marc-faber

Roubini’s Advice: Lend, Hope, Pray

Filed in BP, euro, Gold, GOld juniors, marc-faber, o, Quantitative Easing, recession, silver, Sprint by on December 15, 2010 0 Comments
Roubini’s Advice: Lend, Hope, Pray

Here’s the latest from Dr. Doom. He thinks the best strategy is to lend, hope and pray… From The Telegraph by Richard Blackden entitled: Nouriel Roubini: ‘The economic policy is still lend, pray and hope’ “ Nouriel Roubini, a New York professor of Iranian origin, expects China, India and Brazil to collectively grow at 6.3pc in 2011, more than triple the 2.1pc he predicts the developed economies will muster. “The good news about advanced economies is that the tail-risk of a double-dip recession has receded,” Mr Roubini said as he presented his outlook for 2011 at the office of Roubini Global Economics in Greenwich Village, New York. The picture echoes the consensus forming in financial capitals that it will again be the emerging economies that are sprinting, while consumers and governments elsewhere repair balance sheets that were stretched to breaking point during the crisis. Among the Western laggards, Roubini expects the US to enjoy the fastest growth – at 2.7pc – as a combination of quantitative easing (QE) and the tax cuts agreed last week in Washington provide some support. Germany follows at 2.2pc, down from 3.5pc in 2010, while the UK will grow 1.7pc, slightly weaker than this year’s 1.8pc. Mr Roubini, who rejects the accusation that he is a natural pessimist, says the greatest risks to this scenario unfolding lie in the next six months and come from the troubled eurozone. “The risk of something disorderly happening is still significant,” he explained. “At the moment, the policy is still lend, pray and hope this is a liquidity problem and not a solvency problem.” Related Articles: Roubini: 40 Percent Chance of a Double Dip Roubini on Greece: The Tip of the Iceberg Marc Faber: “Governments have become like a cancer” To learn more about Wealth Daily click here Advertisement I Just Witnessed the Impossible Not far from the U.S. Capitol, a tiny $0.62 tech firm unlocked the secret to harnessing solar energy — at ANY time, from ANY window! It’s so efficient and affordable that CNBC is calling it energy’s “Silver Bullet.” Before the first big ticket contract comes, through— doubling the share price — click here for your exclusive video footage. Roubini’s Advice: Lend, Hope, Pray originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

Continue Reading »

Gold Still Inexpensive Says Marc Faber

Speaking at a CLSA Investors’ Forum 2010 in Hong Kong recently, Marc Faber said he still sees gold prices as relatively inexpensive, even though record prices continue to be set. Faber gave his reasoning as this, “Given all the unfunded liabilities and the money printing in the world and the size of the financial assets in the world, I don’t think we are in a bubble.”He’s definitely right. At

Continue Reading »

Roubini: 40 Percent Chance of a Double Dip

Filed in Decoupling, economy, euro, Gold, Gold Market, marc-faber, recession by on September 7, 2010 0 Comments
Roubini: 40 Percent Chance of a Double Dip

Here’s the latest take on the world economy from economist Nouriel Roubini. Needless to say, he’s still bearish…. From CNBC by Patrick Allen entitled: More than 400 US Banks Will Fail: Roubini “ Even if the US and European economies manage to avoid a double dip, it will still feel like a recession, while more than half of the 800-plus US banks on the “critical list” are likely to go bust, according to renowned economist Nouriel Roubini of Roubini Global Economics. The second half of the year will remain weak as tailwinds become headwinds, Roubini told CNBC on the shores of Lake Como, Italy at the Ambrosetti Forum economics conference. “In the second half, fiscal policy becomes a headwind, no more cash for clunkers,” Roubini said. “The positive scenario is that growth will be below par.” Roubini recently said the chance of a double-dip recession in the US was now more than 40 percent. “The big risk is that there will be a downturn in markets that could impact the bond, the equity and the credit markets,” he said. “ Job losses have been higher, the US jobs number will show that. There is no private sector jobs growth,” he said. “Consumption is weak, exports are weak and housing is weak.” “If there is no final sales and no final demand, companies will not invest,” he added. Roubini said he believes hopes of decoupling will be dashed as the slowdown in the US impacts China, Japan and the euro zone. “In Europe, Germany is strong but the rest of the continent is pretty dismal,” he said. “The rest of the world cannot cope without the prop of the US consumer. Chinese growth in the second half will be 7 percent.” “ Get used to it,” Roubini said. “Deleveraging has to continue as governments and consumers deleverage in the developed world.” ‘We have to expect the new normal,” he added. “We do not need a double dip for it to feel like recession.’” Related Articles: Roubini on Greece: The Tip of the Iceberg Marc Faber: “Governments have become like a cancer” Greece Cut to Junk The Chinese Bubble and the Ghost City of Ordos To learn more about Wealth Daily click here Advertisement Your IRA and 401(k) are in Washington’s sights… But you’ll never hear about it in the mainstream media until it’s too late to save your retirement assets . Click HERE for the “guerilla wealth” secret to keeping your hard-earned nest-egg in your own hands – and perhaps even growing it by 378

Continue Reading »

Afghanistan’s Biggest Bank Hopes to Join the Troubled List

Filed in economy, Gold, GOld juniors, marc-faber, shares by on September 2, 2010 0 Comments
Afghanistan’s Biggest Bank Hopes to Join  the Troubled List

According to the FDIC, the government’s list of problem banks is now at its highest level since 1993. In all according to the most recent data, 829 banks are now at the risk of failure, up 53 from the 755 from the first quarter of this year. That’s on top of the 118 banks that have closed this year including the 45 closings during the most recent quarter. That’s troublesome since the FDIC fund set aside to potentially bailout these troubled institutions is itself already $15.2 billion in the red! But as bad as that is that’s not exactly the banking story that has me so worked up today Instead, it’s the prospect of bailing out the biggest bank in Afghanistan that has me so irked today that I can barely type out this rant. After all, everyday I ask myself what exactly in the hell is going on over there. First it’s our blood and now it’s been suggested that we donate even more of our treasure. Either way, I’m certain that this stone age paradise will never be worth any of it. As for the story it is by Andrew Higgins and Ernesto Londono entitled: Karzai’s brother calls for U.S. to shore up Kabul Bank as withdrawals accelerate “ As depositors thronged branches of Afghanistan’s biggest bank, Mahmoud Karzai, the brother of the Afghan president and a major shareholder in beleaguered Kabul Bank called on Thursday for intervention by the United States to head off a financial meltdown. “America should do something,” said Karzai in a telephone interview, suggesting that the U.S. Treasury Department guarantee the funds of Kabul Bank’s clients, who number about a million and have …

Continue Reading »

Art Cashin Eyes 1066 on the S&P

Filed in GOld juniors, Gold Market, marc-faber by on August 30, 2010 0 Comments

As the summer winds down, here’s the latest from CNBC’s Art Cashin. With the Labor Day holiday looming and light volume likely, Art expects a volatile week. Either way, the payroll number on Friday promises to a big one—as usual. Related Articles: Art Cashin: “More shoes than Imelda Marcos” Art Cashin on the Market Crash Meredith Whitney Predicts a Housing Double-Dip Marc Faber: “Governments have become like a cancer” To learn more about Wealth Daily click here Advertisement Beat Big Pharma to the Profits on A Breakthrough That’s Bigger Than Penicillin Right under the nose of the drug giants, this small American company has developed the genetic key to eradicating the world’s deadliest diseases — influenza, malaria, HIV, and many of the major killer cancers … Get in on this tiny stock before news of their breakthrough “cell-shock” technology gets out — and your chance at 1000 times your money is gone forever. Art Cashin Eyes 1066 on the S&P originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

Continue Reading »

The Good Works of Bill Gates and Warren Buffett

Filed in ceo, Gold, GOld juniors, marc-faber by on August 5, 2010 0 Comments
The Good Works of Bill Gates and Warren Buffett

Needless to say, I’m not exactly a big fan of the inheritance tax. Instead, I’d like to see people given the chance to make altruistic decisions on their own— without their pockets being picked clean by the government. After all, as the tax burden rises the ability of individuals to give to the charities of their choice begins to shrink. That robs people of one of the most basic human instincts which is to selflessly help others. And while that may seem like an idea that washed ashore from Fantasy Island—I think people really would open their wallets more often if there was something left in them. I mean why should the rich be the only ones who are afforded the opportunity to really help others? By the way , when it comes to charitable giving, there aren’t many people who can top Bill Gates and Warren Buffett. From msnbc.com entitled: 40 billionaires pledge to give away half of their wealth “ A little over a year after Bill Gates and Warren Buffett began hatching a plan over dinner to persuade America’s wealthiest people to give most of their fortunes to charity, more than three-dozen individuals and families have agreed to take part, campaign organizers announced Wednesday. In addition to Buffett and Gates — America’s two wealthiest individuals, with a combined net worth of $90 billion, according to Forbes — 38 other billionaires have signed The Giving Pledge . They include New York Mayor Michael Bloomberg, entertainment executive Barry Diller, Oracle co-founder Larry Ellison, energy tycoon T. Boone Pickens, media mogul Ted Turner, David Rockefeller, film director George Lucas and investor Ronald Perelman. “We’re off to a terrific start,” Buffett, co-founder and chairman and CEO of Berkshire Hathaway, said in a conference call also attended by Bloomberg and San Francisco hedge-fund manager Tom Steyer and his wife Kat Taylor, founder of OneCalifornia Bank. Buffett said he and Gates, the Microsoft co-founder, and Gates’ wife Melinda made calls to fellow billionaires on the Forbes 400 list of wealthiest Americans — in many cases, people they had never met — to try to persuade them to join the giving pledge. “We contacted between 70 and 80 people to get the 40. A few were unavailable. We don’t give up on them. Every saint has a past, every sinner has a future. We’ll keep on working,” Buffett said. Bloomberg, who made the bulk of his estimated $17.5 billion fortune from financial news and information services company Bloomberg L.P., said it didn’t make sense to leave everything to his children and have them go through life as members of “the lucky sperm club.” The United States has roughly 400 billionaires — about 40 percent of the world’s total — with a combined net worth of $1.2 trillion, according to Forbes. If they all took the …

Continue Reading »

NovaGold’s (AMEX:NG) Donlin Creek Getting More Expensive?

Now that NovaGold (AMEX:NG) losses have mounted over the last quarter, they are getting more aggressive in pursuing capital to work on their Donlin Creek project, which is by far their most important mine. They are in a 50/50 partnership with mining giant Barrick Gold Corp. (NYSE:ABX) in the project. Either the costs at the project are increasing, or NovaGold is pushing harder to get it going,

Continue Reading »

NovaGold (AMEX:NG) Places Marc Faber on Board

Marc Faber has been appointed to the board of NovaGold Resources (AMEX:NG) (TSE:NG), according to a company press release today, along with Igor Levental. Faber is of course the publisher of the popular The Gloom, Boom & Doom Report, and ubiquitous in the financial media, who love to get his contrarian view on all things economic. “Dr. Faber and Levental are among the brightest minds in the

Continue Reading »

Art Cashin: "More shoes than Imelda Marcos"

Filed in Gold, GOld juniors, Gold Market, lead, marc-faber by on June 24, 2010 0 Comments
Art Cashin: "More shoes than Imelda Marcos"

Here’s the latest word today from CNBC’s Art Cashin. Along with Meredith Whitney, he sees signs of a double dip. More shoes than Imelda Marcos… Great Stuff Art…but you did lose me there at the end with the Cuban Missle Crisis. Related Articles: Art Cashin on the Market Crash Meredith Whitney Predicts a Housing Double-Dip Marc Faber: “Governments have become like a cancer” To learn more about Wealth Daily click here Advertisement BP Changes Oil Forever… and Hands You a Shot at 508% Gains Thanks to the catastrophic Gulf oil spill, the oil industry is being transformed before our eyes. Oil is about to make a huge move back onto land… and these 3 small American companies are already in prime position to lead the charge. Find out how you can piggy bank their good fortune all the way to 508% gains by July 2012. Art Cashin: “More shoes than Imelda Marcos” originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

Continue Reading »

Marc Faber: "Governments have become like a cancer"

Marc Faber: "Governments have become like a cancer"

Needless to say, but when you write something called “The Gloom, Boom & Doom Report” you lean towards the morose. Here’s the word from Marc Faber at his bearish best…. From CNBC by Antonia Oprita entitled: Government Expanded ‘Like a Cancer’: Marc Faber Governments have intervened too much in free markets since the crisis started, to the point that they are affecting the health of the world economy, Marc Faber, the author of “The Gloom, Boom & Doom Report” told CNBC Thursday. Later on Thursday, leaders of the 27 European Union member states will discuss ways of strengthening fiscal discipline in the bloc and tightening financial regulation to prevent another economic crisis. In the US, despite criticism about the way it handled the crisis, the Federal Reserve is set to become the most powerful financial regulator under a financial reform bill being discussed in Congress. “I think that governments have become like a cancer, they have expanded in the financial system,” Faber said. “I think the biggest problem is too much intervention. Whatever the government touches is usually done worse than in the private sector,” he said. Markets usually give signals when something goes wrong but, if the government is to intervene, as is the case of the European Central Bank, the Federal Reserve and the Bank of England’s bond buying, government intervention hides these signals, according to Faber. “I think any government intervention has unintended consequences and is negative,” he said. When there is intervention, “eventually the market will break the intervention and things will blow out.” Supporters of past government interventions to boost money in the economy have said that without them the world economy would have been in much worse shape now, with unemployment much higher and more companies going bankrupt. “Yes I am familiar with this line of argumentation,” Faber said. “The Keynesians will all say … we would be in a depression now. But it’s not clear to me that this is correct.” In that regard, here’s an interesting video from abroad where Faber discusses his market outlook. Good stuff. Related Articles: Black Swan: ‘Don’t give a debt junkie more debt’ The $19.6 Trillion Debt Bomb Ron Paul on the Euro, Greece, and The Fed Roubini on Greece: The Tip of the Iceberg To learn more about Wealth Daily click here. Advertisement How You Could Make 508% Gains Off the End of Offshore Drilling Deep-sea drilling is

Continue Reading »

Marc Faber, Jim Rogers Continue to Hold Gold

Confusion over the daily fluctuation of the markets based on little snippets and tidbits of news can drive even the most astute trader or speculator batty, but in the case of gold, investors and pundits like Marc Faber and Jim Rogers aren’t confused at all, and they both say they have no intention of selling their gold, and are always on the lookout for dips so they can acquire more.Without

Continue Reading »

Marc Faber on BNN in Canada 5/7/10: Dr. Doom on the Economy

Filed in economy, Gold Spot Market, marc-faber by on May 8, 2010 0 Comments

WRH permalink

Continue Reading »