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but basically it's about power and it's about money we know that the political establishment has made a lot of money a lot of money has disappeared from the Defense Department from the State Department and the same goes in Europe the Americans they go and tell the world about corruption yeah we have corruption in Asia but I can tell you I think the big corruption is actually where the governments are very big and the biggest governments as a percent of the economy are in Europe reporters are in Sutherland Texas they were there yesterday with an hour and a half after the mass shooting everybody joining us the next segment we're gonna take your phone calls as well we only got about eight nine minutes left mark fiber of the gloom boom Jim a report that gloom boom doom calm and I wanted him to recap how he's been demonized and attacked for saying we ought to be proud of modern Western civilization he's written books on the bad parts the good parts he's written books on other civilizations he's widely read around the world and admired but you know many other cultures I know that is a fact and so he's so demonized why does he think that happened and then let's segue into why the West is contracting why it's self-loathing and what he thinks is the Trump phenomenon and where the economies are going and can the nationalism we see coming up in Europe coming up in other areas as a new revolution against artificial globalism can it succeed Marc Faber yes I mean this is a very tough question but I'd like to say that the welfare of the people has been the alibi of the tyrant and you know they tell you well everybody has to be the same and get some money and we have phasic income eventually and this and that but basically it's about power and it's about money we know that the political establishment has made a lot of money a lot of money has disappeared the Defense Department from the State Department and the same goes in Europe the Americans they go and tell the world about corruption yeah we have corruption in Asia but I can tell you I think the big corruption is actually where the governments are very big and the biggest governments as a percent of the economy are in Europe the more government you have the less freedom you have Milton Friedman he explained this very well in his book capitalism and freedom the larger the government extreme is of course the communist socialist planning economy where the government controls everything and then I suggest you read Animal Farm by George Orwell you know what it is all about absolutely I noticed you've got a bust of mouse a tongue behind you I don't think you're a fan though I'm not the fan of him and not the fan of any politician except maybe you could argue that add an hour after the Second World War he was a great leader He healed the German aid nation but now he's of course a villain like start like it looked and like Napoleon but some are perceived in a better light than others but they're all kind of evil people advancing about Mao and this is also interesting about Stalin Stalin is the most popular leader of Russia ever including all desires because he defeated the Germans and now I have to give him credit you see what happened this child and by the way also India had a thriving economy and the striving social system until about 1780 but I said 1780 most big nations that made at the time China and India 60% of the global economy at that time the u.s.
much was about smaller they started to decay the decay was then accelerated also by imperialism and colonialism and again you've written about the rise and fall of nations these are historical facts you spoke about the less being and decline and said we should stop bashing it it's but a good thing overall until its decline they're calling that racist why is there such an internal hatred in the West of Renaissance and free market and where do you see the US economy and global economy going well it's very difficult to tell but I think that the Western leaders subconsciously realized that they have to control the population somehow and one way to control it is to make everybody more or less equal and I just want to mention because many people don't realize they more acidity and Social Security is an experiment we don't know how long it will last for the last 5,000 years we didn't have democracies and now for the last 200 years we have some sort of democracy but as you know in the u.s.
initially only some people could vote and not other groups sure so the paradoxical it creates incredible wealth and freedom but it also creates spoiled brats yes every civilization went down after they went through a phase of great prosperity and usually this period of great prosperity like in Spain after the discoveries of gold in Mexico and in nowadays bolivia potosi which incidentally became one of the largest cities occurred during the silver boom but the thing is these rich countries then they also go and borrow money so the debts expand and eventually they fail they go bankrupt Lamarque Harbor this is fascinating I love you get you on for a full hour looking at about two minutes left you are I got this really predicted major economic developments with incredible accuracy so just briefly without folks to on your site they should go there gloom boom doom calm what if you're quick prognosis on the global economy versus the US can Trump turn the the downward spiral off in my view we had a recovery post June 2009 that bull market began on March 6 2009 most of the expansion is driven by credit the credit as a percent of the global economy has expanded we have artificially low interest rates can imagine I went through the 87 crash that time in 87 interest rates on the ten years Treasury had gone from 7 to 10% so the bond market wasn't it not in a bubble stage in the year 2000 the 10 years Treasury went to 6 and a half percent in year 2007 when the last crisis occurred it was at five and a quarter percent now we are two point three percent or two gas bombs and you believe they yield 2% vanished bonds 1.7 and so forth so I mean we haven't completely distorted money market and so people they say well I'm not gonna put money at zero interest rate or next to zero interest rates in bonds I buy stocks why buy real estate or bitcoins but it's gonna be end very badly we are not in one bubble we have multiple poeple don't know I totally I totally agree and I like the fact that trumps at least trying to get taxes cut for the general public and try to control spending but I think like Ron Paul says you'll never be able to completely fix it how long can the bubble sustain with money printing you can sustain it for a while but you can't sustain it forever and the longer personally are absolutely sure we're headed towards some big times here absolutely some people need to batten down the hatches thank you dr.
mark Farber we are in Europe the more government you have the less freedom you have Milton Friedman he explained this very well in his book capitalism and freedom the larger the government the extreme is of course the communist socialist planning economy where the government controls everything and that I'd suggest you read Animal Farm by George Orwell you know what it is all about absolutely I noticed you've got a bust of mouse a tongue behind you I don't think you're a fan though I'm not the fan of him and not a fan of any politician except maybe you could argue that add an hour after the Second World War he was a great leader He healed the German aid nation but now is of course a villain like start like Hitler and like Napoleon but some are perceived in a better light than others but they're all kind of evil people advancing about Mao and this is also interesting about Stalin Stalin is the most popular leader of Russia ever including all desires because he defeat that happened and then let's segue into why the West is contracting why it's self-loathing and what he thinks with the Trump phenomenon and where the economies are going and can the nationalism we see coming up in Europe coming up in other areas as a new revolution against artificial globalism can it succeed Marc father yes I mean this is a very tough question but I'd like to say that the welfare of the people has always been the alive eye of the tyrant and you know they tell you well everybody has to be the same and get some money and we have phasic income eventually and this and that but basically it's about power and it's about money we know that the political establishment has made a lot of money a lot of money has disappeared from the Defense Department went from the State Department and the same goes in Europe the Americans they go and tell the world about corruption yeah we have corruption in Asia but I can tell you I think the big corruption is actually where the governments are very big and the biggest governments as a percent of the economy but basically it's about power and it's about money we know that the political establishment has made a lot of money a lot of money has disappeared from the Defense Department from the State Department and the same goes in Europe the Americans they go and tell the world about corruption yeah we have corruption in Asia but I can tell you I think the big corruption is actually where the governments are very big and the biggest governments as a percent of the economy are in Europe all right reporters are in Sutherland Texas they were there yesterday with an hour and a half half of the mass shooting gonna be joining us the next segment we're gonna take your phone calls as well we'd only got about eight nine minutes left mark fiber of the gloom boom a report that gloom boom doom calm and I wanted him to recap how he's been demonized and attacked for saying we ought to be proud of modern Western civilization he's written books on the bad parts the good parts he's written books on other civilizations he's widely read around the world and admired but you know many other cultures I know that is a fact and so he's so demonized why does he think and I just want to mention because many people don't realize their acidity and Social Security is an experiment we don't know how long it will last for the last 5,000 years we didn't have democracies and now for the last 200 years we have some sort of democracy but as you know in the u.s.
initially only some people could vote and not other groups you're sort of paradoxical it creates incredible wealth and freedom but it also creates spoiled brat yes every civilization went down after they went through a phase of great prosperity and usually this period of great prosperity like in Spain after the discoveries of gold in Mexico and in nowadays bolivia potosi which incidentally became one of the largest cities occurred during the silver boom but the thing is these rich countries then they also go and borrow money so the debts expand and eventually the Germans and now I have to give him credit you see what happened this child and by the way also India had a thriving economy and the striving social system until about 1780 but I some 1780 most big nations that made at the time China and India sixty percent of global economy at that time the u.s.
much supports much smaller they started to decay the decay was then accelerated also by imperialism and colonialism and again you've written about the rise and fall of nations these are historical facts you spoke about the less being and decline and said we should stop bashing it it's but a good thing overall until its decline they're calling that racist why is there such an internal hatred in the West of Renaissance and free market and where do you see the US economy and global economy going well it's very difficult to tell but I think that the Western leaders subconsciously realized that they have to control the population somehow and one way to control it is to make everybody more or less equal
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