Posted on 05/25/2016 10:50:06 PM PDT by vannrox
Publisher of the Gloom Boom & Doom Report Marc Faber spoke with FOX Business Network’s (FBN) Neil Cavuto about the realistic possibility of the market collapsing before November saying “Most people haven’t really made any money over the last 12 months or even two years because the market is down over the last 12 months.” He continued saying “the economy is stuck,” and “That’s why you have people like Trump and Bernie Sanders having such an appeal. Otherwise if the economy was very strong, they wouldn’t essentially be contenders for the presidential election.”
On the impact the economy has had on the presidential election:
“Most people haven’t really made any money over the last 12 months or even two years because the market is down over last 12 months. The typical stock is down significantly. So they’ve actually diminished their activity in stocks. The economy is stuck. Manufacturing is no longer growing, and the service sector and employment is growing, but not with great paying jobs. And so the typical family is actually not doing well. And that’s why you have people like Trump and Bernie Sanders having such an appeal. Otherwise if the economy was very strong, they wouldn’t essentially be contenders for the presidential election.” On the Fed announcing that there was a likelihood they would increase rates in June:
“I think from the Fed’s perspective this was actually a smart move. Because then they could watch the market reaction. As the market didn’t sell off meaningfully, the Fed may move. I don’t think they will move, because within a month’s time even they – who seem to be the one-eyed leading the blind – I think they grossly overestimate the strength of the U.S. economy.”
On the risk of building a bigger bubble:
“We have already a gigantic bubble. That should be clear. If they increase rates, we will see what happens. My suspicion is that markets can also go down without rate increase. In Japan there haven’t been any rate increases for ages and rates came down, the markets came down. Liquidity can tighten, even with ultra-low interest rates as Milton Friedman observed.” On Hillary Clinton becoming president:
"The worst fear I have is that Mrs. Hillary Clinton will become president. That is my worst fear. I would vote for anyone in the world, including you [Neil Cavuto] and Trump before I would choose Hillary Clinton. She’s dishonest, she’s a liar and she has deceived people and is a very questionable character. And this has been all documented. I think the markets would sell off 100% if Hillary Clinton becomes president of the U.S. I don’t think that Mr. Trump is the most desirable future president of the U.S., but none of the other candidates were. Actually, I like Bernie Sanders.”
A fearful prospect, indeed.
Think the country is in the toilet now?
Just let Hillary and her minions take charge for four years.
It isn’t if but when we collapse. The Feds just lit the match with higher interest rates. I want Trump at the helm when it collapses.
deer season is coming up
Nobody will admit the economy is in ruins.
After dissing Trump, like all good bien pensant’s do, Faber says: “...actually, I like Bernie Sanders.”
That comment, right there, blew every bit of any credibility the guy might have had totally and completely away and for all time.
I have yet, to this day, recovered any respect whatsoever for Karl Denninger’s judgment and prognostications, regardless of how often it may have been proven right, because he was in the Hussein camp in 2008, because, (you know the line) things were so pathetically bad under Dubya that Hussein was the only viable alternative (or so the line went). Anyone, and I mean anyone at all, that ever supported Hussein for any reason, ever, is persona non grata with me. It looks like Faber has yet to learn his lessons.
In this Marc and I totally agree
He personally likes Bernie because he’ll collapse the dollar the quickest and Farber’s gold holdings would skyrocket.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.