Who on Earth Would Have Faith in Obamanism?
No One Who Thinks, Says Marc Faber
by Marc Faber
Recently by Marc Faber: The Frame of Mind of American Economic Policymakers
The latest Marc Faber pretty much agrees with what we've been saying in relation to yet another stimulus plan will be undertaken as the "real economy" does not heal on it's own; he does believe the massive monetary stimulus will create a longer "fake recovery" than we do, but I suppose that is dependent on how big the next stimulus plan(s) will be, how soon the $15,000 cash for clunker housing program begins, when the next Cash for Clunker cars program begins, and how long the Fed (as it talks about green shoots) continues to keep interest rates at 0—0.25% and mortgage rates near 5%.
Then after all that sugar rush, he says we begin to pay the price. (Marc is in rare form between the 4 and 7 minute mark)
Question: You have no faith in the administration's ability to wind back stimulus and start dealing with that program?
Marc: Are you joking (while laughing) — having faith in the US administration? I wonder WHO on Earth would have faith in the US administration. Certainly, not someone who thinks!
September 5, 2009
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