Marc Faber preditions (interview): many things came true

Discussion in 'Markets & Economies' started by TreasureHunter, Nov 23, 2019.

  1. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    2,669
    Likes Received:
    241
    Trophy Points:
    63
    Location:
    Treasure Island
    What do you mean by that?
     
  2. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,533
    Likes Received:
    1,341
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    so that would be the number used
     
  3. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    1,320
    Likes Received:
    667
    Trophy Points:
    113
    Location:
    Singapore
    I know what you mean but the Chinese created the "pseudo" economy hundreds of years before the Europeans. Paper money was issued by private merchants in the song dynasty during the time of the crusades. The Yuan dynasty was the first to implode due to currrency devaluation.

    https://mostlyeconomics.wordpress.c...lo-saw-the-paper-currency-for-the-first-time/

    The petrodollar aside, there is an even more dangerous trend happening in the Far East, starting with Japan, which is the digitisation of human beings. If you thought a psuedo economy is ridiculous, how about pseudo people? People having only imaginery digital girlfriends and living as avatars in the online games they play.

    As you can see, this trend is very bad for the "traditional" real economy, not to mention the demographics. People living in the digital world only need their laptops and their mobile phones, they don't need cars, don't even need to buy a house (a coffin cubicle is sufficient) and in some cases, don't even need a girlfriend and won't have children. I'm telling you this because the problem has spread to HK, and there are signs of this happening in Singapore. Within 10 years, the trend will spread to China as well because the cultures are basically the same.

    Minimalist living is now the new trend. People earning $4k-$6k a month but spending only $400-500 a month. This is quite common in Singapore today. They won't have a girlfriend because it's impossible to get one if you only spend $500 a month and certainly won't have kids.

    You won't find this reported on MSM, Bloomberg, CNBC because Asia is suppose to replace the West. A trend like this will defeat the whole narrative. In my opinion, because of this trend, East Asia will not replace the American consumer market and the world is going digital in the years to come. Meaning, a lot of gen z people won't buy cars, will just rent uber (self-driving), live in very small houses/apartments, use pre-owned goods. The only thing people need is the mobile phone and the internet.
     
    Last edited: Dec 1, 2019
  4. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

    Joined:
    Mar 16, 2019
    Messages:
    596
    Likes Received:
    401
    Trophy Points:
    63
    Ive downsized greatly in my life but it was for the financial benefit and freedom. And because it makes sense in this crazy world.
    People are starting to understand the whole tiny house and low budget living idea and doing more for themselves instead of using credit. Good for them.
     
  5. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    1,320
    Likes Received:
    667
    Trophy Points:
    113
    Location:
    Singapore
    If you're thinking about only just no democracy or no speech, you really don't know what is coming.
     
  6. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    2,669
    Likes Received:
    241
    Trophy Points:
    63
    Location:
    Treasure Island
    Bro, I know it can get a lot worse, I just don't want to do that "scaremongering" thing, you know :p

    Let's hope nothing that bad happens... (nothin' like Mad Max or Escape From New York)
     
  7. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    1,320
    Likes Received:
    667
    Trophy Points:
    113
    Location:
    Singapore
    It is very difficult for a generation used to free spending to downgrade to a simpler lifestyle. A thrift mentality needs to be inculcated from a very young age. It's almost like brain washing if you would call it. We face a similar problem in Singapore, the main difference is personal credit and mortgage is very tightly controlled by the government so people that get into trouble could extract themselves out within a shorter period of time.
     
  8. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

    Joined:
    Mar 16, 2019
    Messages:
    596
    Likes Received:
    401
    Trophy Points:
    63
    People that get into trouble can extract themselves out?
    Like as in financial trouble?
     
  9. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,533
    Likes Received:
    1,341
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    previously, personal credit was 16X monthly income, can have many cards with many banks
    if cant pay, then just go bankrupt

    now that limit is cut to total 12 months
    if can't pay the lender would convert to 5% interest loan till paid up
     
    sgbuyer likes this.
  10. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

    Joined:
    Mar 16, 2019
    Messages:
    596
    Likes Received:
    401
    Trophy Points:
    63
    16x holy crap!!
     
  11. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,533
    Likes Received:
    1,341
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
  12. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    2,669
    Likes Received:
    241
    Trophy Points:
    63
    Location:
    Treasure Island
    16x? That's a "tripple whopper" :D

    In which country?
     
  13. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    2,669
    Likes Received:
    241
    Trophy Points:
    63
    Location:
    Treasure Island
    China and Russia are connecting themselves to Europe and there's no stopping them. It will be a good question what they'll do politically to the countries that are currently creating their own future dependencies on the two giants.

    Yeah, for a while it seems romantic to do business with the two "taboo states", but in the long run? Like, after 30-40 years those countries could wake up like "satellites", pretty similar to the V4 states (which became Soviet satellites with communism forced upon them and invaded by the Soviet army).

    France, the UK are madly anti-Russian and they want the bigger slice from the trade with China, but smaller eastern countries are closer and thus, they are more likely to benefit (reason why these small countries are being criticized endlessly): Greece, Hungary, Serbia, Macedonia.

    China is building a thick "vein" (I'm referring to infrastructure) for feeding Europe with their products. Perhaps this flow will drag China and some parts of Europe out of the next crisis. But I don't see a bright future for the US, UK, France.

    Germany seems to be "in the soup", as they're also strengthening economic ties with China. But oddly, they too are envious of the smaller Central and Eastern European states. Not long ago Merkel stated that Europe should have a "common China policy" - but who cares, the smaller states are creating their own policies (bilaterally), Hungary, Poland, Serbia are great examples. The former commie states simply aren't going to follow the "big fish" (UK/France/Germany), I can feel another "nail in the EU's coffin here"... :D
     
  14. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    1,320
    Likes Received:
    667
    Trophy Points:
    113
    Location:
    Singapore
    It should be 18x and is the total sum for all kinds of personal loans, including education loan and house renovation or improvement loans, overdrafts and credit cards.

    To be reduced to 12x in June. The Singapore government practically knows the entire credit status of everyone including which card he or she has and how much is owed to banks and credit card companies.

    Not much leeway to borrow if one loses his job.

    https://www.singsaver.com.sg/blog/loan-curbs-in-singapore
     
  15. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    2,669
    Likes Received:
    241
    Trophy Points:
    63
    Location:
    Treasure Island
    Those kinds of loans should never be paid back.

    The money you get was anyway mass-printed/generated on a computer. Therefore, it's not a value.
    You are adding value to it by working and/or giving your house away to obtain it.

    Why is it called "loan"? "Credit"? "Mortgage"?

    It should be CHARITY MONEY :D
     
  16. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    1,320
    Likes Received:
    667
    Trophy Points:
    113
    Location:
    Singapore
    It's not as simple as it looks. Before anyone can even predict what will happen in the future, the first thing is to understand what happened to China in the 19th century. Two events that practically every Chinese (even Singaporeans and Malaysians) know is the burning of Yuanmingyuan, the summer palace of the Qing emperor by british and french forces, and the 8 nation alliance army occupying Beijing at the turn of the century.

    Unlike other monuments that were destroyed in war, the summer palace was never fully demolished nor it is restored, the ruins left as it is as a reminder of what happened. This is very usual because very few destroyed sites are left as it is as a display, especially for something that happened almost 200 years ago.

    https://en.wikipedia.org/wiki/Old_Summer_Palace

    Some of the pillaged artifacts are still in Europe and Stanley Ho bought the Horse head from Sotheby sale and it was displayed at the Lisboa casino. If you have been to the Lisboa casino, you'll definitely not miss it.

    Whatever future interaction with Europe or Russia, China will go in on a position of superiority and strength, and this means fixing up alliance with weaker countries in Europe and the former states of the Soviet union.

    To Europeans, you may think yourself as Germans, French, British, or Russians different from each other, and different from Americans, but to Chinese people, all are the same... Europeans.. people that shamed and occupied China.

    So while the trade war may be between China and America for now but American imperialist involvement in China is a lot lesser than European powers because the US came into the scene much latter. In the short term it may appear that the US and China are rivals but in the long term, it maybe just politics, just like the US and Russia, neither actually threatens each other because they are so far apart, and neither country needs more land or resources, but politics requires a stand off.
     
    Last edited: Dec 2, 2019
    66rounds and JulieW like this.
  17. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,533
    Likes Received:
    1,341
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    it was planned to have Red China VS Soviet but it turned out not as planned...they liberated and go for market economy and buddy together in defense
    America sanctions everybody be allies and adversary
    man makes many plans, GOD had it better
     
    66rounds likes this.
  18. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    1,320
    Likes Received:
    667
    Trophy Points:
    113
    Location:
    Singapore
    We’re slowly going back to the 19th century but roles switched around. The Americans will withdraw back to the pacific while the unfinished story in Eurasia will continue from where it stopped in 1900 but in reverse sequence.

    The silk road, HK’s British past. China is reclaiming what belongs to her. Just read history to know what’s next.
     
    Last edited: Dec 3, 2019
  19. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    2,669
    Likes Received:
    241
    Trophy Points:
    63
    Location:
    Treasure Island
    That's so chauvinistic! Downgrading, stigmatizing, racist. In the purest sense.

    These are severe mentality issues.

    It's just as stupid and downgrading when someone calls all Asian peoples "Chinese", like the Koreans, Vietnamese, Japanese... Calling them "all the same" is just as offensive.

    But somehow when it's turned against the white Europeans, it's "OK".

    Germans, French, British, Russians were indeed involved in colonial/and other conflicts against China.
    But how about Poles, Hungarians, Greeks, Croatians, Austrians, Lithuanians, Norwegians?

    "All the same"?

    To us, the differences are just as major as between Indonesians and Chinese or between Japanese and Thai.
    Cultural differences are major. But we're all the same race.
     
  20. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    2,669
    Likes Received:
    241
    Trophy Points:
    63
    Location:
    Treasure Island
    I know there's a lot of manipulation with regards to HK and obviously the US is using it against China.
    I'm aware of the Chinese people's traumas throughout history.

    Yes, China should have the right to trade freely with the rest of the world and I'm sure that the US/Trump is doing all they can to block China.

    With regards to Hong Kong and Taiwan:

    What we all see here is mainland China vs. HK, mainland China vs. Taiwan.
    It's not some "defense" against a foreign country. But regional differences, very different mentalities between locals. All of them Chinese!

    It's no longer US-British "colonialism". It's Chinese vs. Chinese. Without going into details.

    I find it interesting that things in Macau seem to be different. Are they happy about becoming part of greater China?

    Spain will probably come with claims towards Gibraltar (they did in the past) with regards to the Hong Kong & Macau recipe.
    Mexico can take back California, Texas... etc. :D

    I'm worried about these games. Also because everyone thinks Adam and Eve belonged to their nation: entitlement.
     

Share This Page