Adam SmithNov 30th, 2008 - 18:41:12

Listen very carefully to Mister Faber. What you will hear is that no one really knows what his or her assets are worth at the moment and may no know what they are worth for a long time to come. This is a time of transition. All economic matters, valuations in particular, are in a state of flux. Why? Because the whole world has been operating on a phony fiat currency. Looked at from one direction the economy will be perceived to be in a deflationary state. Looked at from another direction it will seem as though the economy is in an inflationary state. Both perceptions will be correct. No, it is NOT good. This is what is known as stagflation.

www.youtube.com/watch?v=hkOD3uyPXRE

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Adam SmithNov 30th, 2008 - 19:44:19

Everyone wants to blame Capitalism, but no one can show where the Capitalism is in all of this. The United States is not now and has not been a Capitalist country for since LBJ.

www.youtube.com/watch?v=gMejqeqwQyU

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