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Wednesday, January 26, 2011

Marc Faber Says President Obama is a Prostitute

Referenced via The Daily Crux with transcription and commentary provided by Zero Hedge:

Earlier, Marc Faber appeared on Bloomberg TV, in what may go down in history as his most scandalous interview ever. When asked, in advance of the SOTU address, what he thinks of the president, Faber, who appears to have had enough with all the bullshit, propaganda, and lies, replies:

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. And 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 worseWe foreigners, we just laugh at someone like Mr. Obama. I was very critical of Mr. Bush, but at least he had one line and he stuck to that line, and at least he set out to do a thing and he was relatively straight on the thing that he did. He may have been wrong, but at least he didn’t change his mind continuously, and didn’t prostitute himself.”

If nothing else, how many other people do you know who will compare, in front of a live Bloomberg audience, the president of the formerly greatest country in the world to a whore?

As for what Faber thinks the real state of the union address should be, he says:

“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.”

On the topic of the Fed and relative performance:

You don’t know. Maybe [Bernanke] will resign. After he sees the disaster he has created he may resign. Or he may be disposed, who knows. But all i want to say is in terms of investments we have a very interesting situation, because from the March lows, the EM universe has performed fantastically well, and industrial commodities have done fantastically well, and the US has underperformed everything. And now we have a change: the US may outperform, it may not go up, but may go down less than emerging markets.

On his latest opinion on Treasurys

In the long-run, for sure US Treasurys 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.

On all the current batch of Davos participants:

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.

As for what he thinks of Keynesianism, and gold, well, we’ll just let you hear that for yourselves.

Author: Mac Slavo
Date: January 26th, 2011
Visit the Author's Website: http://www.SHTFplan.com/

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Saturday, January 8, 2011

Do you think this Constitution-loving is getting out of hand?

Author: Mac Slavo

Joy Behar and Bill Press discuss Republicans’ announcement that the Constitution will be read when the new Congress is convened:

Behar: Do you think this Constitution-loving is getting out of hand? I mean, is it a nod to the Tea Party? What is this about, exactly? And, Is it the first time a lot of congressmen will have heard about it, read it?

Press: First of all, I think on the one hand, it’s hooray for Hollywood. It’s just a so obvious - publicity stunt. I gotta tell you there could be some benefit here, because I think most Republicans haven’t read the Constitution, to be honest. I hope they listen carefully. There’s some good stuff in there about the right of privacy they probably never heard before. There’s something in there that says only Congress can declare war, not a President of the United States. I bet they never heard of that before.

Behar: Probably never did.

Ms. Behar’s questioning of the reading of the Constitution in Congress comes on the heels of another mainstream media analyst who takes issue with Constitution loving. MSNBC’s Ezera Klein recently said, “the issue of the Constitution is that the text is confusing and was written more than one hundred years ago.” According to Ezra, people don’t read the text of the document and believe they’re following something that isn’t actually in it.

One example of someone who may or may not have read the document is Bill Press who seems a bit confused himself. He is apparently unaware that no such “right to privacy” is defined in the Constitution. Our founding document does, however, provide protections in the fourth amendment so that the people are secure in their persons, houses, papers, and effects, against unreasonable searches and seizures without probable cause or a warrant. It seems neither Joy Behar, Bill Press, DHS chief Janet Napolitano, or President Obama read that particular portion of the Constitution when they were supporting and/or implementing new security screening procedures at the Nation’s airports. The California Supreme Court itself may have failed to read the founding documents, as evidenced by a recent decision which claims law enforcement has the right to search the cell phone of anyone taken into custody when placed under arrest in the state. Examples like this pervade our country and lead to thousands of Constitutional violations by federal and state officials every day.

While it can’t be denied that many of the Republicans in Congress are in it to make a show of the reading of the Constitution, We the People are somewhat bemused that our politicians didn’t think of it sooner, especially when you consider that Congressional representatives take an oath which specifically says:

“I do solemnly swear (or affirm) that I will support the Constitution of the United States.”

It may be in the best interests of the country for those representing us in the Federal government to not only read the Constitution every time a new Congress convenes, but to take a preliminary pass or fail assessment prior to their their names being added to the ballot. The assessment would simply ask potential House and Senate candidates to match the amendment number with what it actually says. We could even standardize the test with multiple choice answers to ensure the test is culturally and socially sensitive.

When you take an oath to support or uphold something, it’s usually a good idea to understand what that entails.

Author: Mac Slavo
Date: January 5th, 2011
Visit the Author's Website: http://www.SHTFplan.com/

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