Submitted by Tyler Durden: If there is one thing better than Marc Faber providing a free, must-watch (and listen)
50 minute lecture on virtually everything that has transpired in the
end days of modern capitalism, starting with who caused it, adjustable
rate mortgages, leverage, why did the Fed let Lehman fail, why was AIG
bailed out, quantitative easing, Operation Twist, where the interest on
the debt is going, which bubbles he is most concerned about, a
discussion of gold and silver, and culminating with his views on a world
reserve currency, is him saying the following: "The views of the
Keynesians like Mr. Krugman is that the fiscal deficits are far too
small. One of the problems of the crisis is that it was caused by
government intervention with fiscal and monetary measures. Now they
tells us we didn't intervene enough. If they really believe that
they should go and live in North Korea where you have a communist
system. There the government intervenes into every aspect of the
economy. And look at the economic performance of North Korea." Priceless. Source
50 minutes of Faberian bliss:
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