Subprime / Meltdown Joke: Marc Faber
I normally do not put such quotes on my blog. But Marc Faber’s comment about the bailout was just too good. So here it is:
“Dr Marc Faber, the investment guru commented on the American Economy as “The federal government is sending us a $600 rebate. If we spend that money at Walmart, that money goes to China. If we spend it on gas, it goes to the Arabs. If we buy computers it goes to India. If we buy electronic thrash it goes to China, if we buy fruits it goes to Mexico. If we buy a good car it will go to Germany or Japan. None of this helps the American Economy.
So the only way to keep the money at home is to spend it on prostitution and beer – since that is the only thing we still make in US. I have been doing my part.”
QED.
Stacey Derbinshire
Hello. I was reading someone elses blog and saw you on their blogroll. Would you be interested in exchanging blog roll links? If so, feel free to email me.
Thanks.
Charles Brownell
Where is all the money coming from for the government to spend?
How many billions have we spent on the stimulus, AIG, the bailout, etc.?
We run a huge trade deficit.
Our government operates on a huge deficit.
How long can it last?
subra
It is a fantastic American habit – charge it to the card, they say! So When George Bush wanted to spend in Afghanistan and Iraq (he was already running a deficit) he put it on the card. Now that the payment is due, he is wondering what to do. The normal American who lives beyond his means goes to a Suzie Orman and asks “Can I afford it”. GB had too much of an ego to do that. Now he can go to Suzie and ask “Should I declare bankruptcy?”. She might say, “You already are”. Yankees should realise that the rest of the world does not own him / her a living
bhowmick
this is a fantasstic quote! so true – only not sure that the money spent is not also going to Mexico! what about the money American soldiers are spending on these items in Afghanistan and Iraq? One girlfriend of a soldier sent a sms to her boyfriend in Afghanistan “What do the Afghan women have that we do not have?’. He got a reply saying “Whatever they have, they have it here” – so it is a locational problem!! And it cannot be outsourced!!
Ravinder Makhaik
Marc Faber surely knows what he is talking about.
But even his advise is not enough to keep the American house in order as more and more giants go under.
Yesterday it was the banks, today it is the motor giants – who know it may be the brothels next.
Srivatsan V
What is the meaning and purpose of this quote? Only thing which i can decipher is that Marc Faber doesnt want US funds to go to other countries and wants them to be circulated in US alone. Anyother thing he meant to say?