Marc Faber Believes $700 Billion is Not Enough
Marc Faber does not think a $700 billion bailout (rescue according to Bush) will be sufficient to prevent the economy from imploding. Faber believes that $5 trillion will be required because of the over-leveraged economy. He cites the $62 trillion credit default swap market and $1,300 trillion worldwide derivatives market.
Faber mentions the appalling fact that, “Wall Street last year in total received a compensation of $69 billion – $38-39 billion of which were bonuses paid to the executives essentially of Wall Street.”
Sources:
http://www.cnbc.com/id/26895741
http://www.businessandmedia.org/articles/2008/20080926110602.aspx
***
Related Posts
-
Jeremy Siegel Sees a Bull Market ContinuationJeremy Siegel predicted a bullish 2019 for stocks on...
- January 10, 2019
-
Ken Fisher is Over the Top Bullish for 2019CNBC interviewed successful money manager Ken Fisher yesterday
- January 3, 2019
-
Jim Paulsen Sees Bullish Run in 2019slowing economy and more cautious Federal Reserve next...
- December 28, 2018
-
Is the Retirement Crisis Really a Crisis?PBS Frontline recently presented a documentary called “The Retirement...
- April 25, 2013
-
Alarming Chart of the Stock Markets of 1987 and 2012-2013Several days ago I posted a chart showing the...
- May 22, 2013
-
Gary Shilling’s Favorite Investment: 30 Year Treasuries
Larry Kudlow interviewed Gary Shilling last week. Shilling continues...
- June 23, 2011
