| Posted by | Message |
DeltaDoc 
LSU Fan
The Delta
Member since Jan 2008
6214 posts
| Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 9:20 am)
LINK
|
| Back to top | Share on  |
udtiger
LSU Fan
Louisiana
Member since Nov 2006
18089 posts
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 9:21 am to DeltaDoc)
Not gonna happen.
Obama was re-elected. It's all peaches and cream baby!
|
| Back to top | |
DeltaDoc
LSU Fan
The Delta
Member since Jan 2008
6214 posts
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 9:24 am to udtiger)
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.
|
| Back to top | |
constant cough 
New Orleans Saints Fan
Lafayette
Member since Jun 2007
28432 posts
 Online
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 9:25 am to DeltaDoc)
Time for some more easing!
|
| Back to top | |
TigerTattle
LSU Fan
Out of Town
Member since Sep 2007
3945 posts
Online
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 9:29 am to DeltaDoc)
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?
|
| Back to top | |
LSUAlum2001
LSU Fan
Tier BP
Member since Aug 2003
23888 posts
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 9:39 am to TigerTattle)
If the whole global financial system collapses, is there really a collapse?
|
| Back to top | |
Archie Bengal Bunker 
Florida State Fan
UWF Fan
Member since Jun 2008
14045 posts
Online
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 9:42 am to TigerTattle)
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.
|
| Back to top | |
Tiger n Miami AU83 
Auburn Fan
Miami
Member since Oct 2007
25232 posts
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 9:47 am to DeltaDoc)
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.
|
| Back to top | |
LSUAlum2001
LSU Fan
Tier BP
Member since Aug 2003
23888 posts
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 9:49 am to Tiger n Miami AU83)
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.
|
| Back to top | |
Tim
LSU Fan
Texas
Member since Jan 2005
5335 posts
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 9:51 am to LSUAlum2001)
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
|
| Back to top | |
joshnorris14 
Florida Fan
Florida
Member since Jan 2009
19583 posts
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 9:52 am to constant cough)
quote:
Time for some more easing!
Is Ben going to increase MBS purchases? I don't see it happening.
|
| Back to top | |
rob0710
LSU Fan
LA
Member since Oct 2004
171 posts
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 10:00 am to LSUAlum2001)
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.
|
| Back to top | |
Archie Bengal Bunker
Florida State Fan
UWF Fan
Member since Jun 2008
14045 posts
Online
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 10:27 am to Tim)
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.
|
| Back to top | |
ApexTiger
LSU Fan
cary nc
Member since Oct 2003
28180 posts
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 10:31 am to Archie Bengal Bunker)
Read The Wall Street Journal article from yesterday
|
| Back to top | |
paps
LSU Fan
Member since May 2011
184 posts
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 10:31 am to TigerTattle)
quote:
Time to gather your cash and stuff the mattress?
What happens to the dollar?
|
| Back to top | |
Archie Bengal Bunker
Florida State Fan
UWF Fan
Member since Jun 2008
14045 posts
Online
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 10:47 am to ApexTiger)
quote:
Read The Wall Street Journal article from yesterday
Can you narrow that down a bit?
|
| Back to top | |
CBLSU316
LSU Fan
Far Right of Left
Member since Jun 2008
4283 posts
Online
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 11:46 am to Archie Bengal Bunker)
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.
|
| Back to top | |
DeltaDoc
LSU Fan
The Delta
Member since Jan 2008
6214 posts
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 1:27 pm to Tiger n Miami AU83)
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?
|
| Back to top | |
rob0710
LSU Fan
LA
Member since Oct 2004
171 posts
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 1:32 pm to CBLSU316)
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
|
| Back to top | |
C
LSU Fan
The Woodlands, TX
Member since Dec 2007
17422 posts
| re: Faber: Prepare Your Anus (For Massive Market Meltdown) (Posted on 11/13/12 at 1:33 pm to TigerTattle)
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.
|
| Back to top | |
