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Page added on June 28, 2013
Dr. Doom: “A Lot Of Problems Are Coming… Revolution… Social Strife…”
Famed economist and investment guru Dr. Marc Faber of the Gloom, Boom and Doom Report weighs in on global happenings.
He predicted the collapse of global financial markets in 2008, and pegged their subsequent rise to the day back in 2009.
If there’s someone out there with his finger on the pulse of the financial crisis and where we’re headed next, it’s Doctor Doom.
If you have ten minutes today, and are looking for some realistic insights into financial markets, the monetary machinations behind the scene, and the non-traditional investments you should be focused on going forward, take the time to listen to the good Doctor.
Excerpts by Zero Hedge via The Daily Crux:
Just in case a new high would be achieved in the next two months or so, it would not be confirmed by the majority of shares. In other words, very few stocks would lead the advance. In terms of bonds, they are also incredibly oversold. Where the sentiment about equities is actually still rather positive and all of these super bulls still predicting the market to continue to rise into 2014, 2015.
In bonds and gold, sentiment is by historical standards incredibly negative. As a contrarian, I would rather buy bonds and gold than equities.
…
I think the market is on the high side, corporate profits are inflated and we could easily, from the recent high, May 22 at 1687 on the S&P, drop by 20% to 30%, easily.”
…
He [Ben Bernanke] said if the economy does not meet the expectations of the fed in one years’ time, they will consider additional measures. In other words, if the economy has not fully recovered by mid-2014, more QE will be forthcoming. As I said already three years ago, we are going to go with the Fed to QE99.”
…
We have wage deflation in the world in real terms, for sure. In other words, real wages are going down and the cost of living everywhere are going up. That is why you have social unrest in North Africa, in the Middle East, in Turkey, in Brazil, and it will spread because the average person on the street hasn’t participated in the huge asset inflation that has been going on in high-end properties, Mayfair properties, Fifth Avenue, Madison Avenue, the Hamptons and in equities and until recently in bonds and commodities.
…
The only thing that I know is that I want to own some physical gold because I don’t want all of my assets in financial assets.
…
I don’t know, I am not a prophet, I don’t know exactly where the price will be on a month by month basis, but I want to have some wealth, some of my assets in physical gold.
I can see a lot of problems coming into the world including expropriation through taxation or through regulation or even through revolution and social strife.
Like Ron Paul, Marc Faber understands that the price of gold can potentially go to infinity. So, too, can the price of other physical assets like food, energy and industrial metals.
As Faber notes, he can’t predict prices, but he does understand that stock market valuations are disconnected from the reality of the situation.
The Dow Jones may go to 30,000 points, but what good does that do for you if prices across all goods and services inflate to unimaginable levels?
This is what mainstream analysts and traders don’t talk about. They are focused on making money in stock markets, not how those valuations will affect the average person on the ground. As Doc Faber notes, wages are going down across the board. All the while prices are rising.
Sure, millions of dollars are being made on Wall Street, as has always been the case. But for the rest of us, well, we’re struggling to survive and most of us are living paycheck-to-paycheck.
If the stock market rises to 30,000 as some have predicted, chances are you will in no way benefit from that. In fact, it’ll hurt much more than it helps, because that rise can only be made possible through price inflation.
Whatever the case with stocks – up or down – it should be clear that wealth is being destroyed across the board.
This means things can only get worse for the majority of the population.
And, as we’ve seen throughout the world over the last five years, that kind of environment tends to lead to significant upheaval.
Expect the same here in due course.
Back in August of 2010 Marc Faber suggested that things around the world would get so bad, that you’d better own some of the following collapse-proof investments:
Buy a farm you can tend to yourself way out in the boondocks. And protect it with high voltage fences, barbed wire, booby traps, military weapons and Dobermans.
Invest in assets that will have real value – Assets you can use and trade, such as precious metals, food, supplies, barterable labor skills, and of course, high voltage fences to protect you from the hordes when they come looking for what they failed to prepare.
29 Comments on "Dr. Doom: “A Lot Of Problems Are Coming… Revolution… Social Strife…”"
c8 on Fri, 28th Jun 2013 1:59 am
This guys predictions have been followed and catalogued. He is only 47% accurate which is par for the course for investment gurus but is also NO BETTER THAN FLIPPING A COIN (slightly worse actually). Hold on to your wallet!
Source:
http://www.cxoadvisory.com/2875/individual-gurus/marc-faber/
Lore on Fri, 28th Jun 2013 2:17 am
Gold? In the long term future outlook is worth absolutely nothing.
Bloomer on Fri, 28th Jun 2013 3:03 am
Can you buy cat food with gold?
GregT on Fri, 28th Jun 2013 3:31 am
Ask people from the former USSR, South Africa, Argentina, or Zimbabwe about gold. For many, that was the only way out of the Country.
Although, I must admit, this time it might be different. There might be nowhere else to go.
BillT on Fri, 28th Jun 2013 3:39 am
GregT, I think you are correct, but it is a way to hold excess wealth until the dust settles. Odds are very good that gold will be the basis of the next currency, even if it is a medieval economy of lords and serfs.
c8, do you want your life to be determined by a ‘flip of the coin’? I don’t so I will prepare and than if nothing happens, I will still be ahead. While deniers will be dead. Pardon the rhyme… But something IS going to happen and even if the date is not foreseeable, the event is definite.
dashster on Fri, 28th Jun 2013 3:40 am
One thing I see coming is that the idea of someone getting up 5 days a week and driving a gas-powered car to work is going to become much less common.
DC on Fri, 28th Jun 2013 4:22 am
The idea that gold will someday become valueless just because you think or hope it will is not a credible. Gold has *never* lost its place as the currency of last resort, even in times of collapse, rather the opposite. True, enough the relative value of gold fluctuates over time, but its never lost its value to the point it was worthless. The reason should not be hard to grasp. Even in non-monetized civilizations gold has always been a prized item, jewelry is after all, just a rather artful form of currency reserve in many respects
The only way gold will become worthless is if society completely collapsed, where even a barter\gift economy would be considered a complex market system. Govts and civilizations collapse, but never so far down that that some form of organized economy exists. The idea that people wont accept gold for food or land, is ridiculous. If fact, its about the only medium people likely WILL accept for things of real value, productive land, water rights, or any advanced techs available and so on.
There is a word for people, actually a rather old word, that have little or no gold in a post-fiat economy.
They will be called serfs. And you will be spending a lot of time working on your permaculture-for someone else. The people with large quantities of gold will be called, Lords, and Kings, or perhaps Warlord, who can say what the exact names will be,but they will own all the things of value(and most of the gold too).
If you got land now-thats great. I suggest you have good land AND gold if you want to have a decent future as industrial civilization starts to unravel.
BillT on Fri, 28th Jun 2013 4:38 am
A short article for perspective…
http://www.doomsteaddiner.org/blog/2013/06/27/a-conversation-with-the-goddess/
Arthur on Fri, 28th Jun 2013 4:43 am
The best days of gold are already behind us in real terms, even if the nominal value could pass 5000$ in case of runaway inflation. I would not buy it again.
About social strife…
http://lewrockwell.com/huebl/huebl27.1.html
noobtube on Fri, 28th Jun 2013 6:35 am
Race war. The racists are always screaming about how they are racially superior to black people.
And look what the result has been. Things are as desperate and fragile as ever.
These fools never learn. This may be the final lesson, before it all collapses.
Stephen on Fri, 28th Jun 2013 6:57 am
You can’t turn gold into food if the food supply is cut off or there is not much to go around. I think Marc Faber is wrong. I think having land and a way to grow crops may be the only way to survive if the transportation and power grid go down permanently.
Arthur on Fri, 28th Jun 2013 10:06 am
“Race war. The racists are always screaming about how they are racially superior to black people.”
It is not necessary to include ‘superiority’ into the equation, identity suffices. Superiority was/is not an issue in Yugoslavia, Iraq or Syria. Yugoslavia was stable because a) the Serbs were the dominant ethnicity who had founded the country in the first place at the cost of Austria at the end of WW1 and b) there was a communist (meaning egalitarian anti-nationalist) dictator keeping the place together. In 1989 communism evaporated and meanwhile the muslims had outnumbered the Serbs and desired to connect to Albania. The Serbs in the end did not mind either to say goodbye to the muslims, so all what remained was the eternal question of who gets what in the impending divorce (Kosovo). After up to 200,000 deaths and a few NATO bombs, Yugoslavia finally disintegrated and now/soon all of the resulting 6 independent republics are/will be members of the EU, send singers to the Euro-songfestival and compete in the Euro-soccer cup. End good, all good.
Multi-ethnic Syria and Iraq same story. Held together by a dictator. Remove dictator –> genocide and disintegration.
USA. identity founders: WASP, after the original inhabitants (‘indians’) were genocided and the remainder stored in a museum called reservations. The reason why the US could exist in the first place was a common identity of western Germanic Europeans (Germanic white protestant christian). There was more than enough animosity against catholic Italians and Irish, but not enough that it could not be integrated succesfully, since these people were no threat to the majority. There was a civil war, but that was a war about the future of the country as a consequence of the exploitation of fossil fuel. The north stood for rising industrialism, the conservative south wanted to remain agrarian. The north did no longer need the services of Uncle Tom, as it meanwhile had enough virtual energy slaves per capita thanks to coal and oil to be bothered keeping slaves, so the Yankees (an imperial British invented mocking contraction of the two most common Dutch first names: Jan and Kees, today it is Muhamed) could use the slavery issue against the south as the usual Anglo necessary moral pretext (based on moralistic Protestant religion) for an impending slaughter. In the second half of the 19th century the eastern Europeans flocked in plus a certain minority, that would gradually take over the US powerstructure: finance (Wallstreet, FED), media and eventually politics as a consequence of the takeover of finance and media cluster. Between the end of the 19th century this minority incessantly pushed for immigration from other countries than western Europe, but the Wasps succeeded in resisting this lobby, until the latter managed to waste the last serious opposition against the minority, the Kennedy clan, and were able to replace him, circumventing cumbersome elections, with one of theirs: LBJ, who opened the flood gates for mass immigration from the third world. Game, set and match said minority, the beginning of the end of Euro-America. Now in 2013 we are at a breaking point. The Euro’s hated the development, but did not resist from a ‘do not rock the boat’ attitude. Economic progress was garanteed, so problems with integration could be bought off, and after all, were not Americans morally so much better than these evil racist Nazis, we so bravely had defeated (together with the Soviets, but no need to stress that)? And let’s face, the Euro’s never took the new immigrants (lawn mowers) very serious. Meanwhile, everybody with an insight in the developing energy drama knows that the days of permanent economic growth are over for a very long time, if not for ever. And that the US state of finance is catastrophic and US government finances are merely kept afloat thanks to the last leftover of WW2 goodies: the Bretton Woods dollar reserve currency. And China and Russia know that and Putin is smiling a lot lately, where the US elite is most of all fuming. Meanwhile the situation in the US is such that below age of five more than 50% is non-white. You see, white women are emancipated and hence have no time for offspring, after all you can’t stop progress, now can you. The consequence is that the US two party system is blowing itself up, since it is clear for everybody to see that from now on the Dems are garanteed to win as a consequence of shifting demographics, regardsless of how much Reps are pandering for the Mexican vote. Aging working class whitey does not like this development one bit and starts to stock up on ammo, big time, with a logical distrust against the government that succeeded to displace him.
What’s next? The Euro-American economic core of the US will gradually realize that nobody represents them within the two party-system, not even the Reps or O’Reilly or Hannity or Fox, who prefer (out of fear) to follow the agenda set by said minority (globalism, militarism, ‘benevolent’ hegemony, empire, mass immigration) and will look for an escape from Washington. That escape route will get a name and will be called secesion. And the moment when that movement will get traction is not very far off and will be initiated by the next financial implosion, the big one. That’s when all hell will break lose as the central government will be no longer able to provide for their third world pets, who will be forced to provide for themselves: the US one big flash mob, like Britain 2011 power 10. Whitey instinctively sees that coming and tries to buy every gun he can lay his hands on.
The bolshevik revolution (basically a Wallstreet funded jewish coup d’etat, later papered over by jewish filmmaker Sergei Eisenstein to make it look like a Russian revolution, with pictures of the storming of the Winter Palace that never happened) of 1917 had a precursor, a dress rehearsal in 1905. The 2008 meltdown in hindsight will be seen as a similar 1905 event of the real meltdown, that many are expecting: the libertarians a la Lew Rockwell and Peter Schiff, conservatives a la Buchanan and Paul Craig Roberts, outsiders like Gerald Celente and other internet luminaries like Dr. Doom or Jim Rogers, the Collapse and Peak Oil croud, the Orlovs, the Rupperts, Heinbergs, Kunstlers and all the other Cassandras. We have seen the Arab spring as the last major geopolitical event. All signs are that the next geopolitical earth-quake will take place in the US with global repercussions: global economic depression + reallignment of alliances.
Ricardo on Fri, 28th Jun 2013 11:04 am
White people will reassert themselves once civilization is restored after collapse.
BillT on Fri, 28th Jun 2013 11:29 am
And the beat goes on…
Everyone has their own personal spin that makes them look immune to reality. And I thought that was a problem specific to the US. lol
And when the dust settles who will have bet their life on the correct scenario? We shall see.
mo on Fri, 28th Jun 2013 2:03 pm
No mater its the law of the jungle. Always has been. Always will be. Today’s lions and tigers are the politicians and the lawyers. You want to change the system you have to get rid of them first
dashster on Fri, 28th Jun 2013 2:32 pm
“LBJ, who opened the flood gates for mass immigration from the third world.”
It was Senator Ted Kennedy who proposed the bill that opened up America to all countries in the world. And to this day, the increase in people that brought – and brings – is still considered part of the solution, not a part of the problem. 20 years after world oil production peaks there is likely still going to be US debate about whether immigration should be stopped.
Arthur on Fri, 28th Jun 2013 3:48 pm
“It was Senator Ted Kennedy who proposed the bill that opened up America to all countries in the world.”
That is the official story, amongst others proposed by Buchanan. But Ted Kennedy was 32 at the time and in no position to push something like that through.
http://tinyurl.com/q8gdp8g
“In his talk on Jewish power, Joe Biden included immigration and refugee policy as illustrations of how Jews have changed America…
Kennedy was a freshman senator with little clout. His role in leading the bill came about because it was a slam dunk following the liberal landslide in the 1964 election.. The Senate hearings on the bill were so perfunctory that the statements of opponents were given in Kennedy’s office… The bill was written by Norbert Schlei who was Jewish, and its official name is the Hart-Cellar bill;”
Kennedy was used to hide the real origin of the bill: jewish activists, who had been promoting a change in immigration policy for decades.
“20 years after world oil production peaks there is likely still going to be US debate about whether immigration should be stopped.”
Together with Buchanan (‘Suicide of a superpower’) I severely doubt that the US will have another 20 years.
Multicultural/multiethnic societies like Yugoslavua, Iraq, Syria, USSR, Czechoslovakia, Austria-Hungary, etc., etc. sooner or later blow up, where countries like Japan and Russia do not.
noobtube on Fri, 28th Jun 2013 4:41 pm
You are on this racial genocide insanity.
Didn’t Hitler try that… a racially pure society? How did that work out?
And, you talk about Russia is not multi-ethnic. Have you read Dmitry Orlov, an actual Russian?
He said the Rus, or pure Russians, are actually a very small part of the ethnic makeup of Russia. Yet, everyone, whether Muslim, Orthodox, Jew, East Asian, Caucasus, or Siberian…. is still called a Russian.
Your fantasties of racial purity is the very kind of stupidity that is destroying the world as we know it. It is this simple-minded HATE, and this ego-tripping sense of entitlement.
You are wasting REAL AND DIMINISHING RESOURCES to indluge in your RACE FANTASIES!
Stupid right until the end and still have not learned a single thing.
Arthur on Fri, 28th Jun 2013 6:33 pm
“Didn’t Hitler try that… a racially pure society? How did that work out?”
Rather well, until Churchill and Roosevelt and Stalin managed to instigate war between Germany and Poland.
“And, you talk about Russia is not multi-ethnic. Have you read Dmitry Orlov, an actual Russian?”
Orlov is jewish, not Russian.
https://en.wikipedia.org/wiki/Russia
Russia is 81% ethnic Russian, most non-Russians live in Siberia and Caucasus. You probably missed the devastating war between Russia and Chechnya, making a mockery of your genocidal societal views of ‘diversity is our strength’ baloney, not to mention Syria, Iraq and Yugoslavia, and hundreds of similar conflicts in history. But for the rest is Russia between Europe and Ural mountains probably >90% Russian, just like the US was before the immigration desaster of 1965. You maybe remember, the time when the US was able to put a man on the moon, now it cannot even get a monkey into orbit, never will again. The Brasils of this world do not have space programs.
“Your fantasties of racial purity is the very kind of stupidity that is destroying the world as we know it.”
noobtube is a commie and thinks he can destroy nations without consulting the population. That’s tyranny. Ask a Euro-American if he likes the way his country has changed and in overwhelming majority he will answer no. And history proves him right.
“that is destroying the world as we know it.”
Oh wait a minute, noobtube admits that his world is going to be destroyed after all. Give us a call so we can send blankets and food aid, just like we did with the East-Europeans in 1991.
noobtube on Fri, 28th Jun 2013 6:53 pm
You racial purists are living in a fictional reality.
How do you say, with a straight face, that EURO-Amercians are losing “their” country?
Who said it was “THEIR” land in the first place?
You admit your ancestors MURDERED the people and PILLAGED the land.
How is that not destroying the land? Which is the very thing you are complaining about losing “YOUR” country.
This is a bizarre argument.
If you want a racially pure fantasy land, then all you “EUROs” can go back to EUROPE.
See how easy that is?
But, no. You want to have it both ways. You want all the benefits of other cultures & lands, without having to pay for any of it, or suffer any consequences. And, then wonder why this fantasy cannot exist in the real world and never lasts.
The way of the racist is always doomed.
I can’t believe you actual consider Hitler a model of success. Bigots NEVER LEARN FROM HISTORY. Fools to the end.
socrates1fan on Fri, 28th Jun 2013 7:03 pm
Noobtube- A rational human being will look out for the interests of his/her people and their homeland. Virtually every nation on the face of this planet was the product of conquest at some point or another, yet we wouldn’t support the destruction of Japan or Nigeria via mass foreign immigration, would we?
The Navajo ethnically cleansed the lands they stole from the Anasazi. Yet would you protest their objection the white settlement of Navajo lands?
If anyone is living in a fantasy world, it is the diversity followers who not only ignore human nature and fact, but also only focus their “diversity” efforts at Western nations.
Also, about Europe..
The anti-European nature of our immigration laws extends very much so to Europe. Europe itself is being flooded (against the will of the majority of Europeans) with third world immigrants which is causing a whole slew of problems.
noobtube on Fri, 28th Jun 2013 7:37 pm
So, in other words, this racially pure fantasy you keep promoting as some kind of epitome of success, doesn’t exist in today’s world and there is no evidence of success in the past where a racially pure society ever did anything positive or even lasted for any length of time (not Rome, not Spain, not England, not China, nowhere).
Yet, despite their being no evidence this racially pure fantasy land exists, you still persist in believing that racial purity is the answer.
I just don’t know what to say.
Facts, logic, history, just cannot penetrate the mind of the hatemonger, the racial purist, the bigot.
Everyone else is the problem, but you.
How original!
Arthur on Fri, 28th Jun 2013 7:39 pm
Some info on where that insane ‘racism’ word is coming from, surprise, surprise, from one of the largest mass murderers in world history: Leon Trotsky (neocons call themselves correctly neo-trotzkyites):
http://penetrate.blogspot.nl/2010/01/racist-word-invented-by-ussrs-leon.html
Thank God, the globalist world, a left over from the Stalin-Roosevelt alliance, is coming to a close, now that the world is running out of (fossil fueled) steam. Russia and Eastern Europe are already liberated territory, now western Europe and North-America are going to be liberated as well, the hard way, ‘liberated’ meaning: identitarian post-globalist, in line with what the population wants, rather than the schemes of the neo-bolsheviks in office. And it probably is going to be more messy than in the east, exactly as Orlov predicts. Blue states US, UK, France and Holland are going to be hit hard, with (armed) clashes, as Dr. Doom suggests (but he is PC silent about the exact nature of the coming clashes).
Arthur on Fri, 28th Jun 2013 7:43 pm
“I just don’t know what to say.”
So what is your explanation for Syria, Iraq, Yugoslavia, Ruanda? It did happen, right? And why do you think white Americans are stocking up guns and ammo in an unprecedented scale?
Let me guess… evil racists at work? It looks like ‘evil racists’ are a fact of life.
socrates1fan on Fri, 28th Jun 2013 8:57 pm
Noobtube-
You claim that people present no reason, and yet when they do you completely ignore it, failing to see that you’ve put up no reasonable argument yourself.
Arthur on Fri, 28th Jun 2013 9:28 pm
Here some study material for noob:
http://www.telegraph.co.uk/news/worldnews/northamerica/usa/8026408/Digital-maps-show-racial-divides-in-US-cities.html
Like in every city in the world, races are strictly segregated, even in ‘race walhalla USA’, on the street level. People of all races simply feel better if they are among their own kind, nothing wrong with that. Wrong are those tyrants who cannot accept that and try to shove everybody else their communist ideas through the throat.
BillT on Sat, 29th Jun 2013 3:27 am
Will it matter if there is no world left after the coming war? Which major country, when it is losing big time is not going to bring out the nukes?
China?
The US?
Russia?
Israel?
India?
Pakistan?
France?
North Korea?
The UK?
I would lay odds that THAT is what is in the future of humanity, not squabbles over race. After all, there are still some 16,000 nukes laying around the world and unknown numbers of smaller nuclear sorceded weapons.
Arthur on Sat, 29th Jun 2013 7:20 am
The nuke that likely will go off first is the race nuke in US, UK, France, Holland.
Kenjamkov on Sat, 29th Jun 2013 12:30 pm
Racism is a distraction from the wealthy so nobody messes with them. If the top .1% can get us to fight among ourselves, they will remain at the top. Classic divide and conquer. They don’t care who we hate, as long as we concentrate on someone else.