find people running from Fox News to The Blaze as well as soon as he hits cable which is scheduled for Jan and February.
I was not a paid Blaze member but I will go over and join tonight and do my part as well. I would rather support places and people like FR and Beck than anything the GOP or anyone else is pushing. I am not even supporting the Tea Party Express any longer. Freedom Works will get my dollars.
Boy, you and I are right on the money. It is only 9.95 for the web Blaze membership. I kept it on The Blaze all night last night, not one minute of FOX. I also contributed a good amount to Freedom Works, they are doing really good work. I am also going Galt. No extra shopping for anything. We are not purchasing gifts for Christmas. Family gatherings and church.
I am not helping this douchebag in the WH with the economy, no way.
LOL! Thanks, blam, for the funniest title that I’ve read in some time.
There are things to buy for protection, guns work if you think we’re in for civil war.
If you understand the war we’re in globally is slavists vs freedom, and the way your wealth wlll be stolen is inflation, there are 2 stores of wealth. (gold/silver/platinum), silver is a better longer term bet as it has a higher industrial demand, or raw land. Both types are inflation protected over the long term. being non fiat currency assets with low inventory increase possibilities, the supply demand curve opportunities are favorable. I personally don’t like metals, easily stolen, and if any gov gets a clue, there is a high prob of extreme volatility to the down side.