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Marc Faber: Prepare for Another War
Posted By kurtnimmo On May 27, 2011 @ 9:14 am In Economic Crisis,Tile | Comments Disabled
May 27, 2011
Marc Faber of the “Gloom, Boom & Doom” report spoke at the Ira Sohn Conference yesterday, and talked about the destructive nature of U.S. monetary and fiscal policy, and a way to play it.
Faber said that U.S. monetary and fiscal policy has created more volatility, and we can expect more of that going forward. Faber mentioned the Long Term Capital bailout, the liquidity that rushed in during Y2K, and the end result. The NASDAQ crashed, falling some 50%, and it still has not come close to those levels.
Faber said that not all growth in the country has occurred during inflationary environments, despite what the Federal Reserve wants you to believe. The U.S. grew from 4 million to 80 million people, and new industries were created during a deflationary environment. He mentioned industries such as railroads that prospered during the deflationary environment, and even mentioned that incomes rose during this time.
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