Marc Faber: Most Households Are Drowning Financially While The Rich Get Richer
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- čas přidán 6. 04. 2024
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There's a lot of uncertainty in the world right now -- geopolitical, economic, social, and environmental.
At times like this when the path forward is unclear and the stakes are high, it's wise to tap the counsel of those with a strong command of the lessons of history, and the practical experience of a lifetime in the market trenches.
There are few who fit that description better than Dr Marc Faber, Editor and Publisher of ‘’The Gloom, Boom & Doom Report’
Colorful, brash & brilliant - Marc understands the global economy through a historical lens practically unmatched in the industry. And he’s a declarative straight-shooter who doesn’t mince words.
Follow Marc at www.gloomboomdoom.com/
#wealthgap #inflation #goldprice
_____________________________________________
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We produce educational content geared for the individual investor. It’s important to note that this content is NOT investment advice, individual or otherwise, nor should be construed as such.
We recommend that most investors, especially if inexperienced, should consider benefiting from the direction and guidance of a qualified financial advisor in good standing with the Financial Industry Regulatory Authority (FINRA) who can develop & implement a personalized financial plan based on a customer’s unique goals, needs & risk tolerance.
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Investing in stocks, bonds, exchange traded funds, mutual funds, and money market funds involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods.
A security’s or a firm’s past investment performance is not a guarantee or predictor of future investment performance.
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Whiskey, westerns, and women. 😂
Adam Brilliant Guest Marc is a Star 👍👍
Faber is a broken clock. Why subscribe to anything you put out. Why does this channel only have broken clock gold pumpers? No one of any real credibility. Credibility means that have a great track record. There are none on this channel.
“Whiskey, Westerns, Women” advice by Marc Faber vs “Liqour, Ladies and Leverage” advice by Charlie Munger 😂😂. Wish the 2 greats had a chance to meet and debate.
@@user-hjsjdhs23sdf First you don't understand Anything about Gold . Second I can tell that you don't know Anything about Adam this program is New because Adam was in. the program "Wealthion" but. He left it have seen Adam for years and all Guests are VERY Credible.
What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
Tenley Megan Amerson . She is well known; you ought to look at her work.
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes.Thanks
Marc is always unfiltered............thanks
Except for maybe his cigarette.
He’s not afraid to call a spade a spade
@@GrapeSoda672I was just joking. No judgment. He definitely tells it like he sees it.
He's great, isn't he? Haha, we want more of this genius Adam
Unhinged?
In a good way.
I love Marc Faber. Not just because he's such a character that is just plain fun to spend time with, but he is one of the few very wealthy advice-givers who for whatever reason understands the financial reality on the ground for everyday people (as do you Adam). Marc arguably lives in a bubble, but a virtuous bubble, an enlightened and planned bubble of his own making vs the more common bubble commentators live in that largely strokes the egos of that bubble's other inhabitants who are wholly disconnected from most reality. I worry the people living in that latter bubble, with all their hubris and lack of experience (i.e. times of higher inflation/higher rates, lack of connections to the real world) might be in for a world of hurt when their particular bubble world pops. Given his ability to observe and understand all levels of society, combined with such a lifetime of experience, when Marc speaks, I always listen. Thanks Adam for yet another great video!
I also listen but make no money from his advice
I have followed Marc Faber all last year, and he was right thus far. With SPX above 5000 what assets/sectors will drive the next bull trend. I cashed out before the last dip, now I have less than 200k to average down with. Any ideas? Should I get into short positions in the beginning Q2 or is it headed higher?
Don't be in a hurry to get back in. The market needs several days of strong performance to signal that the downturn might be over; It's a time to be largely, if not entirely, in cash
I feel that one. I just bought SOFI, TSLA NVDA, I also included MSFT and ServiceNow, as well as some energy plays like WFRD stock.
Gold is king.....
Problem with society has been that throughout the middle ages the vast majority of people were peasant farmers who had next to nothing, while a few lords of the Manor were the middle class, and an even smaller number of aristocrats had everything. It didn't change until the later industrial revolution when a Middle Class developed, but we are returning to the old medieval system. India and South America are massively divided between rich and poor.
same system all throughout history, just called something different.
When the rich make the rules, they choose to stay rich and force everyone else to work for them....go figure..
I always wonder if that dynamic is the norm for humans (a few royals, dictators, lords etc....a small sanctioned religious class....a small merchant class.... but the vast majority being subsistence serfs) and we have just been lucky to have lived in an historical aberration the past century or two arguably due to cheap fossil fuels/industrialization but as those start to play out we are reverting to the old human norms you describe. I think an argument left out of the AI discussions is how AI may possibly accelerate that return to the norm ...or not? We may all find out soon.
many of us are spoiled to f... crying have no money but have giant tv, broaadbnand, netflix, drink over priced coffee and buy new ev's
@@PazLeBonYou are fully supported by me. Why pay the over sweetened muffins for $3 or over while 7eleven is giving it for free when you buy a delicious cup of coffee any size for less than $3.
@@berhanegebriel3155 lol ptobanly more lke 1 euro here ;)
I wish I had more people like Marc as friends . I enjoy his bluntness and sarcastic laugh .
been a fan for 20yrs and the message and CS is still valuable.
But he's wrong because the fundamentals are shifting tremendously when the Feds are about to let the MBS run off completely of the balance sheet.
Correlation to Government Spending . The more the Government spends the rich only get richer.
" Never trust a central banker"
Spot on
yes, lets let the corporations run things.
@privacylock855 the Federal Reserve is technically a privately owned corporation.
Only a small fraction of the Federal reserve are actual Federal employees. The rest are not Federal employees. Why is that?
Always bring Marc back, Adam. I have greatly appreciated all of your guests point of view on your show, since you have started Thoughtful Money.
We spent $7 trillion for Iraq. You think windmills solar and electric car subsidies are stupid. Dude is blind.
This problem has been snowballing for the last 44 years or so, & is finally starting to reach a point of critical social & economic mass for the working class.
So what happened 44 years ago? Lol
@@frankmarsh1159 Decoupling of currencies from gold. Deficitspending. Corrupt monetary policies. Repeal of Glass-Steagal act. And finally now, concerted global takeover by elites, corporations, NGO's, Big Tech, Pharma facilitated by bought and paid for mainstream media. The death of independent journalism has had a profound impact on this proces for sure. Hence the gaslighting, propaganda, 'hate' speech legislation etc. It's about control and it's only just begun.
I'd say, prepare for a chaotic decade.
Reaganomics, accelerated the wealth distribution to the rich.
@user-jl8yy5ir7s 10 percent of Americans own 93%
of the stocks. That 10%
has 70% of the wealth. Why do you think the Republicans legalized stock buybacks? They are in the pocket of Wall Street
Try since 1972 when the fiat petrodollar was created. That's the moment wage growth v. productivity (amongst others) began to massively diverge. In essence, real wealth was stripped from the masses until now, even the idea of owning an *appreciating* asset seems ludicrous to 90%+ of people.
Fantastic Faber!🌞
I always look forward to hearing his thoughts.🌞
Never trust a government or central bank…. Fantastic advice
I love Marc Faber! I could listen to him every day. Adam, thank you for bringing on these great guests that live by what they say & have been successful. Even at 66 I deeply appreciate the wisdom of Marc Faber & I always learn something new. Great show Adam - keep it up! You are helping many people.
Marc Faber is box office. No nonsense, doesn’t speak with any fluff. Love him!
Faber is great. Lights up a cigarette in the interview, lol. Greatness. 🤣
Guy made his "f*** you" money long time ago. He'll do what he pleases, and won't explain himself.
Plus, he's 78. Prolly isn't training to run a marathon.
So nothing wrong with smoking. What's wrong is other people not minding their own business
Lololoolol, he’s a f’n OG trader, love this guy
Isn’t Marc an interesting, humble, intelligent man !!! ⭐️ And his website is more valuable than suggesting what one SHOULD do. Thank you Adam for having such insight to invite him ✨
I remember when the thought police and woke tyrants came for Marc years ago. Like a hero, he stood his ground. A Man of courage and integrity.
Correct, Eric Sprott and Rick Fool from Sprott Gold in woke Canada were the first to denounce him.
Peoplekind always refuses to listen to any other opinions
What does "woke" mean to you? I know the majority of people who use that word, do not know what it means and therefore do not really know what they are criticising.
@@VeganTrove Can you please enlighten us on your meaning of woke VeganTrove. en.wikipedia.org/wiki/Woke
I'm looking forward to your enlighten meaning as us plebs don't know anything. I normally just hear a word and use it without knowing the meaning because it just sounds really cool. I'm really glad we have intelligent people like you who can teach us, after all your meaning will be the correct one as you are super smart.
This guy is a gem in many ways and reminds me of my grandfather. I don’t agree with all he says but he makes me consider that human nature hasn’t changed throughout the ages.
My father who escaped Hungary in 1956 always said to buy jewelry so that when currency is worthless, you could trade a ring for a cow. He was so right.
But there's so much more jewelry in the world now it won't be that way. Pawn shops are overflowing with diamond rings.
@@ad6417well ya you don’t buy diamonds lol. You buy silver, gold, maybe platinum, jewellery.
I loved it when Adam said, "I know it's late your time, I want to give you a chance to get to your whiskey & westerns." I go to Thailand a lot, I need to take a trip to Chang Mai & buy Marc a meal & few drinks. That would be time & money well invested.
Mr. Faber is a great guest that doesn't beat around the bush.
Marc is fantastic. I never heard him talk about living a 'frugal' life by avoiding fast cars, etc...that says a lot about him personally. My mantra for years has been live within your means ( including saving 5-10%) and avoid debt. Frugality and discipline is key to a sound 'portfolio.'
Yes. Definitely. I met a guy the other day, he was 28, had a house and 2 kids. He told me his life story practically, and explained that by 25 he owned a house because he left school at 16, joined British Gas as a plumber, was on 30k by the time he was 20 (living at home) and saved 5k + a year before he put down a deposit for his first house. Impressive. Admittedly he lived rent free at home, but others maybe want to rent with friends and don't save
I'm educated and used to buy into the neoliberal agenda. This channel and many others on CZcams got me off the political bandwagons. I only care about the economy and view government much differently nowadays
The truth has been a hard pill to swallow at times,.
I love Marc, especially when he is politically incorrect. 😂
60 years old and no accidents or tickets in decades, and my auto insurance is up 71% in 2 years. Largest increase of all (I renew every 6 months) is today's bill (20% up in last 6 months). What was that BS about inflation going down?
Yeah, I'm planning to get some quotes from other companies before I pay the bill.
True that. Same here. AND my property taxes have almost doubled in 5 years, Mainly because of 50% percent of it going to the local (failing) schools!! They keep building on to the schools and raising teachers' salaries.
Yes. But I notice that no matter how high car expenses go, people keep on paying. When fuel was up to £2 a litre 2 years ago, people moaned, but still didn't cut back on their car use or engine idling - no uptick in cyclists whatsoever. I guess car culture is sacred!!
Magnificent guest!
They don't make 'em like Marc Faber anymore. Full of humor, wisdom, bold opinions and unapologetic enjoyment of beer, cigarettes, whiskey and Westerns. Wicked Pissah, that one! 😂
Marc was exceptionally annimated today!
Absolutely fabulous, thanks! ❤
i watched this channel because dr faber was appearing thank you
Dr.Faber is one of the best.
Bread and circuses! I love it. Been saying that for years. As an amateur history scholar, I’ve been seeing parallels for some time. Marc watches American westerns! Fantastic. It was so much more of an optimistic period in America, if not accurate. His story of his employee watching CNN was great.
Marc is right. The US and NATO driving themselves up to Russia and creating the Ukraine War is criminal.
Love this guest!
THANK YOU GENTLEMEN!
Marc is a legend
Adam I don’t know if you watched any of George Gammons (rebel capitalist) “road to freedom challenge” last wk in South America. A road trip through Argentina to see Doug Casey only using Bitcoin, gold and silver as a way of transacting outside the system. Well let’s just say it’s super hard to pull off at this stage. All the gold dealers wanted to short them 50% of the value. They only found 1 place I think that gave them good $ value on silver coins. BTC was a mess for them. It was a cool challenge. Hey Doug Casey would be a great guest by the way.
Marc is a legend!
He is the best explaining complicated stuff in my opinion 🙏
The rich have the power to insure that the rich get richer and the poor get poorer.
You need to define what rich and poor mean. Our problem is actually neither; its the loss of a manufacturing middle class. As someone in the higher income level, I have always fully supported policies that build the middle class, from a tax, regulatory, and competition standpoint. A vibrant, robust middle class will make me richer than the current situation. The truly poor, as some smart man once said, will always be with us. A vigorous middle class would be able to support charities to care for the truly poor.
@@DrBlood-cq2cm AI/automation/robots will replace the middle class
What about the rich get richer and the poor get less poor?
We don't want to see the poor go hungry.
They pay many lobby groups, to make sure they get really sweet policy:-)
Our fiat monetary system, along with an accommodating Fed and a confiscatory government that rewards the politically powerful, helps ensure that. With unfettered capitalism, wealth would be both greater in sum, but great fortunes also would be more unstable.
I agree with Dr Faber about continuously learning. I spend a fair amount of time every day staying informed and learning new concepts.Channes like Thoughtful Money are very important in fulfilling that learning.
Inflation. So much of the pressure comes from elephants that are completely ignored, such as property taxes and insurance....
Government excluded all necessities including insurances, they even said that health insurance down 33% in 2023. So ridiculous, it is laughable thinking everyone is stupid hiding in a cave.
Insurance when you've done nothing wrong and have made no claims plus my insurance just dropped a part of it (After I've been paying for YEARS) because of a New Policy or change in qualification for it. THAT is not right and to me is outright robbery!
The worst part about car insurance - is that the government (UK)have cut and cut buses, and made trains less and less affordable, so it's incredibly difficult to move around car free.
In deference to Dr FAbers comments about inflation it is like a famous quote "There are three kinds of lies: lies, damned lies, and stastics"!
Samuel Clements I believe
Incorrect Benjamin Disraeli, British Prime Minister
Thank you Marc and Adam!
Marc is a living legend and the success you are experiencing Adam is simply because of you and your genuine personality and intelligence. I recommend your channel to many people I come across. Marc’s wonderful humour and intelligence reminds me of my late Swedish father.Thank you both from down under here in New Zealand.
Dude one of the best interviews! Not just in terms of the information and insight provided, but in the tact and technique of the interviewer.
I wish all interviewers would get out of the way like this and just let the guest speak without interruption. Great job!
This Interview With Dr.Faber Made My Sunday..Salute And Cheers To All Stackers
All these are problem for people who are close to their retirement and they have to work until they die ! Problem for young with no money !!
Generally problem for people with no money in every age !!! And we have no way go back or forward !
Get Mark on as much as possible. Not only great at what he says, he’s so entertaining. Country is missing older thinking people.
He is! He sounds like he could be in a war movie.
Adam Marc is Brilliant Gest and Brilliant Analysis Big Thanks 👍👍
He sounds crazy to most, but he is absolutely correct! Would love to keep seeing him on your show.
I just watched him on another channel! Ai knows I like him! Sent me the link for that interview.
How does this channel not have 1M subscribers.....
Long life to Marc Faber, such a brilliant mind and knowledgeable person
Nice to hear someone with a broad and long-term perspective on life and matters, not buying into media propaganda and lies, not jumping on FoTM fads and bandwagons. These people are becoming rare or their voices (of reason) are suppressed by the public media.
A very wise man. Stay healthy and happy, Mark. I have been following you for 20+ years. Thanks for sharing.
How DO you maintain this torrid pace of interviews, Adam!??! Truly impressive!
Anyone who loves John Wayne and westerns has my attention!
Same here!!
Marc is so smart, love to hear his wisdom!
Dr. Faber is a very insightful guest. Thank you!
Marc is a gem. I took his advice 10 years ago to get into real assets. So I bought real estate that has gone up by a factor of 5
Great guest
Read the Italian book Il Gattopardo which is incorrectly translated into English as Leopard.
The essence of that book is a statement made by the head of the family to his nephew which goes like this:
In order for all things to grow & improve, it is essential that the system remain the same.
That has been the foundation of colonization & most Western societies for centuries.
Many thanks Dr. Faber 😊
Were we better off 5 years ago? Heck yeah!!
Can't be! Best President evah! 81 million votes!
Another great episode. These history vids on money and history so valuable.
Marc + New Harbor= excellent listening and advice.
Truly enjoyed these conversations and analysis.
I agree with Marc, Fort Knox has ZERO gold! That‘s why Bernanke called gold a useless relic, and that we hold it just out of tradition.
Yes, I think having actual assets will be very important. A house, a car, some gold, and access to food - i.e land.
Houses and cars are liabilities.
I don’t plan on selling my gold or silver anytime soon and preferably never. I would rather give it to my daughter in case she ever needs it. I enjoy owning it because it’s something I can pull out every once in a while and look through them.
Santa brings Knowledge as a gift to us all !!
Truly a legend ! Thank you for the interview
I always enjoy interviews with Marc.
Always entertaining and packed with great insight.
As I'm reading the comment here, I don't see one negative comment, rightly so.
It's always a great discussion from Doc. Faber, always constructive, pragmatic and truthful comment from the man who has nothing to prove 😊
Auf geht’s Dr. Faber 👍
LEGEND
Adam your channel has taught me more about economics than my very expensive MBA. God bless you for the work you do
From what I hear on MBAs they teach cut throat capitalism - profit at all costs?
I always enjoy listening to Dr Faber. Thank you Dr Faber for your candid comments and advice. Thank you Adam for hosting Dr Faber on your show.
Marc Faber is like another Ray Dalio awesome presentation thank you!
I love listening to Mark. He's so real and knows how to contextualize things so anyone can understand and relate. 💯💯
Very very well. Done, insightful excellent interview.
Absolutely love to see Dr Faber on here Adam; in a world full of people that say only what you want to hear I love his straightforward, take no prisoners (blunt) to the point assessment of the world in general.
It's never a slow day when there is a Marc Faber interview on my playlist! 😂
The end. Have a great week. Thanks for the insights.
Thanks for an excellent 1.5 hours. I thought I would skip through most of it in 10 minutes. Mr. Faber is always great. But, the analyses during the last 30 minutes were also excellent; very balanced. IMHO.
Instead of a 20 year gold chart, take a look sometime at the price of gold since 1971 (I think it was $42 per ounce). In spite of all the "rug pulls," and in spite the "smoothing control" of the COMEX, about a 57X increase. And, the rocket engines appear to, possibly, be warming up. Time will tell.
Thanks to Mike and John for the look at metals today!
Great interview! Always a pleasure listen the objectivity of Marc Faber
This man is a treasure.
Mark is awesome. Very entertaining and informative
Marc is to be admired for his straightforward thinking, absolutely right on the button advice. Pms currently is a run to safety position in these uncertain time.
Families are STRUGGLING with inflation...food and commodities are becoming out of reach.
Love this guy...and so forth and so on
Who needs reality TV when you have Marc!. Loved his comparision of sports and the Roman Colosseum, been in that camp for a lot of years.
DR Faber. My favourite economist
Wealthy voices are powerful voices, and they are the voices heard first. Middle an lower class voices are only heard when they band together on a common matter. Politicians listen to donor voices, not the middle and lower class. Same old behavior century after century.
Well, the middle class is relatively new, really only after the industrial revolution. But yes. The middle class it at one is it's all time lows. It's really grim
Low profile living is key. Drive a small Kia. Silent pride.
More millionaires drive pickup trucks than MB or BMW.
He has his gardener to take care of his motorcycle, as he has mentioned in this video.
So he does not drive a car.
Kia aint cheap anymore :-)
@@alanmrsic893 it depends. I drive a Niro. I’m pretty much invisible when I’m out and about.
I live on 20 acres in Teton County Wyoming. I drive a 20 year old Jeep, in great condition.
Everything around me is paid for, and I have money in the bank.
Nobody suspects a thing.
I never get tired of listening to Mr Faber
Adam thank you. Just brilliant
Marc is amazing.
Thanks for another great interview with our favorite guest. ❤
A really good interview
Thank you gentleman.