Faber: Prepare Your Anus (For Massive Market Meltdown) | TigerDroppings.com

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DeltaDoc
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Faber: Prepare Your Anus (For Massive Market Meltdown)





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udtiger
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


Not gonna happen.

Obama was re-elected. It's all peaches and cream baby!






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DeltaDoc
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The Delta
Member since Jan 2008
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


quote:

Obama was re-elected. It's all peaches and cream baby!


You are actually probably correct in that they will just keep printing money and injecting it into the market.

Europe and Japan are on the verge of collapse...one has to wonder if they go do we go too. I think there is no doubt if we go they go as well.






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constant cough
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Lafayette
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


Time for some more easing!





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TigerTattle
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


quote:

Faber identified several issues curbing an economic recovery, such as the real estate market, which he said had never been so “overbuilt.” He also said there was lots more deleveraging ahead.



“In the Western world, including Japan, the problem we have is one of too much debt and that debt now will have to be somewhere, somehow repaid or it will slow down economic growth,” Faber said. “I think we lived beyond our means from 1980 to 2007, and now it’s payback period.”

(Read More: Greece Needs Another 80 Billion Euros)

Faber told CNBC that central bank stimulus was useless and the implosion of markets was the only way to restructure the financial system.

I think the whole global financial system will have to be reset and it won’t be reset by central bankers but by imploding markets — either the currency [markets, debt market or stock markets,” he said. “It will happen — it will happen one day and then we’ll be lucky if we still have 50 percent of the asset values that we have today.”




Time to gather your cash and stuff the mattress?






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LSUAlum2001
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


If the whole global financial system collapses, is there really a collapse?





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Archie Bengal Bunker
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Member since Jun 2008
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


quote:

Time to gather your cash and stuff the mattress?



That's it. Things need to get bad before they get better. Taxes and cuts. It sucks, but we put ourselves in this position by not acting sooner. Besides, a lesson in saving might be good for this consume on credit country. A trip back down Great Depression "cash hidden throughout the house" lane might be beneficial.






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Tiger n Miami AU83
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Miami
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


This is exactly what I have been saying and why I supported Obama's plan over Romney's. I have said over and over I would rather pay a bit more now than get bent over and take it in the arse with austerity measures in 5-10 years.

quote:

What the U.S. needed was some pain, he said, aptly demonstrated by the euro zone’s austerity measures that are attempting, with a mixed measure of success, to curb gaping budget deficits.

“There will be pain and there will be very substantial pain. The question is do we take less pain now through austerity or risk a complete collapse of society in five to 10 years’ time?” he said, adding that there was a lack of political will to tackle the U.S. budget.






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LSUAlum2001
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


quote:

I have said over and over I would rather pay a bit more now than get bent over and take it in the arse with austerity measures in 5-10 years.



Paying a bit more now would do nothing to prevent you taking in the arse in 5-10 years.






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Tim
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


quote:

Paying a bit more now would do nothing to prevent you taking in the arse in 5-10 years.


this is absolutely correct...if they don't stop the spending, they can raise taxes to 100% of everyone's income and it won't matter...the logic of these people about raising taxes is astounding






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joshnorris14
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Florida
Member since Jan 2009
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


quote:

Time for some more easing!


Is Ben going to increase MBS purchases? I don't see it happening.






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rob0710
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LA
Member since Oct 2004
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


If you pay more now, it drops the deficit temporarily, but eventually the spending will stack up the bill again. If you cut spending instead, that cause of the deficit is gone, unless you get back to spending.





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Archie Bengal Bunker
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Member since Jun 2008
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


quote:

this is absolutely correct...if they don't stop the spending, they can raise taxes to 100% of everyone's income and it won't matter...the logic of these people about raising taxes is astounding


The cut only logic is equally as astounding. It's possible to attack the problem from both ends.




Let me guess, any tax increase is going to end the economy.







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ApexTiger
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


Read The Wall Street Journal article from yesterday





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paps
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Member since May 2011
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


quote:

Time to gather your cash and stuff the mattress?



What happens to the dollar?






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Archie Bengal Bunker
Florida State Fan
Member since Jun 2008
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


quote:

Read The Wall Street Journal article from yesterday


Can you narrow that down a bit?






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CBLSU316
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Member since Jun 2008
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re: Faber: Prepare Your Anus (For Massive Market Meltdown)


Am i right in that raising/lowing taxes is not creating the deficit? It the spending?

Several on here have called me an idiot for this statement.






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DeltaDoc
LSU Fan
The Delta
Member since Jan 2008
9049 posts

re: Faber: Prepare Your Anus (For Massive Market Meltdown)


quote:

This is exactly what I have been saying and why I supported Obama's plan over Romney's. I have said over and over I would rather pay a bit more now than get bent over and take it in the arse with austerity measures in 5-10 years.


Honest questions (no flame): Do you believe that Obama will take serious measures to reduce entitlements in the form of welfare, food stamps and extended unemployment benefits, elimination of Obama-phones, etc. in his next four years in office?

If more revenue is generated by elimination of Bush tax cuts and other tax increases, do you think that Obama will take this extra income and apply it to existing debt reduction?






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rob0710
LSU Fan
LA
Member since Oct 2004
177 posts

re: Faber: Prepare Your Anus (For Massive Market Meltdown)


quote:

Am i right in that raising/lowing taxes is not creating the deficit? It the spending?

Several on here have called me an idiot for this statement.


I've been arguing this. It goes through 1 ear, out the other. Good luck.



This post was edited on 11/13 at 1:34 pm


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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
21829 posts

re: Faber: Prepare Your Anus (For Massive Market Meltdown)


quote:

“I think we lived beyond our means from 1980 to 2007


I think we've added almost 40% the total debt to this country in the last 5 years. Seems absurd that he would cut it off in 2007.






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