Thread: Financial advice for Backspin

‘Dr Doom’ Predicts Very Hard Times Ahead: Marc Faber

Marc Faber is an economist and investor well known in the finance sector.

He lives in Chiang Mai, it would be interesting to see if any of our Chiang Mai residents have came across him.

In this interview he gives the worst performance I think I have ever witnessed regarding investing. Definite Doom and Gloom.

He looks like he is on the piss and it is all the interviewer can do to stifle a laugh at his meaningless and hard to fathom answers.

I seem to remember (SoCal) Backspin saying he would love to meet him.

Would be a marriage made in heaven if you ask me!

Dr Doom (whom I have met) has done a lot better than his clients.

^
well spill the beans, what was he like. Is he really as big a contrarian as he portrays himself?

He seems a nice enough guy himself Icey, I met him a few times in HK. He made/ makes his money from managing client funds, plus selling his Boom Gloom & Doom report.

We had a Dr Doom- Marc Faber of course, and a Dr Boom- Dr Mark Mobius of Templeton, peddling their wares in HK during the 90's. Both used their somewhat different perspectives and unique persona for marketing purposes, and being in the business ourselves I saw them around town a fair bit at functions, seminars & so on.

They were both right about one thing- Emerging Markets, and the China story. I'm talking the late 90's here, before it was fashionable to be so. We actually invested a fair bit of money with Templeton EM funds, but I wasn't an apostle of Dr Doom. He seems to have done quite well though- I doubt he invested everything in his own funds.

Originally Posted by Iceman123

‘Dr Doom’ Predicts Very Hard Times Ahead: Marc Faber

Marc Faber is an economist and investor well known in the finance sector.

He lives in Chiang Mai, it would be interesting to see if any of our Chiang Mai residents have came across him.

In this interview he gives the worst performance I think I have ever witnessed regarding investing. Definite Doom and Gloom.

He looks like he is on the piss and it is all the interviewer can do to stifle a laugh at his meaningless and hard to fathom answers.

I seem to remember (SoCal) Backspin saying he would love to meet him.

Would be a marriage made in heaven if you ask me!

I still do want to meet him. It's amazing how many ppl think that there's black magic in money printing. He knows there isn't. I know there isn't.

They've got away with taunting the gods of inflation for 10+ years but they won't get away with it forever. The more days that pass just means with are inevitably closer to the inflationary smash

Originally Posted by Backspin

They've got away with taunting the gods of inflation for 10+ years but they won't get away with it forever. The more days that pass just means with are inevitably closer to the inflationary smash

The thing with people like you and predictions like this is that they are so open-ended that any up/downturn is met with 'I told you so' flashes of self-righteous brilliance.
At least the God-botherers fall on their face when they foretell the end of the world with a precise date.

Originally Posted by sabang

They were both right about one thing- Emerging Markets, and the China story.

Emerging markets and China have been on the radar ever since I have been working - based on population and potential alone. Even India is a good market.

Originally Posted by panama hat

The thing with people like you and predictions like this is that they are so open-ended that any up/downturn is met with 'I told you so' flashes of self-righteous brilliance.
At least the God-botherers fall on their face when they foretell the end of the world with a precise date.


t.

There is no guessing here. Even a 14 year old could probably figure out that government through central banks can't just print money. Or do you think central bank balance sheet expansion really isn't printing money ?

I would agree with Dr gloom and doom, It's coming, who knows when is the big question, I was hoping that Trump had the balls to put an end to it and call the bets last presidency, looked like it was heading that way with energy self-sufficiency, But BOOM back to the petro dollar.

Originally Posted by Backspin

There is no guessing here.

No shit, Sherlock

Originally Posted by Backspin

Or do you think central bank balance sheet expansion really isn't printing money ?

I like the idea they came up with," Hey, we will print you your money and you can pay us interest" except you are printing the money and we are just keeping tabs, Ok last year you printed 4 trillion now you have pay us a percent.

Originally Posted by havnfun

I like the idea they came up with," Hey, we will print you your money and you can pay us interest" except you are printing the money and we are just keeping tabs, Ok last year you printed 4 trillion now you have pay us a percent.

...unfortunately, you may be the only one who understands your "idea"...

Here is a nice slow paced video to show you how it all came to be.

Originally Posted by Backspin

There is no guessing here. Even a 14 year old could probably figure out that government through central banks can't just print money. Or do you think central bank balance sheet expansion really isn't printing money ?

The Feds have been printing money for 12 years now. When is this something, which you haven't even defined, going to happen? You haven't a clue what you are talking about.

Yup . . .

Originally Posted by elche

The Feds have been printing money for 12 years now. When is this something, which you haven't even defined, going to happen? You haven't a clue what you are talking about.

Originally Posted by panama hat

The thing with people like you and predictions like this is that they are so open-ended that any up/downturn is met with 'I told you so' flashes of self-righteous brilliance.
At least the God-botherers fall on their face when they foretell the end of the world with a precise date.

Originally Posted by elche

The Feds have been printing money for 12 years now. When is this something, which you haven't even defined, going to happen? You haven't a clue what you are talking about.

Tell me that these quotes don't describe what we've been experiencing since 2009.

"The life of the inflation in its ripening stage was a paradox which had its own unmistakable characteristics. One was the great wealth, at least of those favored by the boom..Many great fortunes sprang up overnight...The cities, had an aimless and wanton youth"

"Side by side with the wealth were the pockets of poverty. Greater numbers of people remained on the outside of the easy money, looking in but not able to enter. The crime rate soared."

"Prices were steady, and both business and the stock market were booming. The exchange rate against the dollar and other currencies actually rose for a time, and the mark was momentarily the strongest currency in the world" on inflation's eve.

"Accounts of the time tell of a progressive demoralization which crept over the common people, compounded of their weariness with the breakneck pace, to no visible purpose, and their fears from watching their own precarious positions slip while others grew so conspicuously rich.

"Almost any kind of business could make money. Business failures and bankruptcies became few. The boom suspended the normal processes of natural selection by which the nonessential and ineffective otherwise would have been culled out."

"Speculation alone, while adding nothing to wealth, became one of its largest activities. The fever to join in turning a quick buck infected nearly all classes..Everyone from the elevator operator up was playing the market."

^ Those quotes were from a book about the 8 years leading up to the 1923 hyperinflation in Weimar Germany. To answer your question. "Throughout these years the structure was quietly building itself up for the blow. Germany's #inflationcycle ran not for a year but for nine years, representing eight years of gestation and only one year of #collapse."

Anyways Elche. Tell me that this doesn't describe the economy since 09

Originally Posted by Backspin

Tell me that these quotes don't describe what we've been experiencing since 2009.

"The life of the inflation in its ripening stage was a paradox which had its own unmistakable characteristics. One was the great wealth, at least of those favored by the boom..Many great fortunes sprang up overnight...The cities, had an aimless and wanton youth"

"Side by side with the wealth were the pockets of poverty. Greater numbers of people remained on the outside of the easy money, looking in but not able to enter. The crime rate soared."

"Prices were steady, and both business and the stock market were booming. The exchange rate against the dollar and other currencies actually rose for a time, and the mark was momentarily the strongest currency in the world" on inflation's eve.

"Accounts of the time tell of a progressive demoralization which crept over the common people, compounded of their weariness with the breakneck pace, to no visible purpose, and their fears from watching their own precarious positions slip while others grew so conspicuously rich.

"Almost any kind of business could make money. Business failures and bankruptcies became few. The boom suspended the normal processes of natural selection by which the nonessential and ineffective otherwise would have been culled out."

"Speculation alone, while adding nothing to wealth, became one of its largest activities. The fever to join in turning a quick buck infected nearly all classes..Everyone from the elevator operator up was playing the market."

^ Those quotes were from a book about the 8 years leading up to the 1923 hyperinflation in Weimar Germany. To answer your question. "Throughout these years the structure was quietly building itself up for the blow. Germany's #inflationcycle ran not for a year but for nine years, representing eight years of gestation and only one year of #collapse."

Everything you have cut and pasted in the foregoing is so ambiguous that it could have been said at anytime over the last half century. Crime, poverty, inequality and inflation have always been with us and the sky has never fallen. These have been and will continue to be challenges for societies, but we all have become wealthier and healthier, the exact opposite of what you are trying to forecast (doom and gloom and Armageddon), over the last 50 years or more.

Btw, if you are referring to the stock market, economists and historians will tell you that the stock market is not the economy. Don't confuse the two.

Originally Posted by elche

Everything you have cut and pasted in the foregoing is so ambiguous that it could have been said at anytime over the last half century. Crime, poverty, inequality and inflation have always been with us and the sky has never fallen. These have been and will continue to be challenges for societies, but we all have become wealthier and healthier, the exact opposite of what you are trying to forecast (doom and gloom and Armageddon), over the last 50 years or more.

Btw, if you are referring to the stock market, economists and historians will tell you that the stock market is not the economy. Don't confuse the two.

Oh really Elche. Get your facts straight. US life expectancy fell for 4 years BEFORE the pandemic.

Life Expectancy and Mortality Rates in the United States, 1959-2017 | Psychiatry and Behavioral Health | JAMA | JAMA Network

Between 1959 and 2016, US life expectancy increased from 69.9 years to 78.9 years but declined for 3 consecutive years after 2014.

Record amount of young people live with their parents. Same as in the great depression.

More Young People Living With Their Parents Than In The Great Depression, Report Says



Birth rates were falling for 4 years and making record lows before the pandemic.

U.S. Births Continue to Fall, Fertility Rate Hits Record Low | Healthiest Communities | US News

we all have become wealthier and healthier

Again, get your facts right. US deaths from despair are at Communist east Germany levels.

Originally Posted by elche

How stupid can you be?

Originally Posted by elche

really lame and juvenile.

It's Socal.

He can surprise even himself.

Originally Posted by elche

You need to get your arguments straight.

That's the problem with Skidmark - he will not back down from arguing his case when he is proven wrong, he will double down and find some spurious data that only half-relates to the topic (and even then doesn't support his point) and bury you with bullshit.

Is this your first encounter with him? (Refer to the UPS thread to see his idiocy twice in one day)

Originally Posted by panama hat

(Refer to the UPS thread to see his idiocy twice in one day)

That was a specially stupid example. #UPSgate

Testing a ups

Originally Posted by panama hat

That's the problem with Skidmark - he will not back down from arguing his case when he is proven wrong, he will double down and find some spurious data that only half-relates to the topic (and even then doesn't support his point) and bury you with bullshit.

Is this your first encounter with him? (Refer to the UPS thread to see his idiocy twice in one day)

You gotta be a real donkeys cvnt to compare that semantic shit festing to a subjetive matter like this.

Originally Posted by Backspin

You gotta be a real donkeys cvnt to compare that semantic shit festing to a subjetive matter like this.

*Subjective.

You're welcome.

Originally Posted by Backspin

You gotta be a real donkeys cvnt to compare that semantic shit festing to a subjetive matter like this.

Originally Posted by TheRealKW

*Subjective.

You're welcome.

Semantics