Edward Hugh : How Life In The Internet Changes The Practice Of Macroeconomics

Speaker: Edward Hugh
Chair: Professor Luis Garicano
This event was recorded on 14 February 2011 in Sheikh Zayed Theatre, New Academic Building


A surprising feature of economic analysis of the current crisis has been the pivotal role played by a small number of bloggers, often positioned far from the academic mainstream. This event will feature one of the top bloggers on the Euro Crisis who will discuss the role the bloggers have played in our understanding of the current Euro Crisis, and in what ways having more data in our hard drive than the sum total of all previous economists changes our understanding of macroeconomics. Edward Hugh is an independent macro economist based in Barcelona. He studied at the LSE, where he obtained his BSc (econ). He then went to Manchester University where he was awarded an MSc in the philosophy and sociology of science. He subsequently persued doctoral studies there for a thesis which was never completed. He is a regular contributor to a number of weblogs, including A Fistful of Euros, Roubini Global Economics Monitor, Global Economy Matters and Demography Matters. He also has an active and widely followed Facebook community. For more information on Edward Hugh see the recent profile in the New York Times. Luis Garicano is a Professor of Economics and Strategy at the LSE's departments of Management and Economics.

Marc Faber : Emerging Economies are very tied to the Chinese economy

Marc Faber :".......In general, the issue is that between 2008 and today, emerging economies have performed very well economically speaking and the rest of the world has not, and therefore, we had an outperformance in emerging economies' stock markets. Now, the question is emerging economies are very tied to the Chinese economy, and if the Chinese economy slows down or goes into a recession or there is a bubble that bursts in China, before the developed market economies recover strongly, what the implications will be on equities? That's why I feel more comfortable today to move back some money out of emerging economies into the developed markets. ...."
via www.economictimes.indiatimes.com

Ha-Joon CHANG - 23 Things They Don't Tell You About Capitalism

Speaker: Professor Ha-Joon Chang
We may like or dislike capitalism, but surely we all know how it works. Right? Wrong. Today, most arguments about capitalism are dominated by free-market ideology and unfounded assumptions that parade as 'facts'. This lecture in which Ha-Joon Chang will talk about his new book 23 Things They Don't Tell You About Capitalism| tells the story of capitalism as it is and shows how capitalism as we know it can be, and should be, made better.


Ha-Joon Chang (born in South Korea in 1963) is a leading heterodox economist specializing in development economics. He currently teaches political economy of development at the University of Cambridge. He is the author of numerous influential books, including Kicking Away the Ladder: Development Strategy in Historical Perspective (2002), who won the 2003 Gunnar Myrdal prize awarded by the European Association for Evolutionary Political Economy (EAEPE).

One of the main disciples of Joseph Stiglitz, Ha-Joon Chang has worked as a consultant for the World Bank for the Asian Development Bank for the European Investment Bank, for various UN agencies and the NGO Oxfam . There is also a member of the Center for Economic and Policy Research in Washington, DC

He received the 2005 prize for the advancement Leontieff limits of economic thought (awarded in the past including Amartya Sen, John Kenneth Galbraith and Herman Daly), awarded by the Global Development and Environment Institute.

Debating Inflation vs Deflation : Gary Shilling vs John Tamny

big debate over inflation vs. deflation featuring Gary Shilling of A. Gary Shilling & Co. and John Tamny, editor of RealClearMarkets.com
Gary Shilling, author of The Age of Deleveraging, remains bullish on the dollar and Treasuries. He says a "speculative bubble" is driving up commodity prices; a bubble he believes will pop when China's economy suffers a "hard landing,"

Inflation Watch

Feb. 16 2011 | CNBC's Steve Liesman breaks down the PPI data.

Inflation Creeping up

Featuring Bloomberg TV's Adam Johnson and Dominic Chu : Bloomberg Television's Under the Radar: Inflation, Trains & Play-Doh

Joseph Stiglitz interview ManagemenTV

ManagemenTV - Joseph Stiglitz

Marc Faber : I still like the agricultural commodities

Marc Faber :.."...I still like the agricultural commodities, but they have had a very big move - in some cases 50% - over the last 3 months. So potentially, we will get kind of a setback here, a correction. But in general, I am still positive on agricultural commodities and I am still positive about precious metals whereby precious metals have become very popular lately and they have been very strong, including gold, silver, platinum, palladium and a correction is also overdue.

The whole world is now optimistic and positioned to take advantage of forever expansionary monetary policies by buying assets, precious metals, real estate, equities, and everybody believes that the central banks in the world will print and print and print and print. That is correct, they will do that, but they printed, printed and printed and we still saw a financial crisis in 2008. So I can print and print and print, and you can still have big corrections in the market. But I believe that if the S&P in the US drops 15-20% to around 900-950, the Fed would come out not with this quantitative easing No. 2, but with quantitative easing No. 2, 3, 4, 5, 6, 7, 8, 9, 10 until the asset markets go up again. They are going to print and print and print. ..."
in ET Now

US frustrated over skyrocketing food prices

The massive protests in Tunisia, Egypt and across the Middle East that toppled two dictatorships in less than a month drew millions into the streets, and they may have started at the kitchen table. Food prices have surpassed 2008 food crisis-levels around the world, and inflationary prices are leading to protests—and contributing to revolutions. Basic staples like corn, wheat, milk and cereal are rising the fastest as the US pushes producers to convert corn crops to ethanol and big Wall Street firms hedge their bets on commodities speculation.

Marc Faber : inflation will dominate the short-term scene, gold and silver among the more desirable holdings in the event a major war breaks out

"The US public debt could be much higher if unfunded liabilities like Medicare are included," Investment guru Dr. Marc Faber said on 14 Feb 2011 in Bangkok as reported by The Bangkok Post newspaper "There are not many options. The US will need to keep printing money for the time being." Marc Faber explained that he sees gold and silver as wise investments in case of a war in the middle east or elsewhere :
"If there is a war, gold and silver would be desirable investments to hold," he said
"There will be times like the 1990s until 2008 when gold outperformed stocks and vice versa in 2009. But the key is flexibility. We don't know how the world will look in 10 years' time."
"Inflation will be an issue in Asia and the Western world. I think governments around the world will increase interest rates sufficiently to combat inflation." he added
via www.bangkokpost.com

Ellen Brown Talks Web of Debt, The Wizard of Oz, Inflation, Deflation

Tarek Saab interviews Ellen Brown about her excellent book, Web of Debt, as well as the allegory of the Wizard of Oz, food riots in Eqypt, and much more.

Joseph Stiglitz Who Sank The Global Economy

The visiting Nobel Laureate and global economist Joseph Stiglitz explains how a free market approach to the financial market has failed us, and how selective government intervention can prevent another worldwide crisis.

Marc Faber : The world will hit one day peak Oil

Marc Faber :"....Yes, I am still positive about oil and I am aware that some analysts predict oil prices to drop to $30 and copper prices to drop 70%, but the fact is simply the oil demand now-a-days in emerging economies exceeds for the first time in the history of capitalism. The oil demand in the developed world and this oil demand in emerging economies will continue to go up. So the demand side looks quite strong.
On the other hand, you have prices between $70 and $80 and someone could argue well that that is a very high price and so maybe prices will temporarily decline - that may be the case. But I would like to point out that for any oil company to go and explore and drill for new oil, the oil price has to be around $70. Otherwise, they would not do it because the marginal cost of new production is around this level.
Secondly, unlike say a farmer who harvests, oil is a finite resource in the sense that once you pump it and you burn it, it is no longer there. The farmer can harvest his crop every year again and again and again. In the case of oil, once you pump it, it is gone and you use it. So in most countries, oil production is going down and oil reserves are going down. In other words, the world will hit one day peak oil, the way the US hit peak oil in 1970. So the dynamics between the demand and the supply side look actually quite promising in the long run. ..."
in www.economictimes.indiatimes.com

Marc Faber : We will have more volatility in 2011 than in 2010

Marc Faber : ....We will have more volatility in 2011 than in 2010. It is futile to say which asset class would do the best. Maybe, for the next two weeks, this asset class will do the best and maybe for the following two weeks, that asset class will do better. There will be a lot of group rotations....
in www.moneycontrol.com

Interview with Author Matt Taibbi

Matt Taibbi discusses his book "Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America" and the stunning rise, fall and rescue of Wall Street in the bubble-and-bailout era and the inner workings of politics and finance in America.



great talk, unfortunately even though Taibbi has it down and explains it clearly, it is still too complicated for the American public to understand how the system has shafted them and saddled them with 40k$ debt per capita that their children and grandchildren will be paying off assuming we dont go the way of all the previous empires and just simply default after the revolution ...

Marc Faber : corrections can occur in agri commodities as in 2008

Q : Last time when we interacted, you were bullish on wheat, you were bullish on orange juice and you were bullish on sugar. Do you still like all these 3 agri commodities?

Marc Faber : Yes, I still like these commodities, but because they moved up so strongly, I would be a little bit careful about mortgaging my house and buying all these commodities. They will continue to move higher, but corrections can occur. What disturbs me is this kind of universal belief that you have to be in commodities, you have to be in precious metals, you have to be in equities and not in cash because governments - in others words central banks - will keep on printing money and the value of paper money will go down. I agree with that but as I pointed out, we can still get meaningful corrections as occurred in 2008.
in ET Now www.economictimes.indiatimes.com

Marc Faber : Bernanke and he Bureau of Labor Statistics is continuously lying about the inflation

U.S. Government Lying About Inflation and Jobs Market
Marc Faber : " I have very large subscription base and I ask my readers whoever thinks that the cost of living is going up by less than 5 percent per anum to please send me an email ...I did not one single email  and I guarantee you also for your family and for every family in the US that The annual cost of living increases are more than 5% today and the Bureau of Labor Statistics is continuously lying about the inflation rate, including Mr. Bernanke. He’s a liar. Inflation is much higher than what they publish.I think that inflation is between 5% and 8% per annum in the US, and in Western Europe, a little bit lower, also 4-5% per annum.”..Marc Faber estimates that inflation in the US was currently Is Running Up To 8 per cent , and between 4 and 5 per cent in Europe.

Hyperinflation, Food Crisis, Federal Deficit, Collapse?

where do you think the economy is headed? Hyperinflation - Riots in the Street - IMF is a scam and so is The Federal Reserve System Learn how to PROTECT YOUR FAMILY! This is just a taste of what is to come around the world in the coming hyperinflation. Educate yourself now before it's too late.The IMF destroys everything. Look at Greece, Portugal, Romania and many others. Once prosperous, now with the IMF the people are in the streets.

Marc Faber : After a period of heavy money printing war follows

Marc Faber & Nassim Taleb at Russia Forum : Is Russia the Best or Worst in BRIC?
Marc Faber explains why oil is the best investment right now, whether you’re bullish OR bearish on the world economy. Interesting…Marc Faber on Is Russia the Best or Worst in BRIC?
Marc Faber starts at 24:24 minutes and Nassim Taleb at 40:00


The following transcript was done manually by the author of this blog so it may not be 100% accurate ...
Marc Faber :"....we are living in a very complex world and when I look at it , we have different asset classes equities bonds governments bonds , we have real estate and commodities and so forth and so on and depending on your perspectives you may chose different asset classes , they are no such a thing as the best emerging market I do not focus so much on BRIC , I focus on the developed world of the west , America and Western Europe and in terms of another industrialized nation Japan and everything else that is emerging where 80 per cent of world population lives , I do not find that one country is the best compared to another one because when it comes to assets there is no asset that is always the best , but an asset can be the best at the right price , when the price is depressed and the best asset if the price is too high is not a good asset so I think that we have to look at it that way ...from an investment point of view we have a big debate in the world whether we have a deflationary collapse or an inflationary boom , and I'd like to introduce a thought where you would chose an asset that will perform well under either condition , in a deflationary bust you have a credit collapse so the one thing you do not want to own are US government bonds , because they won't be able to pay , and before they can pay they will print money like there is no tomorrow so the dollar would continuously depreciate which obviously would be good for assets that you can multiply such as commodities and precious metals , I separate precious metals from commodities ...but then I also think if they print money what then usually happens is that the standards of living of the middle class and the working class goes down because the cost of living increases faster than wage gains and so the population becomes very dissatisfied and eventually the government do stay in power to distract the attention of the people either goes to war or blames a minority for the mishaps ,and so forth but usually after a period of very heavy money printing war follows ...so If I invest today, I am considering the following: it is conceivable that because of ultra expansionary monetary policies in the world, and ultra expansionary fiscal policies in the US in particular, we have a temporary crack up boom. And the demand for oil in the western countries which has been declining since 2008, starts to pick up, and combined the oil demand in the world surprises on the upside, and pushes up oil prices, which would be beneficial for the oil producers, in particular Russia and Kazakhstan. Or you have what I think eventually happens: a complete systemic breakdown. I am the most bearish person long-term. If there is a complete breakdown, as I described with money printing and war, you want to be in commodities, specifically oil, because during war times commodity prices go ballistic. So whether you are very bullish or very bearish you should invest in oil....."

James Chanos Talks about Munis

Feb. 10 2011 |
James Chanos, Kynikos founder & president, shares his insight on muni bonds now.

Bernanke Sees Little Inflation Risk

Federal Reserve Chairman Ben Bernank went before Congress Wednesday to defend the central bank's monetary policies. He told the committee he see's little immediate inflation risk in the U.S. Elsewhere in Washington, another member of Congress announced he would not seek re-election, while overseas, violence flared again on Day 16 of Egypt's anti-government demonstrations.

Marc Faber : Precious Metals will be higher than they are today In three years ,

Marc Faber : "...In three years or 10 years time, precious metals will be higher than they are today. But we may have a correction coming in the next, say, three months. But in general, when I look at the risk and the reward, it is very likely that precious metals will continue to perform reasonably well. But if S&P drops to around 950, then the Fed will again massively ease and print money. So the surprise could actually be that in nominal terms, equity markets actually go up. They may not go up in gold terms, but they may go up quite strongly in nominal terms. So I would not be overly bearish about equities...."
in www.economictimes.indiatimes.com

Marc Faber on the Russia Forum 2011

Marc Faber said that he likes the Japanese market. He would short Treasuries, and believes that expectation of inflation is now consensus.
Equities are better than debt in crisis. Gas is a good short-term trade. Commodity spikes often reverse rapidly, and he would short industrial commodities at some stage this year. Short term, equity markets look ready for a correction. Higher oil prices act as a tax on consumers. Long term, he is negative on the dollar as rates will stay far too low.
source http://2011.therussiaforum.com/news/news-04022011-5

Steve Forbes: If printing money was the way to wealth then we should legalize counterfeiting

Steve Forbes : If printing money was the way to wealth then we should legalize counterfeiting , but the government does not like competition that's way Peter Schiff added . On the Peter Schiff Show, Steve Forbes declared: "If printing money was
the way to wealth, then we should legalize counterfeiting"

Jim Chanos : The Chinese Bubble going to Burst ?

Is property boom in China really 65% of GDP? And if that bubble pops...Jim Chanos, founder and president of New York investment company Kynikos Associates, is an unapologetic China bear. Earlier in the year, Chanos famously described China's fixed asset malinvestment and manufactured growth as "a treadmill to hell". He then recently followed up with a cracking interview/article in Fortune, describing in detail some of the key problems afflicting the Chinese economy. Now Chanos has continued his crusade with the above interview on CNBC.

Joseph Stiglitz : How the World can Rethink its Approach to Global Finance

How the World can Rethink its Approach to Global Finance (Joseph Eugene Stiglitz)
About Joseph Eugene Stiglitz
He is an American economist and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is also the former Senior Vice President and Chief Economist of the World Bank.

Inflation Nation?

Feb. 7 2011 | Discussing the risk of inflation worldwide, with Greg Peters, Morgan Stanley Global Head of Fixed Income Research, and Richard Bernstein, CNBC contributor.

Geopolitical Risk of Inflation

Feb. 7 2011 | Assessing the geopolitical risk of inflation, with Keith McCullough, Hedgeye Risk Mgmt, and Richard Bernstein, CNBC contributor.

Steve Keen on Bear Radio: A moment of Minsky

Steve Keen on Bear Radio: A moment of Minsky , Professor Steve Keen.and Australian Economist

No Inflation - are you sure? Peter Schiff, Ron Paul, Nassim Taleb, Jim Rogers and Marc Faber

Is there no Inflation? Peter Schiff, Ron Paul, Nassim Taleb, Jim Rogers and Marc Faber

Marc Faber Belgium is completely irrelevant On the global scale

Marc Faber - Ter Zake 15 December 2010

Dr. Marc Faber on a Belgian Tv called Belgium together with other European PIIGS countries irrelevant on the world economic scene today , Belgium is part of the rotten apples in Europe together with Greece Portugal Spain Ireland ....DR DOOM Marc Faber, visionary and bestselling author of economic trends is the main guest on Outlook 2011. Marc Faber understands like no other art to deliver more accurate financial and economic trends to predict. And he is not afraid to back against the prevailing opinion should be granted.


Marc Faber :" I think what you need to avoid are government bonds , now can they rally for ten days ? it could be the case but in general you do not want to be in sovereign bonds certainly not of countries like Spain Portugal Greece Ireland Iceland and so forth , because they will have to be restructured , but the problem is usually when you have bad apples in your family the whole family becomes rotten and so all the European governments in my opinion will have government debts that probably will become difficult to pay off or even meet the interest payment on the government debt ....I am not interested in Belgium in the sense that the world has six billion people we have 1.3 billion people in China one billion in India , and I live in Asia , Asia 3.6 billion people , it is a growing region it is demographically young with the exception of Japan , and so I have a special knowledge about Asia and therefore I also invest in Asia and I have two or three investments in Switzerland but hardly any ....On the global scale whether Ireland exists or does not exist even if Spain exists or does not exist or Belgium exists or does not exist is completely irrelevant it is sad to think of oneself that I am completely irrelevant but that's the fact of economic life today..."

Joseph Stiglitz and Rogoff - INVESTMENT MAGAZINE Davos

Joseph Stiglitz and Rogoff - INVESTMENT MAGAZINE Davos The INVESTMENT - MAGAZINE - THE ORIGINAL- was founded in 1995. We publish three editions, one global, one for Asia and one germany, Austria and Szwiterland. Itappears with a German edition, a global issue and an Asian edition for more than 10 years as an independent magazine for investors and financial professionals.

Marc Faber : the only sound currencies are hard currencies like gold, silver

Marc Faber : ...Well, I wrote first about gold in 1998 when it was below $300 and then the low was at $252 an ounce in '99, and since then, I have been advising people to accumulate some gold. So, right now, obviously the price has gone up and we had the 10 year bull market, so I am a bit more cautious. But in general, because of the money printing I was referring to earlier, I don't think that there are any sound currencies anymore, paper currencies, and that the only sound currencies are hard currencies like gold, silver, platinum and palladium....
in www.bbc.co.uk

Marc Faber interview with BBC Business Daily 24th Jan 2011

Marc Faber interview with BBC's Business Daily 24th Jan 2011



Marc Faber : ...I am very negative about the world, because I think that what caused the crisis in 2008 was excessive credit growth, excessive leverage in the system, and now the private sector is deleveraging, but governments are printing money, and through huge fiscal deficits are creating even more debt growth. So in other words, what killed the economy is now being applied to revive the economy, and I think this will lead to a disaster. But if you think it through and you believe in the disaster scenario I'm envisioning, then you will be better off in equities and in commodities than in government bonds and cash...etc...

Marc Faber : The Indian stock markets could see a correction of around 20%

Marc Faber :.."...You have lost 8%, but before that, the Indian stock markets went up by more than 100%. So, 8% is a moderate correction which may continue from the top to the bottom. It would not be surprising to see a correction of around 20%....."
in www.moneycontrol.com

Marc Faber : I do not think I would necessary invest in Venezuela

Marc Faber :"...I do not think I would necessary invest in Venezuela and my concern about commodities and warrants on China, mainly economies that have larger exports to China than to the United States, is that some time in 2011 or 2012, there will be disappointments coming out of China. The most vulnerable assets are assets that are tied to the Chinese economy, precisely like industrial commodities, copper and currencies of countries like Australia and Canada and also their stock markets...."
in ET Now

BERNANKE SAYS THE FED ISNT PRINTING MONEY

BEN BERNANKE SAYS THE FEDERAL RESERVE ISN'T PRINTING MONEY , of course he does not , they just create money in the form of digits in computers hard drives....

Joseph Stiglitz : Job numbers less than expected

Columbia University Professor and Economist Joseph Stiglitz gives his opinion on the unemployment crisis and the economy at large

Marc Faber : food and energy inflation is more meaningful in Emerging Markets than in the United States.

Marc Faber : "....It has a lot to do with these issues. I am not saying it is the reason why investors should not be in emerging economies. But, food and energy inflation is more meaningful in an emerging economy than in the United States.
In a mature economy, where the GDP per capita is high, food is not a large percentage in the expenditure of a household whereas, in a country like India, Vietnam or Cambodia, food is a large percentage of expenditure. So, investors maybe concerned about this issue......"
in www.moneycontrol.com

Marc Faber : Gold or Silver

Marc Faber :.."...They move in the same direction, and silver is more volatile. Each individual has to decide himself what he prefers - a more volatile commodity or a more steady commodity. I prefer gold for a variety of reasons, but I can see that may be silver will outperform gold in a bull market. ..."
in ET Now

Rising World Food Prices

Just as Marc Faber predicted it , we are seeing food prices worldwide but especially in the Emerging markets skyrocket , people who has a dollar a day to spend find themselves struggling for survival , this triggers food riots which could sweep to the west too , cause the situation there also is not all rosy....

Marc Faber : Bernanke lies on inflation

Marc Faber : “The annual cost of living increases are more than 5% today and the Bureau of Labor Statistics is continuously lying about the inflation rate, including Mr. Bernanke. He’s a liar. Inflation is much higher than what they publish.I think that inflation is between 5% and 8% per annum in the US, and in Western Europe, a little bit lower, also 4-5% per annum.”..Marc Faber estimates that inflation in the US was currently Is Running Up To 8 per cent , and between 4 and 5 per cent in Europe. Marc Faber believes that Pakistan may be the next to fall into chaos after Tunisia and Egypt :
"You may not have a problem in Saudi Arabia and in the Emirates, in Kuwait and Qatar, because there the governments can heavily subsidize food if they want to. But I am worried that what has happened in Egypt will happen in Pakistan... I think Egypt is a reminder to people that politics, and social events, and geopolitics have a meaningful effect on asset markets. The developed markets have way outperformed, and now I think that it may be a wake up call that the US outperforms emerging economies for a while."



Feb. 2 (CNBC ): Inflation is far higher than official statistics reveal, Marc Faber, editor and publisher of the "Gloom, Boom and Doom" report told CNBC on Wednesday, with increases in the cost of living between five and eight percent in the United States and just below that in Europe.
(Bloomberg) -- Marc Faber, publisher of the Gloom, Boom & Doom report, discusses his investment strategy in emerging markets and the outlook for the U.S. recovery. He speaks from Troika Dialog's "Russia Forum" in Moscow with Andrea Catherwood on Bloomberg Television's "The Pulse."

Can Inflation Data Be Trusted?

Feb. 2 2011 | Discussing whether investors should fear inflation, with Vince Reinhardt, former FOMC monetary affairs director and Brett Arends, Wall Street Journal

Marc Faber : Inflation Higher Than Official Statistics Reveal

Feb. 2 2011 | Inflation is far higher than official statistics reveal, Marc Faber, editor and publisher of the “Gloom, Boom and Doom” report told CNBC on Wednesday, with increases in the cost of living between five and eight percent in the United States and just below that in Europe.

Marc Faber : Bernanke is a liar

Marc Faber on CNBC 02/02/11

Feb. 2 2011 | Inflation is far higher than official statistics reveal, Marc Faber, editor and publisher of the "Gloom, Boom and Doom" report told CNBC on Wednesday, with increases in the cost of living between five and eight percent in the United States and just below that in Europe.
Marc Faber : we are all doomed in the long run , what is happening in Egypt could happen in Pakistan ....Ben Bernanke is a liar he lies about the annual inflation rate in the United States ....

Marc Faber : New Crisis on Horizon Once Fed Support Ends

Feb. 2 (Bloomberg) -- Marc Faber, publisher of the Gloom, Boom & Doom report, discusses his investment strategy in emerging markets and the outlook for the U.S. recovery. He speaks from Troika Dialog's "Russia Forum" in Moscow with Andrea Catherwood on Bloomberg Television's "The Pulse."

Bernake and his crowd are latter going to have to chose: the stock maket, old bucky, or the bond market as none of the nonsense going on is substainable,. one of them is going to get thrown under the bus and if he really screws up which seeing how he has screwed up damn near everything all three may come down like a ton of hard rock at the same time.They won't be able to put Humpty Dumty back togther again next time if that happens.

Emerging Inflation Infection

Feb. 1 2011 | A look at the areas that are being hit with inflation the most, with John Rutledge, CNBC contributor; Peter Morici, University of Maryland and David Goldman, First Things Magazine.

Elizabeth Warren : Consumer Protections to Arrive This Summer

A new federal watchdog will be policing credit cards, mortgages and other financial products beginning this summer. Treasury Adviser Elizabeth Warren explains how the Consumer Financial Protection Bureau will impact consumers. (Jan. 31)



Life has become so difficult in the U.S and its not getting easier when the Government gets involved.

Eating healthy is complex and ridiculous. You pay off your debt and you're penalized by so bullshit clause hidden in the fine print.

Consumer's have NO protection. 4G is called 4G when it's NOT 4G.

No one is policing shit. A person can advertise whatever the fuck they want and no one says a fucking thing.

Marc Faber : in 2011 or 2012, there will be disappointments coming out of China

Marc Faber :"...I do not think I would necessary invest in Venezuela and my concern about commodities and warrants on China, mainly economies that have larger exports to China than to the United States, is that some time in 2011 or 2012, there will be disappointments coming out of China. The most vulnerable assets are assets that are tied to the Chinese economy, precisely like industrial commodities, copper and currencies of countries like Australia and Canada and also their stock markets. ..."
in ET Now 

Marc Faber : All central banks in the world will not increase interest rates above the rate of inflation

Marc Faber : ....All central banks in the world will not increase interest rates above the rate of inflation. In other words, they will keep essentially expansionary monetary policy, but it will create more problems and misallocation of capital. So, investors will begin to worry.....

Robert Prechter of Elliott Wave International on Goldseek Radio Jan. 28, 2011

Robert Prechter of Elliott Wave International Robert Prechter on Goldseek Radio Jan. 28, 2011


Elliott Wave International


Robert Prechter is founder and president of Elliott Wave International, the world’s largest independent financial forecasting firm. He has been writing market commentary since 1976. In 1984, Bob set a record in the options division of the U.S. Trading Championship with a real-money trading account. In December 1989, Financial News Network (now CNBC) named him "Guru of the Decade." Bob served for nine years on the national Board of the Market Technicians Association and in 1990-1991 served as its president. During the 1990s, he expanded his firm to provide round-the-clock analysis on global financial markets. Bob has written 13 books on finance, beginning with Elliott Wave Principle in 1978, which predicted a 1920s-style stock market boom. His 2002 title, Conquer the Crash - You Can Survive and Prosper in a Deflationary Crash and Depression, was a New York Times best-seller. In 1999, Bob received the CSTA’s first annual A.J. Frost Memorial Award for Outstanding Contribution to the Development of Technical Analysis. In 2003, Traders Library granted him its Hall of Fame award.
more at http://radio.goldseek.com >>>

Marc Faber : Obama is intellectually dishonest and nothing has changed.

Marc Faber :.."...I think what should happen in the US is for the president to tell the US, you have to tighten your belts. 'We have to go through hard times for 5 years to repair the damage that was committed over 20-25 years by the Federal Reserve, by the Treasury, by the politicians, and somebody has to tell the truth. But the politicians keep on fueling the illusion that you can spend yourself out of the misery, and that by printing money you will improve the economy, which is not the case...."

in Bloomberg

Marc Faber : Natural Gas is relatively inexpensive

Marc Faber :..".....I wish I knew, but I think natural gas is relatively inexpensive. In general, entry prices will go up in the next few years. We may have corrections. I do not know which asset class will be the best performing in 2011. I just can give you asset classes that are relatively inexpensive. These would relate to markets like the Middle East, Vietnam and Russia, which is still reasonably good valued. The big move in equity occurred between March 2009 and the end of last year, and in some markets, it was earlier in April 2010. From here onwards, the upward move will be much more difficult. ...."
in ET Now

Marc Faber : you will be better off in equities and commodities than in government bonds and cash

Marc Faber : ..."...I am very negative about the world, because I think that what caused the crisis in 2008 was excessive credit growth, excessive leverage in the system, and now the private sector is deleveraging, but governments are printing money, and through huge fiscal deficits are creating even more debt growth. So in other words, what killed the economy is now being applied to revive the economy, and I think this will lead to a disaster. But if you think it through and you believe in the disaster scenario I’m envisioning, then you will be better off in equities and in commodities than in government bonds and cash....."
in  www.bbc.co.uk

Marc Faber : US Treasuries are a suicidal investment

Marc Faber : "..... In the long-run, for sure US Treasuries and most government bonds are a suicidal investment. But as a shorter-term timeframe, and I think for the next three months or so, I think we have a situation where stock markets have become very overbought, and emerging markets in January, most of them failed to make new highs above the November, December highs, and recently some of them have sold off very considerably, plus the Chinese market is giving you a signal that something is not right in the Chinese economy, because it is going down. For the next three months you have to shift out of the Emerging Markets, they may correct 20-30%, out of industrial commodities, on a relative basis. And I think the sentiment, just recently, was overly optimistic on the reflation trade, and overly negative about treasury bonds, so treasury bonds right now are oversold, and as of tonight I got the buy signal on US Treasurys. I think Treasury are the best place for the next 3 months, as is the US dollar. I think a correction is coming in the range of 10% in the S&P and 20-30% in the emerging markets. ..."
in Bloomberg TV

Joseph Stiglitz : Euro volatility ahead

About Joseph Eugene Stiglitz
He is an American economist and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is also the former Senior Vice President and Chief Economist of the World Bank.Nobel prize-winning economics professor Joseph Stiglitz speaks to Axel Threlfall of Reuters Insider about the major themes of this year's World Economic Forum gathering in Davos, Switzerland.

Marc Faber : We have high inflation in Vietnam and China

Marc Faber :"...We have high inflation in Vietnam and China. If each of the central banks does not do anything, inflation will accelerate and eventually cause even more problems. If the central banks step in and tighten monetary conditions, it would not be very good for equities. ..."
in ET Now

Marc Faber : Sensex may test 16000 levels at least

Marc Faber : Correction in emerging markets on expected lines



Marc Faber : "....It was not entirely unexpected to me because since March 2009, emerging markets have significantly outperformed developed ones and through easy monetary policies in the US, we created bubbles in the emerging economies, particularly in terms of inflation. So, the emerging economies, having this excessive liquidity and high inflation, have to tighten here, or let inflation go and have problems later on. So some money is flowing out of emerging economies. ..."
via ET Now

Marc Faber : Bernanke cannot print Gold

Marc Faber : Cash at 0% doesn’t accumulate wealth either. The moment central banks implement monetary policies where they keep interest rates negative in real terms, in other words interest rates are lower than the rate of cost of living increases, then it is very difficult to value anything. The only thing I can say is, Mr Ben Bernanke, Chairman of the Federal Reserve, and other central banks, they can print an unlimited quantity of money, but you cannot print gold. Gold is limited by its annual supply of around 2,500 tonnes annually. So it is not that gold is going up, it is that the paper value of money, the purchasing power of money is going down vis-à-vis a unit of account, which is gold.
in www.bbc.co.uk

Steve Keen the causes of the Global Financial Crisis

The causes - Global Financial Crisis Event - Dr. Steve Keen

Marc Faber on Davos participants

Marc Faber :"...I dont think the 'thinkers' are in Davos. I think it's a group of liars, and people that go along with the system, and perpetuate fraud and abuse, and dubious practices in the financial system...."

Full interview with Bloomberg on 01/25/11 below :

Joseph Stiglitz sees euro volatility ahead

Nobel prize-winning economics professor Joseph Stiglitz speaks to Axel Threlfall of Reuters Insider about the major themes of this year's World Economic Forum gathering in Davos, Switzerland.

Rush Limbaugh agrees with Dr. Marc Faber

Rush Limbaugh - Marc Faber - At Lest Bush Never Prostituted Himself Like Obama
Rush Limbaugh plays a sound bite of Marc Faber of Gloom Boom And Doom and his comments on a liberal station about Obama was driving the host crazy.

Will The Inflation Virus Hit US?

Jan. 28 2011 | Insight on civil unrest in Egypt, inflation pressures worldwide, and more, with Don Luskin, Trend Macro; Thomas Belesis, John Thomas Financial; Jim Lacamp, Macroportfolio Advisors; and Evan Newmark, The Wall Street Journal.

Marc Faber : the accounting in Chinese companies is frequently very untransparent and questionable

Marc Faber :....Yes, that maybe the case, but I think for the average investor, rather than to invest in Chinese companies and stocks where the accounting is frequently very untransparent and questionable, if you really believe in China, then you buy oil or you buy industrial commodities or you buy the Australian or the Canadian dollar, or the Australian stock market. I mean there are better ways to play China than necessarily to invest in China.....
in www.bbc.co.uk

Fear of Global Stagflation

Jan. 25 2011 | Copper, oil and silver all fall on fears of slowing growth in Europe and rising rates in Asia

Marc Faber : we have clearly a bubble in China

Marc Faber : Well, I think in the case of China, we have clearly a bubble, if we define a bubble as an economy where credit growth is very strong and where interest rates are artificially low. But, will it burst tomorrow, in three months or in three years, who knows?

Davos Annual Meeting 2011 - What Is the New Economic Reality?

Davos Annual Meeting 2011 - What Is the New Economic Reality?



http://www.weforum.org 26.01.2011
The notion of a "new normal" is premature given the fragility of the global economy, but the elements of a new economic reality appear to now be in place.

In partnership with the World Economic Forum, Time magazine hosts this debate focusing on the elements of the new economic reality.

• Azim Premji, Chairman, Wipro, India
• Nouriel Roubini, Professor of Economics and International Business, Leonard N. Stern School of Business, New York University, USA; Global Agenda Council on Fiscal Crises
• Sir Martin Sorrell, Chief Executive Officer, WPP, United Kingdom
• James S. Turley, Chairman and Chief Executive Officer, Ernst & Young, USA
• Min Zhu, Special Adviser, International Monetary Fund (IMF), Washington DC; Member of the Foundation Board of the World Economic Forum; Regional Agenda Council on China

Moderated by
• Michael J. Elliott, Editor, Time International, and Deputy Managing Editor, Time Magazine, USA

Marc Faber : Obama has done a horrible job and nothing has changed

Marc Faber Expects 10% Drop in S&P 500, Says Stocks Expensive

Jan. 25, 2011 (Bloomberg) -- Marc Faber, publisher of the Gloom, Boom & Doom report, discusses the outlook for the U.S. economy and stock market. He speaks with Matt
Miller and Carol Massar on Bloomberg Television's "Street Smart."
Marc Faber : well I was very critical of Mr Bush but at least he had one line and he sticked to that line , he set out to do a scene and he was relatively straight on that scene that he did , he may have been wrong and I criticized him very frequently but at least he did not change his mind continuously and even prostitute himself ...we foreigners we just laugh , we just laugh at someone like president Obama ...well if you want me to be honest I think he has done a horrible job and I think that will continue I think he is basically a dishonest person and change ?!?! nothing has changed ...let's change the subject from politics to actually economics and to investment markets because in three days I have to go to the United States I do not want to be hasseled at the border


Marc Faber appeared on Bloomberg TV, in what may go down in history as his most scandalous interview ever.

Faber, who appears to have had enough with all the bullshit, propaganda, and lies, replies: Ben Bernanke should be disposed, and as for the president, "I think he's done a horrible job and I think that will continue, I think he is a dishonest person, and nothing has changed"...

Some politicians are more honest than others. I don't think that I have a very high regard for politicians, I have a high regard for businessmen and for people who work, and not for people who abuse the system continuously.

In comparison to other politicians, I think he came in on a platform as a president that would want to change the government in Washington, and actually he's made it worse...

We foreigners, we just laugh at someone like Mr. Obama.I agree with Marc .. Obama has done a horrible job and it will only get worse .. Good luck at the U.S. Customs and Boarder Service, Marc!

Marc Faber : I think the Euro will survive

Marc Faber : Well, I think the euro will survive, but as is the case in the US, the ECB is expanding its balance sheet, and that hates to see the balance sheet because the quality of the bonds they own must be of very poor quality and so, we will have to muddle through. But, in general, I believe some weaker countries or weaker members of the EU like Spain, Portugal, Greece eventually will default.
in www.bbc.co.uk

Inflation Around the World

Jan. 25 2011 | A look at the global hot spots when it comes to inflation and spiking food costs, with CNBC's Steve Liesman.

Marc Faber : we will have QE3

Economist Marc Faber, nicknamed Dr Doom, predicts disaster and advises buying gold. Cash at 0% doesn’t accumulate wealth either says Dr. Marc Faber : The moment central banks implement monetary policies where they keep interest rates negative in real terms, in other words interest rates are lower than the rate of cost of living increases, then it is very difficult to value anything. The only thing I can say is, Mr Ben Bernanke, Chairman of the Federal Reserve, and other central banks, they can print an unlimited quantity of money, but you cannot print gold. Gold is limited by its annual supply of around 2,500 tonnes annually. So it is not that gold is going up, it is that the paper value of money, the purchasing power of money is going down vis-à-vis a unit of account, which is gold, there are no sound currencies anymore , the only sound currencies are gold silver platinum and palladium , you cannot print gold unlike paper money says Dr. Marc Faber ....we clearly have a bubble in china , if you really believe in china , the way to play China is by buying oil industrial commodities Australian and Canadian dollars , because if there is strong growth in china the prices of commodities go up , for the average investor this is the best way to play china rather than investing in Chinese companies and stocks where the accounting is frequently questionable and in-transparent....there are better ways to play China than to invest in China , Marc Faber says that he believes the Euro will survive but that some weaker members like Spain Portugal Ireland Greece ... will eventually default....

Click Here to listen to the Interview >>>>: http://www.bbc.co.uk/i/p00d2wwj/

Food Inflation ETFs & Emerging Markets

Jan. 24 2011 | CNBC's Simon Hobbs takes a look at food inflation's price on the global markets.

Stiglitz discusses "Creating a Learning Society: An Agenda for Dynamic Societies in Uncertain Times"

Speaking at AUC The American university in Cairo Egypt , on the global economic crisis and its aftermath, winner of Nobel Prize in economics 2001 Joseph Stiglitz argued that for a learning society to develop, states must be able to fulfill five critical criteria: emphasize the importance of education, demonstrate openness to new ideas, allow competition, promote industrial policies such as a stable and fair exchange rate, and create an innovation system. "Where there are good policies and a comprehensive agenda required, this will make for a more interesting and dynamic society and economy," said Stiglitz, Columbia University professor and best-selling author.

Marc Faber identifies The golden trade for the next 3 years

Marc Faber :" ....In three years or 10 years time, precious metals will be higher than they are today. But we may have a correction coming in the next, say, three months. But in general, when I look at the risk and the reward, it is very likely that precious metals will continue to perform reasonably well. But if S&P drops to around 950, then the Fed will again massively ease and print money. So the surprise could actually be that in nominal terms, equity markets actually go up. They may not go up in gold terms, but they may go up quite strongly in nominal terms. So I would not be overly bearish about equities. "
in www.economictimes.indiatimes.com

Vince Stanzione - Trading Currencies and Commodities with IG Index

Vince Stanzione explains at his sold out Global Financial Trading Day how to profit from Currencies and Commodities using IG Index and Financial Spread Betting. See how he profits from teh fall in Oil prices and learn how the crowd and most IG Index customers think and act. 90% of all financial spread betting customers make little or now money - 10% make a fortune

David Morgan Interviews Eric Sprott 1-22-2011

David Morgan talks with Eric Sprott about future Gold to Silver ratios....1-22-2011

Gold was the investment of the last decade Silver is the Investment of this decade says Eric Sprott ...BUY THE SILVER NOW!..David Morgan and Eric Sprott discuss the gold to silver ratio. and much much more ...Eric Sprott is very well informed. The 3 men he listed, Ted Butler, Dave Morgan and Jason Hommel are among the smartest guys in the room when it comes to silver. The only guys you could add to that list would be James Turk, Adrian Douglas and Mike Maloney.

Jim Cramer Headlines GPCC Economic Outlook 2011 Conference

The Greater Philadelphia Chamber of Commerce's 13th annual Economic Outlook conference, presented in partnership with Firstrust Bank, featured Jim Cramer, host of CNBC's "Mad Money." View Jim Cramer talk about being back home in Philadelphia, his take on the economy and what he recommends to invest in now.

Paul Krugman interview with aljazeera January 22, 2011

Paul Krugman, The visionary economist and Nobel Prize winner shares his insights into international trade and finance , one on one interview with aljazeera TV . Paul Krugman, who was named Columnist of the Year by Editor and Publisher magazine, writes a twice-weekly column for the op-ed page of the New York Times. He is a professor of economics and international affairs at Princeton University, and the author or editor of 20 books and more than 200 professional journal articles

Systematic Risk, Systematic Regulation - BCLS 2010

Systematic Risk, Systematic Regulation: Banking Post-Financial Crisis

Blouin Creative Leadership Summit
September 23, 2010

Featuring
Matthew Bishop, US Business Editor and New York Bureau Chief, The Economist
Dr. Charles Calomiris, Henry Kaufman Professor of Financial Institutions, Columbia University Graduate School of Business
Joseph Wambia, CEO and Chief Investment Officer, WambiaCapital
Dr, Paul Wilmott, Founder, Wilmott.com
Josh Wolfe, Co-Founder and Managing Partner, Lux Capital


The global financial crisis was caused not only by insufficient financial regulation, but through misconceptions of the very models and instruments used to manage risk and price assets. What new models of risk need to be taken on by banks post financial crisis? How can banks continue to take risk and therefore maximize both shareholder and client value without causing systematic risk for the financial sector as a whole? Is regulation or innovation the answer?

Marvin Schwartz 2011 Predictions

Jan. 21 2011 | Strategy Session’s interview with legendary value investor Marvin Schwartz of Neuberger Berman moved markets. But the interview continued after the cameras stopped rolling.

AROUND THE WORLD WITH JOSEPH STIGLITZ - TRAILER

In this hard-hitting documentary about the perils and promises of globalization, Nobel laureate Joseph E. Stiglitz takes a tour of the world showing us how it can be made to work. Interviews with the president of Ecuador, African tribesmen, South American oil workers, angry farmers in India and the former president of Botswana reveal some of the paradoxes of our day--that while globalization is helping some countries, it has proved a disaster for others.

Marc Faber : I like Asian real estate

Marc Faber :"...Basically I am not very keen to buy emerging economies at the present time and I would rather lighten up positions. As far as the equity allocation between equities, bonds, cash and precious metals, commodities and real estate is concerned, that depends on every individual. It is like if you go to the doctor and you tell him ‘oh, what kind of pills shall I take?’ That depends very much on the individual, on the status of his health, on his ailments and so you cannot generalise.

But for me, I like Asian real estate, I like equities in Asia, I still like precious metals and I like in particular physical precious metals. I also own gold shares because I am the chairman of several resource related companies, mining companies in the exploration domain and so I own them. But my preference is for physical gold and silver and then I own real estate and I have some bonds not because I particularly like bonds, but I look at corporate bonds as kind of an equity with a relatively high dividend. ..."
in www.economictimes.indiatimes.com

Niall Ferguson : The Grand Strategy of Detente

Speaker: Professor Niall Ferguson
Chair: Professor Arne Westad
This event was recorded on 18 January 2011 in Old Theatre, Old Building
'Nixon goes to China' shattered the façade of Communist unity and dug the United States out of the hole it found itself in at the end of the 1960s. Critics have seen Nixon and Kissinger's policy as morally compromised, but was it actually the key to America's victory in the Cold War? Niall Ferguson is Philippe Roman Chair in History and International Affairs at LSE IDEAS for 2010-11.

Jim Cramer explains how the Stock Market is Manipulated

Jim Cramer Spills the beans he explains how the Stock Market is Manipulated ... Learn The Secret To Make Money whether the stock market is doing great or poorly!

Marc Faber : the dynamics in Oil Market between the demand and the supply look quite promising in the long run

Marc Faber : "....Yes, I am still positive about oil and I am aware that some analysts predict oil prices to drop to $30 and copper prices to drop 70%, but the fact is simply the oil demand now-a-days in emerging economies exceeds for the first time in the history of capitalism. The oil demand in the developed world and this oil demand in emerging economies will continue to go up. So the demand side looks quite strong.

On the other hand, you have prices between $70 and $80 and someone could argue well that that is a very high price and so maybe prices will temporarily decline - that may be the case. But I would like to point out that for any oil company to go and explore and drill for new oil, the oil price has to be around $70. Otherwise, they would not do it because the marginal cost of new production is around this level.

Secondly, unlike say a farmer who harvests, oil is a finite resource in the sense that once you pump it and you burn it, it is no longer there. The farmer can harvest his crop every year again and again and again. In the case of oil, once you pump it, it is gone and you use it. So in most countries, oil production is going down and oil reserves are going down. In other words, the world will hit one day peak oil, the way the US hit peak oil in 1970. So the dynamics between the demand and the supply side look actually quite promising in the long run. ..." via www.economictimes.indiatimes.com

Marc Faber : natural gas is cheap

Marc Faber : "...Each commodity is differently placed. In general, the price of natural gas is cheap while cotton price is on the high side. Grains will move according to supply issues. If the floods or droughts continue, then we will face disruption and prices could go higher. The asset markets are quite extended and the period of consolidation or serious correction could unfold...."

via www.moneycontrol.com

Marc Faber you should own some oil or energy equities

Marc Faber on CNBC 01/19/11

Jan. 19 2011 | Why the US and Europe will outperform emerging markets this year, with Marc Faber, Gloom, Boom & Doom Report, and Douglas Holtz-Eakin, American Action Forum.Marc Faber explains why developing economies might outperform Emerging Markets in 2011 , in either cases whether you are very bullish or very bearish you should own some oil or energy equities Dr Marc Faber says

Stiglitz urges South Africa to weaken rand

Nobel Memorial Prize winning economist professor Joseph Stiglitz has once again encouraged South Africa to take a more interventionist stance to weaken its exchange rate, saying that commodity-rich countries are correct to actively respond to the threat posed by over-valued currencies.



Moneris carries merchant supplies including
POS Terminals and processing equipment.

Joseph Stiglitz : Carbon mispricing delaying investment, crimping recovery

The current "mispricing" of carbon is a serious disincentive to investors with projects designed to "retrofit" economies for a lower carbon future and to investments that would help stimulate still flagging global aggregate demand and job creation, Nobel award-winning economist Professor Joseph Stiglitz argues.

Marc Faber : The US and Europe economies may outperform The emerging markets

Marc Faber :"...Yes. The emerging economies’ stock markets have outperformed the US significantly over the last 18 months since March 2009. We might have a period in which the more mature economies like the US and Europe can outperform emerging markets...."
via www.moneycontrol.com