A Quote by Marc Faber
Given all the money printing that is going on globally - and not just in the US - and given that the total credit as a percent of the advanced economies is now 30% higher than in 2007 before the crisis hit, I think that gold is a good insurance.
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The basic aggregate measure of gearing or leverage is telling us that today's advanced economies' operating systems are more heavily dependent on private sector credit than anything we have ever seen before. Furthermore, this pattern is seen across all the advanced economies, and isn't just a feature of some special subset (e.g. the Anglo-Saxons).
Do you know what the overhead is of the Medicare system? One-point-zero-five percent. Do you know what - private insurance is 30 percent in overhead and profits? Given a choice how I'm going to improve health care, I'm going to take it away from private insurance profits and overhead. Wouldn't you?
Throughout my career I've given 100 percent. I've given also 30 percent. But if you balance it out, I think all my career's been around 50 percent.
I'm going to create tremendous jobs. And we're bringing GDP from, really, 1 percent, which is what it is now, and if Hillary Clinton got in, it will be less than zero. But we're bringing it from 1 percent up to 4 percent. And I actually think we can go higher than 4 percent. I think you can go to 5 percent or 6 percent.
A possibility is that we see more and more leverage, and credit-to-GDP ratios rise once more to even higher levels; eventually the banking systems of all advanced economies reach magnitudes of 500 percent, 1000 percent or more of GDP, so that every economy starts to have financial systems that resemble recent cases like Switzerland, Ireland, Iceland, or Cyprus. That might be a very fragile world to live in.
In total, by giving people $30 bonus, Intel lost almost 5 percent of productivity. That's a lot. Now, think about it. You give money because you think this would increase motivation. It actually decreases motivation.
I think the retirement crisis globally is a major problem. I think it's especially prevalant in countries such as Japan, where immigration is an issue. I think the US is more shielded from it than most countries in the world. It has a higher birth rate than Japan, immigration is tolerated here unlike probably it is in Japan. I don't think it's as big an issue in the US as it is elsewhere in the world.
In 2007, in the early 2007, everybody saw the housing market was falling, and at any given moment a lot of people thought it was going to fall more, and a lot of people thought it was going to rebound. You just didn't know.
It's going to get even worse if Hillary [Clinton] follows her plan that I describe in Reclaiming Our Children. But even now in many, many schools the nurses are giving out more drugs than were given out in children's mental hospitals when I was in training. You can go into a school today and find that ten or twenty percent of the boys are on drugs given by the school nurse. I just recently visited a school where over half of the children were being given drugs.
Seventy percent of a first draft is garbage and 30 percent is gold, but you have to write 100 percent to get that 30.
You have given us something more than money, you have given us a lot of your sons, your children that were killed beside our own children in Iraq. Iraqi people are insistent on going along the path for their economy and their security, but we do need the help of other countries who will help us, to stand beside us.
If you have credit card debt and credit card companies continue to close down the cards, what are you going to do? What are you going to do if they raise your interest rates to 32 percent? That's five times higher than what your kid is going to pay in interest on a student loan. Get rid of your credit card debt.
Seventy-seven percent of the people that have given money to Bernie Sanders are people that have given less than 200 bucks. That's a lot of people, folks. That's a lot of enthusiasm.
Civilization has given us enormous successes: going to the moon, technology. But then this is the civilisation that took us to debt, environmental crisis, every single crisis. We need a civilization where we say goodbye to these things.
For any economy, there are two basic factors determining how many jobs are available at any given time. The first is the overall level of activity - with GDP as a rough, if inadequate measure of overall activity - and the second is what share of GDP goes to hiring people into jobs. In terms of our current situation, after the Great Recession hit in full in 2008, US GDP has grown at an anemic average rate of 1.3 percent per year, as opposed to the historic average rate from 1950 until 2007 of 3.3 percent.
There are hundreds of millions of people around the globe who could safely repay loans but nonetheless do not have access to a line of credit. Financial institutions in developing economies are broken and inefficient, and hard-working people have not been given the chance to establish a credit history.
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