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in a recent interview legendary contrarian investor dr. Marc Faber warned that the huge asset bubble will be deflated and we are already in a recession saying forget about the coming slowdown because the economy has already been backing up for months and were likely already in a recession dr. Marc Faber explained when I started to work in 1970 on Wall Street the stock market capitalization of the US as a percentage of GDP was between 25% and 30% now the stock market capitalization alone as 150 percent of GDP and when you add the bonds to it we are at 300% it's a huge asset bubble compared to the real economy I think no matter what they do this asset bubble will be deflated and it will be very painful the asset holders are the powerful ones here and they don't want it deflated the question is would it have been better economically to go into the hospital in 2008-2009 and clean up the system rather than to essentially inject the sick patient with more opioids to keep him alive it's going to get much worse the next time it happens economist and editor of the gloom gloom and doom report continues explaining investors are relatively complacent nobody thinks a recession has begun I think a recession in the u.s.
probably began in October November of last year if you define a recession as peak economic activity and subsequent declining growth rates that can turn over all negative in the process I think this is happening now in the world we are probably already in a recession the central banks in my view will continue to do more or less what they have done in the past namely print money it's a huge asset bubble compared to the real economy I think no matter what they do this asset bubble will be deflated and it will be very painful the asset holders are the powerful ones here and they don't want it deflated the question is would it have been better economically to go into the hospital in 2008-2009 and the system rather than to essentially inject the sick patient with more opioids to keep him alive it's going to get much worse the next time it happens he added Weber also expressed his concern about the rise of socialism in America I can assure you that people who lived under socialism and communism in China Russia and Eastern Europe that is the last thing they want to go back to the last thing the Westerners who have never experienced the devastating lifestyle under socialism and communism are amenable to the idea the Millennials think the government should do more they don't know what that means when the government can do more it can do everything they can have people build bridges in the desert where no bridges are needed to keep people busy and that leads to a complete economic calamity Faber is right on about the central bank's being the source of the problem true consumer inflation is running nine to ten percent already while unemployment as 23 to 24 percent the Fed killed the dollar and replaced it with the essentially worthless Federal Reserve note that is only functional because the Kahn is still on worth about two cents on the actual dollar I would say that's a rather severe debasement fully accomplished and QE eventually produces hyperinflationary headwinds that will blow us all down this is meant to terrorize the public into accepting communism world government and cashless enslavement to the banking system by land they will tax it until you can hold it I hate to say it but this is war the globalist central banks have openly declared war on humanity the Fed does not work for the American people its goal as to enrich those who own and control it period this was the Atlantis report please like share and subscribe thank you
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