Being a citizen is a full-time job. If we wish to reclaim our rights, we first must begin by reclaiming our responsibilities. Rights and responsibilities are inextricably linked and cannot be separated.
Marc Faber brought his typical sense of
reality and truthfulness to CNBC's Squawk Box this morning and in doing
so managed to stop Jeremy Siegel saying long-term-buy-and-hold for more
than 7 minutes. Siegel represented the 'new-hopers' with his insight
that if the ECB would just guarantee all euro-wide deposits then all
would be well in the world. Faber comes over-the-top in his gentle
European accent reminding the academic that "it is hard to guarantee something you have no control over". Faber then proceeds to state his view that Europe
is in a deepening recession and more importantly that China is growing
at a far lower pace than official statistics would infer. Reminding viewers that about 40% of US corporate profits are from outside the US and the 'vicious spiral chain reaction'
from slowing demand in China for industrial commodities has lagged
effects on producing countries and then aggregate demand globally, Faber
fears broad-based risk sell-offs but remains notably less sanguine on US Treasuries.