Marc Faber: Bernanke Is a Liar.

Marc Faber and several others (e.g. Jim Rogers, Peter Schiff, Ron Paul) who understand Austrian economics predicted the housing crisis and the financial crisis.  Knucklehead Keynesian economists like Ben Bernanke and all the talking heads on CNBC failed to see the coming crisis.  They are ignorant liars.  Enjoy the short video below.

Marc Faber: Bernanke Is a Liar

Bull Source

Investor Marc Faber talks with CNBC about the false economic recovery, Egypt, emerging economies, and inflation.

Faber believes the global economy may be okay for the next six months. “We have to realize that it’s an artificial recovery driven by ultra-expansionary monetary policies and also ultra-expansionary fiscal policies,” he comments. Faber predicts that deficits will lead to renewed problems down the road.

“The annual cost of living increases are more than 5% today and the Bureau of Labor Statistics is continuously lying about the inflation rate, including Mr. Bernanke. He’s a liar. Inflation is much higher than what they publish.”

Faber says the true cost of living increase for most US households is 5-8%, and just below that in Western Europe.

Reprinted with permission from Bull Source. You can subscribe to Bull Source posts for free here.

February 5, 2011

© 2011 Bull Source

Dr. Marc Faber [send him mail] lives in Chiangmai, Thailand and is the author of Tomorrow's Gold.

 

Here is the original link from www.LewRockwell.com: http://www.lewrockwell.com/faber/faber95.1.html

 

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