Obama Is A Disaster, The Market Should Have Fallen 50%, And You Should Buy Yourself A Machine Gun

TBI ^ | 11-7-2012 | Joe Weiswnthal

[blam]

MARC FABER: Obama Is A Disaster, The Stock Market Should Have Fallen 50%, And You Should Buy Yourself A Machine Gun

Joe Weisenthal
Nov. 7, 2012, 6:22 PM

A classic Marc Faber interview on Bloomberg TV.

You can watch the video here.

Here's a partial transcript

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Faber on President Obama’s reelection:

“I am surprised with the reelection of Mr. Obama. The S&P is only down like 30 points. I would have thought that the market on his reelection should be down at least 50%...I think Mr. Obama is a disaster for business and a disaster for the United States. Not that Mr. Romney would be much better, but the Republicans understand the problem of excessive debt better than Mr. Obama who basically doesn't care about piling up debt. You also have in the background Mr. Bernanke, who with artificially low interest rates enables the debt to essentially escalate endlessly.”

On where he sees the equity markets given Obama’s reelection:

“You have offsetting factors. The problem with Mr. Obama is that you get more regulation and it’s disincentive for businessmen to hire people. You probably also get higher taxes, so in terms of the economy, he is very negative in my view. But you still have Mr. Bernanke, and you still have because of money printing very high corporate earnings. They are now coming down, but they are still at the elevated level. You have money printing supporting the market and on the other hand, you have an economic slowdown globally which will affect earnings negatively. It is difficult to tell where the market will go because we have so much manipulation. I think, minimum, it will drop 20%.”

(snip)

[scott7278]

I bought an AK-47 today as a way of giving the finger to Obama and his supporters...hee hee.

[Secret Agent Man]

If you starve the takers, there will be less of them.

When they go batshit, they will first decimate each other.

They are already aborting themselves in record numbers. Not that I celebrate the most helpless of us being killed before being born, but it’s one less taker that will be inculcated into the taker mentality to eventually have to deal with.

[jocon307]

Flamethrower, I want a flamethrower, as a freeper once told me “everyone does”.

[dfwgator]

If I had a rocket launcher, some son-of-a-bitch would die.

[RckyRaCoCo]