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MARC FABER & JIM ROGERS: ‘Obama Is A Disaster, The Stock Market Should Have Fallen 50%, And You Should Buy Yourself A Machine Gun. I Need To Buy A Tank…’ ‘It’s Going To Be More Inflation, More Money Printing, More Debt, More Spending…’


MARC FABER: Obama Is A Disaster, The Stock Market Should Have Fallen 50%, And You Should Buy Yourself A Machine Gun

 

Marc Faber, publisher of the Gloom Boom, & Doom Report, told Bloomberg Television’s Trish Regan and Adam Johnson on “Street Smart” today that “Mr. Obama is a disaster for business and a disaster for the United States” and that he “thought that the market on his reelection should be down at least 50%.”

Faber also said “I doubt [Obama] will stay at the presidency for another four years. I think there will be so many scandals” and that investors should “buy themselves a machine gun.”
 
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Faber on President Obama’s reelection:

                

“I am surprised with the reelection of Mr. Obama. The S&P is only down like 30 points. I would have thought that the market on his reelection should be down at least 50%…I think Mr. Obama is a disaster for business and a disaster for the United States. Not that Mr. Romney would be much better, but the Republicans understand the problem of excessive debt better than Mr. Obama who basically doesn’t care about piling up debt. You also have in the background Mr. Bernanke, who with artificially low interest rates enables the debt to essentially escalate endlessly.”

 

On where he sees the equity markets given Obama’s reelection:

 

“You have offsetting factors. The problem with Mr. Obama is that you get more regulation and it’s disincentive for businessmen to hire people. You probably also get higher taxes, so in terms of the economy, he is very negative in my view. But you still have Mr. Bernanke, and you still have because of money printing very high corporate earnings. They are now coming down, but they are still at the elevated level. You have money printing supporting the market and on the other hand, you have an economic slowdown globally which will affect earnings negatively. It is difficult to tell where the market will go because we have so much manipulation. I think, minimum, it will drop 20%.”

 

On how investors should protect their assets:

 

“They should buy themselves a machine gun…I need to buy a tank. Joking aside, look, we have manipulated markets. Whenever you manipulate markets, you will get unintended consequences. i think the reelection is unintended consequence of money printing, that favors the so- called 0.25%. It was easy for the Democrats to attack the wealthy fat cats of Wall Street, the elite, and the privileged people to portray them as a profiteer of the system, which to some extent, they are. Not because they wanted to but because Mr. Bernanke enabled them to be profiteers. We have a situation where you have today Mr. Obama, I doubt he will stay at the presidency for another four years. I think there will be so many scandals, but that’s another story.”

 

On why he believes Obama won’t make it another four years as president:

 

“There is so much smoke. I suppose there is some fire. That is my observation. We don’t know how the world will look in five years’ time. I am pretty sure central banks will continue to print money and the standards of living for people in the western world, not just in America, will continue to decline because the cost of living increases will exceed income. The cost of living will also go up because all kinds of taxes will increase. Like Proposition 30 today in California is of course negative for the Californian economy. That is the state of the world. We have worsening economic conditions, but we have money printing.”

 

On Speaker Boehner’s comments to Congress today on the fiscal cliff:

 

“I am sure that they will solve it. They will increase cosmetically some taxes and they will cut cosmetically some spending and it will all be back loaded 10 years from now. So in reality, not much will happen. But the market tends to rally towards year-end, and i think from a low of around 1360, we could have a rally to January, but I think sometime next year will be again lower.”

 

On whether he sees the U.S. in recession in 2013:

 

“Yes, I think that if the figures were compiled properly. If nominal GDP was adjusted by a proper price deflator, we would probably already be in recession…But I would like to point out one thing about the economy. GDP is not a very relevant figure. It consists of many different sectors of the economy, so you can have some sectors that are improving like housing and others that are worsening.”

 

On his dollar and euro positions:

 

“This is the choice in life. You choose what is less bad. I don’t particularly like Mr. Obama, but I think he is less bad for the world than Mr. Romney. It is a tragedy of life that both candidates did not lose the election. They would have deserved both to lose.”

 

Previously sees a 20% decline ahead for the Dow and S&P 500 from their recent highs. 

 

Jim Rogers: Obama re-election means disaster is now guaranteed

Under Obama’s first term in office, the Federal Reserve slashed interest rates to near zero and pumped the economy with trillions of dollars in fresh liquidity via a monetary policy tool known as quantitative easing, under which the U.S. central bank buys bonds from banks and floods the economy with excess money supply to encourage investing and hiring.

Republican challenger Mitt Romney has said he opposes such policy and suggested he would not renew Fed Chairman Ben Bernanke’s term when it expires in January 2014.

Now that Obama is set to preside for another four years, expect the Fed to keep monetary policy loose with the aim of spurring investing and hiring, when in reality, inflation rates are on the rise.

“It’s going to be more inflation, more money printing, more debt, more spending,” Rogers told CNBC just prior to Obama’s re-election.

Investors should avoid U.S. government debt and the dollar and stock up on gold.

“It’s not going to be good for you me or anybody else,” Rogers said.

Gephardt: Stock Market Is At Risk Of Losing 2,000 Points Within The Next Few Weeks

There is some risk that the public could hear some “histrionics” from Democrats and Republicans playing to their bases as Congress works on spending cuts and tax reform, all of which could severely unsettle the markets, the former House majority leader said Wednesday.

“If it looks like that is happening you could have a couple really bad days on Wall Street,” Dick Gephardt said at an event hosted by National Journal magazine. “You could have the markets drop by 1,000 or 2,000 points.” (The event was titled “The Day After: The 2012 Election Debrief.”)

 

FED/NAM/CBO/CHINA/FABER: THERE IS NOW 100% CHANCE OF RECESSION

DOLLAR CRASH IMMINENT: We’re Witnessing An Unprecedented Moment Where Countries Lined Up Demand Return of Their Golds Reserves While Central Banks Around The World Are Anticipating Unlimited Money Printing

 

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  • http://www.none thomas jefferson

    I don’t need a bunch of politians to tell me whats coming next,IF they told the truth we would’nt be in the mess the country is in,and now all hell is going to break loose because obama has nothing to lose now,put on your shoulder harness and seat belt, were going off the cliff……….

  • engineear

    The masses want socialism which leads to communism. Keep those unemployment checks and food stamps coming! The food stamps are printed next to the money presses, might as well be the same thing. They’ve taken God out of the country but not from my heart. One day closer….

    • sanity

      Step away from the edge, sport. And turn off the Murdoch teevee.

      • Mad Angel on FB

        Exactly sanity…..

        I think what’s most telling here is the very last line:

        DOLLAR CRASH IMMINENT: We’re Witnessing An Unprecedented Moment Where Countries Lined Up Demand Return of Their Golds Reserves While Central Banks Around The World Are Anticipating Unlimited Money Printing

        What the heck does Obama have to do with that?? IT’S THE FED PEOPLE…who dictates to the government……MAYBE THEY’RE WORRIED he’ll stand up to them, now that he’s not quite so much in their debt.

  • m

    We voted for him/them. What does that say about us?

    • Anonymous

      I didn’t vote for him. I didn’t vote for Romney either. I didn’t vote because it is all corrupt and the fact that people don’t see this means they deserve to continue to get financially screwed.

  • Dr.Detroit

    The people that have elected Obama are the brain dead walking zombies that are on welfare , food stamps , do not want to ever work , and the ultimate part is that they think that what we have earned in our lives should go to the ones who DO NOT WANT TO EARN IT !!! This is what Obama meant in 2008 when he said redistribution of wealth!!! Obama knows what he is doing , he wants to destroy America that is his Goal for the globalists, Period!!!!!!!!

  • http://averyheavystone.blogspot.com/ Marcel

    If God was sending us a message in Obama’s reelection, it is that the wicked and perverted are always the majority as they were in Noah’s day and the people will get what they deserve.
    This nation redirected it’s course away from any safe harbor directly into the approaching iceberg a long time ago
    with our turn away from him towards perversity,decadence and corruption .
    We have been given the Captain the floundering ship America deserves who will stay on the pre-determined course to America’s destruction.

    Has anyone else mentioned to you ?
    You overdo it on the advertising ,it’s obnoxiously in the way of the news story.
    It’s a real turn off and I don’t think I’m alone with this assessment.

  • Roberto

    People voted their personal interests:

    Jewish 69% Obama
    White 59% Romney
    Black 93% Obama
    Latino 71% Obama
    Asian 73% Obama

  • http://agency323.com charles

    If you would have told me that Romney would have gotten 2,000,000 less votes than McCain-I would have been very surprised. If you told me that Obama would get 10,000,000 less votes and win-I would have thought you were on something. The market only dropping 300 yesterday is a semi-good sign for the holidays IMHO. I too would have though we’d see a 500+ point drop, and several days of that. I think we’ll continue to pump money into the markets and publish bunk job reports with more folks “falling off” the available workforce to artificially keep the number at or around 8% until next year. My guess is by February we’re at 10% unemployment even with the cooked books, and the wheels start to come off this mama jama!

  • sanity

    It’s no longer 1971. We have a fiat currency economy. The Fed controls our money supply, so we can never go bankrupt. Debt is part of the system and is any fear of it is presently meaningless. Start dealing with this reality. The rest of the world already has.

  • ding

    well Marc Farber.. we’ll all see shortly how accurate or not you are.

  • Jim Bo

    Seems like Faber was contradicting himself when he (rightously) bashes Obama and then finishes with

    “This is the choice in life. You choose what is less bad. I don’t particularly like Mr. Obama, but I think he is less bad for the world than Mr. Romney. It is a tragedy of life that both candidates did not lose the election. They would have deserved both to lose.”

  • George Tirebiter

    It looks like the controllers have decided that the incumbent puppet gets 4 more years to push forward their agenda and gradually boil the frogs using a bit less chaos and bloodshed. Faber is right about it being somewhat better that Romney didn’t get elected (read didn’t get the controllers nod) in that the chaos and bloodshed would be much quicker and more intense with Romney’s hardline narrow-minded non-negotiable confrontational approach. The frogs will warm up much more passively to a slow boil approach, so that’s what the controllers gave us….this time. Let’s see what they serve up next!

  • MacAngheirr

    Buy guns lots of guns and ammo…be prepared for the Race war that is assured to come…
    followed by a full out civil war..
    Be Prepared…
    the whole damn thing will collapse very very soon.

  • True American

    If anybody thinks there is any hope left for the U.S. they are lying to themselves. And now that the those group of people who voted for obama know how to vote themselves a pay raise (govt assistance) it is all over especially seeing that they are making more like them. I agree that it looks like there is going to be another civil war. Then and only then maybe then Congress will have to pay attention and do something about allowing a destructor like obama and his socialist buddies to be in office. War is bad but it does bring changes and this nation needs a change in office or we are all doomed, obama supporters included.