The Doctors Doom Marc Faber and Nouriel Roubini provide their view of what happened in stock markets, both suggesting that debt crisis in Europe, the USA and the world over may likely be responsible. Jim Rogers says this is a stock market correction
Marc Faber:
I don’t think that Greece is the cause of the sell off. I believe it’s a catalyst. I believe the cause of the sell off is that the markets ran up too much, too quickly.
…The computer programs, as the markets started to go down, they had to change their positions from going long, to short, and that then triggered the big sell off.
Jim Rogers:
The market’s overdue for a sell off…The market went straight up for over a year. Market’s are supposed to correct. This is, I presume, a normal correction. Whether it’s caused by currency turmoil or the English election or who knows what, it’s time for a sell off and we’re having it.
…As I’ve said to you several times on Bloomberg where 2010 and 2011 will be years of currency turmoil and maybe even chaos in some cases.
Nouriel Roubini:
“You have this increasing risk aversion and the contagion of Europe are becoming global.”
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You know as much information you and I might know about all of this. Many people are never going to be prepared enough for a collapse. Those water filters your website advertises. Many of them don’t work very well and that’s including the really expensive ones. You’d be better off gathering rain water or tearing apart the filter’s you mount on your facet and working with them. Of course if you live in the Southwestern US you’re are going to have to move. There’s also enormous issues with food, particularly storage. You could store food from the supermarket all you want, but what good is it in 10-20 yrs? People need to know environment. Know what foods last all winter or what foods they can grow in the winter. Many people will probably go without enough protein too.
TMT That is all that realy matters hey. water and food is all we need, the rest is sugar coatings. I don’t post on the forums now, I don’t bother as it’s all been said a hundred times over the last 5 years and I wonder why Roger’s bothers himself? Probably because he makes his fortunes on markets. For the rest of though it’s too late to bother IMO. If your not prepared now you are likely going to starve to death in the next decade when the paper, the houses and the retail and service business sector becomes worthless. The sheeple wont believe it until they see it.
wooba said “The sheeple won’t believe it until they see it.”
Amen.
TMT?
I have a web site where I give investment advise on penny stocks and stocks under five dollars. I have many years of experience with these type of stocks. If theirs anyone thats interested in these type of stocks you can check out my web site by just clicking my name. I would like to comment about marc faber jim rogers and nourial roubini I get a bite down and out when I here the constant drum beat of gloom and doom from all these different guys in the investment business. What we don’t here enough of is serious solutions from are lawmakers to address these serious issues.