Posted on 10/15/2013 1:20:12 PM PDT by Kaslin
Marc Faber, publisher of the Gloom, Boom & Doom Report, told Tom Keene and Sara Eisen on "Bloomberg Television" today "there is no safe haven. The best you can hope for is that you have a diversified portfolio of different assets and that they don't all collapse at the same time."
On the debt ceiling debate in Washington, Faber said, "It's basically a dysfunctional government that we have that is far too large that is essentially wasting money left, right and center. The Republicans are wasting money on the military complex and the Democrats are basically buying votes with transfer payments, with entitlement programs, it goes on. It is a huge waste. The problem is that I don’t see a solution."
(Excerpt) Read more at finance.townhall.com ...
we’ve been spending $3.5 trillion yearly...
the entire dept of defense costs $680 billion/yr
meanwhile, we’re spending 65% of the budget, or $2.4 trillion, on entitlements
just the facts...
This goes back to Landslide Lint'n, and to the fact that Rocky felt so entitled to the Republican nomination that he and the rest of the Coupon-Clipping Wing torpedoed the honest and patriotic Barry Goldwater and handed Lint'n the White House (which he never deserved .... presidential politics had always been about keeping people like LBJ out of the White House, courtesy of the Adults in the Room in each party).
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