Marc Faber: FED is totally ineffective and inept organization

Dandelion Salad

Updated: July 24, 2008 Added Part 2

peacespeech

Marc Faber on 2008.07.23, on interview with Bloomberg made the comment, that interest on mortgages are higher than was before FED start cutting rates on September 2007 and it only shows that “FED is totally ineffective and inept organization, that has to be said, they don’t understand simple economics. Because Mr Bernanke, he reads and writes about the depression years, but the difference between the depressions years and today is that commodities prices picked out in 1921 and there were well established downtrend. And today situation is that 3 billion people are joining global economy, who are eating, who are driving around more and more and they put pressure on commoditie prices and this is the inflationary environment. This is not the deflation environment. And if some FED member doesn’t understand that, than he shouldn’t be at the FED in the first place.”
full interview:
http://www.bloomberg.com/avp/avp.htm?…

Vodpod videos no longer available.

Updated

Interview with Marc Faber on 2008.7.23 part 2

see

Louis T. McFadden (1876-1936): An American Hero by Richard C. Cook

Saving bankers while home owners fail by Mumia Abu-Jamal

World Prout Assembly: Monetary Policy with Richard C. Cook

Federal Reserve

The Economy Sucks and or Collapse

5 thoughts on “Marc Faber: FED is totally ineffective and inept organization

  1. Pingback: Ron Paul on Fox News 2008.07.23 « Dandelion Salad

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  3. Hey Dave, thanks for dropping by. Hope you and your family are doing well. We need to talk about gardening sometime.

    Thanks for the link, will check it out.

  4. Yep, a real distinction. May I point people to a site I’ve found useful and informative for the last 10 months or so?

    http://www.nakedcapitalism.com

    No, it isn’t polemical, and it ain’t marxist neither, but it’s put together by a couple of people who know how finance capital works …. or used to work, anyway….

  5. Pingback: Ron Paul: The Mother Of All Bailouts « Dandelion Salad

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