Faber Warns “Everything Will Collapse”
Famed economist Marc Faber appeared on Bloomberg TV with a harsh, direct warning to investors.
“U.S. monetary policies will destroy the world,” he said, referring to the new round of stimulus – QE3, or “QE Forever” – the Fed plans to launch this year.
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Faber’s not alone.
A group of his economic peers agree that with more central bank action like QE3, global economic collapse is imminent.
In a newly released documentary that went viral last month, a team of influential economic experts say they have discovered a “frightening pattern” they believe points to a massive economic catastrophe unlike anything ever seen.
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“What this pattern represents is a dangerous countdown clock that’s quickly approaching zero,” said Keith Fitz-Gerald, the Chief Investment Strategist for the Money Map Press, who predicted the 2008 oil shock, the credit default swap crisis that helped bring about the recession, and the Greek and European fiscal catastrophe that is still wreaking havoc until this day.
“The resulting chaos is going to crush Americans.”
Another member of this team, Chris Martenson, a global economic trend forecaster, former VP of a Fortune 300, and an internationally recognized expert on the dangers of exponential growth in the economy, explained their findings further:
“We found an identical pattern in our debt, total credit market, and money supply that guarantees they’re going to fail,” Martenson said.“This pattern is nearly the same as in any pyramid scheme, one that escalates exponentially fast before it collapses. Governments around the globe are chiefly responsible.”
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And Now Comes A HUGE Week For The Economy And The Election
Get lot and lots of rest today.
This first week of October is going to be HUGE from both an economic
standpoint.
First, here’s an abbreviated version of what’s coming up. These bullets are courtesy of Dave Lutz at Stifel, Nicolaus:
- Chinese Markets closed for Golden Week
- Central Bank
Decisions from Aussie, BOE, ECB and BOJ - Big Ben speaks, and the Minutes from the September meeting
- Global PMI Data – China, EU, UK, USA
- September Auto Sales and Retailer Same Store Sales
- US and EU Employment reports
- A Big Spanish Bond Auction
- Value Investing Conference – Major HF speakers
- European Banking Authority – final report on capital plans
- The First debate between Gov. Romney and President Obama
Now, here’s the full schedule:
MONDAY: It’s global PMI day. So starting late Sunday night in the US, we’ll be getting critical manufacturing reports from Asia, and then Europe, and then of course the US, concluding with the US at 10:00 AM ET. Also at 10:00 AM ET we get Construction Spending for October. There’s also going to be a monetary policy speech by Bernanke, a speech by the head of the SF Fed. At the Value Investing Congress, Bill Ackman, Whitney Tilson, and other swill present picks.
Five Mainstream Economists Sound a Warning
The Wall Street Journal ran an article the likes of which I have never seen. “The Magnitude of the Mess We’re In.” It was written by five well-known economists. It warns readers about a series of highly destructive outcomes of the federal government’s present fiscal policies. The article says that these problems are close to being unmanageable.
The first economist involved is George Shultz. He taught at the University of Chicago and MIT. He served as the Secretary of the Treasury under Nixon and Secretary of State under Reagan. He served as the Head of the Office of Management and Budget under Nixon, and also Secretary of Labor under Nixon. I can think of no other economist with comparable experience at the highest level. He is an insider’s insider. He is 92 years old – a true elder statesman
The second economist is Michael Boskin. He teaches at the Hoover Institution. He used to teach at Stanford. He was the head of the Council of Economic Advisers under the first Bush. Then there was John F. Cogan of Hoover and Stanford. Then there was Allan Meltzer, who is the most respected historian of the Federal Reserve System. Finally, there was Stanford’s John Taylor, of “Taylor rule” fame, one of the most respected academic economists in the USA.
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Prepare for a dismal earnings season: The U.S. earnings season is set to begin on Oct. 11
Analysts are getting downright bearish as the third-quarter earnings season approaches. Data from Thomson Reuters shows analysts are expecting a 2.2% quarterly drop in earnings by S&P 500
companies, which would mark the first decline in profits since the first quarter of 2009.
The U.S. earnings season is set to begin on Oct. 11, when analysts expect Alcoa Inc. will report a 94% drop in profit. If the aluminum giant reports even worse numbers, it will set a dismal tone for the rest of the season.
Analysts are currently a little more optimistic in Canada, forecasting flat earnings growth, but Peter Buchanan, a senior economist at CIBC World Markets, expects more downward revisions could be on tap before Canadian companies start reporting their numbers.
Even layman predicted this with the first QE1. Some of the people went into survival mode and are now considered criminals against the State. All of a sudden we have “Zombie Apocalypse” fear, H-K hit lists, NDAA and privacy violations with the current Administration that are unprecedented in U.S. history. A debt that very few have even the slightest grasp of the enormity. Add the restless “Entitlement” crowd, failing infrastructure and mindless greedy psycho-drugged citizens, we have a nation that will destroy itself, if not the entire world. Some attempted to make others more “aware” and get beat down for their efforts. All there is left to do, is to watch the madness consume what’s left. Those that remain will be hardened and hollow.
Sorry, I seem to have a knack for finding the worst of the bad news out there.
Bad news is better than some elitist suit blowing pixie dust out his azz and telling me how my future is so bright I got to wear shades.
Truth is sometimes painful, but gives one solid ground to build on. And build, we shall; it won’t be based on some TV reality show theme.
If all of you don’t know what is coming down the road you then deserve to be run down……. you are like a deer facing the headlights of a car and doing nothing.
Be sure to keep ALL your money safely in the bank, RJ.
The only thing that can save an individual is ownership of gold and silver…well, that plus being short the equity markets. Before the meltdown is complete, precious metals will soar to levels that most cannot even comprehend right now. The other day Goldman predicted that gold would hit $2200/ounce, and the mainstream went crazy over their “wildly bullish” prediction. What most have no clue of is that $2200/ounce will still have us in just the early innings of the ball game.
Remember this prediction; gold is headed to $20,000/oz and silver $450/oz.
By this time the US will be on fire and WWIII will be a reality.
We have global leaders in government that actually “want” this to be our reality…because it matches with their end game whack job religious views. The insanity is breath-taking…
When the Dow hits 2000 we will be close to a bottom…but possibly only close. Prepare yourselves, your families, your businesses and your communities. Only by doing so will you ensure your survival…and at the same time become truly wealthy.
I know exactly what you mean, RJ. Bernanke is going to handle this with expert skills and know-how. And Obama, well, he’s got our back. He won’t let anything like this happen to US. I mean, just look what he has done thus far. Even the poor have cell phones. Just imagine how bright the future is going to be for people who aren’t digging thru dumpsters for food to eat. Now, congress is an entirely different story altogether. They work to make America more free. And that’s why I really respect them. Furthermore, the Supreme Court is there to “interpret” the laws. That’s another backstop for economic ruin. SCOTUS, POTUS and Congress along with the FED is going to make everything work out in the end. Now I’m really getting tired of these “doom & gloomers” who like to spend their time trying to frighten us. At least you and I know better. We need to stick together on this one. In fact, the first round is on me (if I can ever find a job) when we celebrate the fact that this didn’t happen. I’m really glad that you took time out of your day to post that incisive, yet devastating blow to these pseudo-economists. After all, what do they know?
I’m assuming your comment is pure, unadulterated sarcasm.
If not…………..
Pity.
Camp FEMA awaits.
Mr. Willaims,
I respectfully invite you to turn off your television, stop reading the newspapers and magazines for a month and just begin to do some genuine investigative research into our Military Industrial Complex government. A Good, honest place to start even if you don’t like the man is Jesse Ventura’s “DemoCrips & ReBloodlicans” as well as “63 Documents the Government Doesn’t Want You to Read” and finally “American Conspiracies”. I suggest these as there are few works out there that are by such an individual that are as honest, authentic and to the point.
Whether you get these in audio on Audible or in book format, there are lots of references that you can look up to get more info on. Yes, I know there are a lot of crackpots out there saying all manner of crazy things but there really is a mountain of evidence that does show where the US government quietly went wrong and how it snowballed from there into what it is today.
If I were to put a face to it, it would look very much like a good, handsome, politician who shows a great family, godly face to the public but in private, is one of the most diabolical mass murderers in history… The pleasant face is that of the media and the complete lack of truth it gives the American people… I know this because I was there in Iraq for example, I saw what they did through me, through my mates, through fellow marines from the US. I saw what was done and NONE of what your media stated about that time was/is true, none of it… That includes 9/11 – possibly one of the greatest betrayals to a people ever, in recorded history…
Sticking your head in the sand is not helping you or anyone else, while helping to raise awareness is a part of the solution. Also, it shows courage to look honestly at what we really don’t want to see…
Have courage my friend.
DH
Get your gardens in and befriend a few chickens.
Sounds like it goes beyond mere incompetence and is planned. A four trillion (conservative estimate) dollar mchealthcare bill in the worst economy in 80 years is but one example. It will be wild to see dollars blowing in the gutter because it isn’t worth it to pick them up.
What’s the name of the documentary that went viral mentioned in the article?
yes, what is this video they speak of?
Way to back up your stance with sound reason and facts. I feel so relieved to know the riots in Europe are all because of BS …
BS?….sounds like you’re trying to console yourself.
An economic collapse is a mathematical certainty, and there’s nothing anyone can do to stop it. Add a little arithmetic to your opinion and you’ll get a better look at who’s shoveling it.
No, you’re problem is you are a complete moron if you think this isn’t coming your neighborhood. The NWO is GLOBAL, idiot, so go hide in a freaking cave, and they’ll still find your stupid @ss, regardless.
does anyone else get the feeling that this comment section has recently caught the attention of the troll population?
I`m thinking the same Jolly Roger
It has. WRH has FTT articles linked. Goes with the territory. Some here I’ve seen from other sites….never even bothered to change their screen name or posting style.
Benny, Is that you?
How’s that crack pipe been treating you?