Marc Faber Says Central Banks Creating Road to Socialism - Mike Swanson (03/15/2016)
In this interview Marc Faber explains how central banks are creating a road to global socialism.
In 2009 we saw the TARP bailout that gave a trillion dollars to banks.
In turn bank CEO's gave themselves billions of dollars in bonuses.
It was a corrupt deal of crony capitalism - but the masses in the stock market were told that it was necessary for their own well being and they believed that without question.
After that we saw several QE programs used to buy not only treasury bonds, but mortgage backed securities.
CNBC talking heads such as Steve LIESman told people that this was necessary to make their stock market portfolios go up and that is all these TV watchers cared about.
So today we have a stagnate economy in which young people can find no good jobs.
And now that bull market is over and the momo is gone.
And instead of making changes the stock market masses sit their desperate.
If the market falls more like it did in 2008 they will cry out for more money printing and will not care what this will do to the real economy.
We are in a weird time.
People are seeing Trump on TV and Trump rallies and there is talk that Trump and his supporters are scary.
But in reality the most dangerous element in our society is the stock market bubble bull, because he will support a government take-over of the entire economy and stock market just to make his stocks go up again after a crash, because all he cares about is his stocks.
He has no care about the future of the country.
"The central banks aren't interested in what works, they're interested in their own prestige. And they are so deep into it already and it didn't work. They will increase the medicine," said Faber, the publisher of The Gloom, Boom & Doom Report. "Eventually, they'll buy all the government bonds; they'll buy all the corporate bonds, all the shares outstanding. Afterwards the housing market goes down, they'll buy all the homes and then the government will own everything."
Today's nervous stock market bubble bull will become tomorrow's stock market socialist.
What is silly is that money in their investment accounts can be made by selling bad stocks and getting into new bull markets that are just starting elsewhere.
David Skarica talked about this in an interview I posted on the website yesterday.
You can watch that here.
And money can be made by betting against junk stocks, because those in them now with no game plan will do a lot of selling on the next big drop.
To do these things go here.
Most Recent Posts
- Gold Summer Doldrums - Adam Hamilton (06/23/2017)
- Will Our Grandchildren Work Only Four Hours Per Day? - Ryan McMaken (06/23/2017)
- Automation's Destruction of Jobs: You Ain't Seen Nothing Yet - Charles Hugh Smith (06/23/2017)
- Jim Goddard Show: Is Gold Going to $700 or $1,300? - Mike Swanson (06/22/2017)
- Jeffrey Sachs – “JFK’s Quest for Peace” - JFK and the National Security State (06/22/2017)
- Ochelli Effect Podcast - Oliver Stone Goes to Russia - Mike Swanson (06/22/2017)
- Alarming Signals From Chinese Debts Markets Flash Red - Mike Swanson (06/21/2/107)
- Sprott Monthly Market Update with Rick Rule: Uranium Sentiment Just Got Bearish to the Extreme - Palisade Radio (06/21/2017)
- Retail Archaeology Live From Fiesta Mall! - WTF IS THAT SMELL?!?! (06/21/2017)
- After Brexit: Germany and the EU Will Look to Asia - Alasdair Macleod (06/20/2017)
Grab This Free Report: Our Top Mining Stock Pick
This free special WSW report is devoted to IDM Mining and why it is currently our top mining stock pick.
Grab it and get our next gold price entry point. Do not think about buying any other gold stocks before you read this report. To get this report click here