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Related: About this forumPaul B. Farrell: How Bernanke will cause the next crash before 2014
How Bernanke will cause the next crash before 2014
Commentary: Rich will lose 50% in massive wealth destruction
By Paul B. Farrell, MarketWatch
SAN LUIS OBISPO, Calif. (MarketWatch) Massive wealth destruction coming, warns Hong Kong economist Marc Faber, one of many Dr. Dooms weve featured over the years.
Faber warned in a recent interview on CNBC: The Super-Rich may lose up to 50 percent of their total wealth.
How? Somewhere down the line we will have a massive wealth destruction. That usually happens either through very high inflation or through social unrest or through war or credit-market collapse. And as if to punctuate his message, in Barrons recent Midyear Roundup, Faber was asked, Will things get worse before they get better?
Answer: Yes, possibly much worse, adding most markets peaked in May 2011. He expects further weakness in the second half of the year. Corporate profits will disappoint stock markets are oversold. The U.S. government-bond market is overbought. The U.S. dollar is overbought, and gold is oversold near term. Worse, hes very negative about the outlook longer term. .............(more)
The complete piece is at: http://www.marketwatch.com/story/how-bernanke-will-cause-the-next-crash-before-2014-2012-07-17
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Paul B. Farrell: How Bernanke will cause the next crash before 2014 (Original Post)
marmar
Jul 2012
OP
"through very high inflation or through social unrest or through war or credit-market collapse"
lumberjack_jeff
Jul 2012
#1
lumberjack_jeff
(33,224 posts)1. "through very high inflation or through social unrest or through war or credit-market collapse"
... or locusts, frogs and incurable boils, you know... whatever.
I like a little more specificity in end of the world predictions.
snappyturtle
(14,656 posts)2. Must read,,,,even for people like me who do not have or no longer
have investments. I'm going to being researching this more
now to position my poor self the best I can before 2014. If
you want to know why...READ the article!
THANKS marmar!
Edit: Here's a 'teaser' ........
Unfortunately, since Wall Street simply went back to business as usual after the 2008 Crash, fighting all reforms, a new crash is not only easy to predict in the 2013-2014 period, we can also predict that it will be far more deadly for Wall Street banks, the American economy, taxpayers, investors, consumers and retirees.