They Will Print Money Like the United States: Dr. Doom Warns China’s Economy Is Worse Than We Think
- Posted on July 16, 2012 at 1:05pm by
Becket Adams
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Investment analyst, entrepreneur, and author of “The Gloom Boom & Doom Report” Marc Faber warned Friday that China’s deteriorating economic situation is not only worse than we think it is, but that it‘ll soon force the country’s government to print more money.
(Related: ‘Dr. Doom’ Predicts: Investors Headed Towards ‘Massive Wealth Destruction’)
“What is your warning and what do we do about it?” asked the CNBC hostess.
“Well, I think first of all, investors must realize that the impact of a slowdown in the Chinese economy, which in my view is much larger than what the government has been reporting,” Faber responded.
“The [Chinese] government says GDP [Gross Domestic Product] has been growing at 7.8 percent. In my view, it’s much lower because we have very reliable statistics, say, export figures from Taiwan, export figures from South Korea. Where the largest export destination is China, they’re down year on year. Electricity consumption in China is hardly growing and so I think the economy in China is rather weak,” he added.
But why did stocks rally last Friday when these less-than-stellar reports on China’s economy were released?
“[T]he markets have rallied because they think that because of weak economic growth in China, they will stimulate, they will print money like in the United States and Europe and — it will boost prices for a while,” Faber explained.
Simply put, as one CNBC host said, investors took an almost “perverse” joy in China‘s economic data because it boosted their hopes that the country’s government would print more money — just like the U.S. and Europe.
Watch Faber explain his prediction [via CNBC]:
“I agree this is kind of a perverse way to get excited,” said Tim Seymour of EmergingMoney.com, “is that weaker markets bring stimulus which is artificial and it’s been proven to have less of a lasting effect.”
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Comments (65)
sillyfreshness
Posted on July 16, 2012 at 7:15pmIt doesn’t matter. Our whole world economy is being kept artificially propped up by an elite group of bankers and government officials. I guess another word for it would be Illuminati. It doesn’t matter if China announced they were bankrupt, it wouldn’t affect anything. The US could be a hundred thousand trillion in debt and yet the stock market will continue to go up, houses will continue to be built, manufacturing will keep growing. The only answer as to why or how this continues on is that it’s being artificially propped up. Glenn Beck was talking about this “coming disaster” for 3 years now and it still hasn’t happened. I can guarantee you that in the year 2025, the Dow Jones will be hitting the 50,000 mark, houses will be built in record numbers. It’s all a sham being propped up by bankers and the media. As long as they can keep everyone thinking nothing is wrong, then it isn’t wrong.
Report Post »12gaugesage
Posted on July 16, 2012 at 6:11pmWho the heck knows what is really happening? So little of what we get from the media is trustable, if things do go sour, the media will largely continue to lie to us. A decrease in our chocolate ration will be reported as an increase. The simple truth is this, the world is in a state of change, we dont know exactly how things will end up. Stock up on necessities, prepare for the worst, hope for the best.
Report Post »Stoic one
Posted on July 16, 2012 at 7:08pmYou hit on it in part. I bought a lawn tractor last year – 25 horsepower… this year same model , the power is listed in foot pounds. do the math and you will find the newer ones are weaker engines….
the same slight of hand i going on EVERYWHERE.
Report Post »GERATMO
Posted on July 16, 2012 at 4:32pmAll the pieces are coming together. China, Europe, and the US are all broke and our Governments think that spending money we dont have is the solution to our problems. Im getting more food and ammo.
Report Post »historyguy48
Posted on July 16, 2012 at 4:57pmComrades all is good, Dear Leader said so! I would suggest getting into a group of like minded people also, you won’t survive alone.
Report Post »Having someplace to go far from large cities is also very wise. This party has never happened before so nobody really knows how bad it will get.
If you read take a look at the e=book Death of Civilization; the Apocalypse Begins by Nathan Hale. It starts with survivalists going into hiding because of a monetary collapse. It is an interesting well researched story.
muffythetuffy
Posted on July 16, 2012 at 5:16pmDon’t those Chinese troops look fantastic. They wear spit polish boots too and no berets. Any American man who wants to serve proudly in the military should enlist in the Russian or Chinese Army.
Report Post »BlackCrow
Posted on July 16, 2012 at 4:12pmPrint money? Boy are they old fashioned! They should do like the Federal Reserve does, give some 10 dollar an hour clerk an order and they create any amount of money using the very same technology I am using here. Then give that digital money to the big banks that own the Federal Reserve so those big banks can buy up stocks to keep the stock market from crashing like it did in 1929. What the heck, it’s all phony anyway.
“Insanity is doing the same thing over and over expecting a different result.” A Einestine
Report Post »65Plus
Posted on July 16, 2012 at 4:19pmThis is, apparently, EXACTLY what is happening. According to Phil Grande [philsgang.com], the Fed gives the Big 5 some $4.5B/day to speculate in the stock market to give an artificial “normality” to the stock market. Apparently now China is also doing their printing. Fiat currencies all over the globe will be driven into the toilet where they won’t even make decent TP.
Report Post »conservative beckhater
Posted on July 16, 2012 at 4:00pmWow………..GBTV numbers continuing to slide. No wonder they’re combing GBTV with The Blaze and changing its name. lol
http://www.alexa.com/siteinfo/gbtv.com#
Report Post »65Plus
Posted on July 16, 2012 at 4:16pmWent to the site and see no such thing. The fact that Drudge is now citing the Blaze cannot be underestimated – they are a source of valid, first hand information. Does Drudge ever cite you????
Report Post »brother_ed
Posted on July 16, 2012 at 4:53pm@CONSERVATIVE BECKHATER
Those are stats for search engines.
I have The Blaze. Glenn Beck & GBTV bookmarked.
Maybe it shows the lines are drawn; those who wanted to find it have, the rest don’t matter.
Report Post »conservative beckhater
Posted on July 16, 2012 at 5:34pmNo. Alexa is the authority on how well websites are doing and it CLEARLY shows that GBTV ratings have been steadily declining. In addition, it shows that the GBTV audience consists mainly of men who never finished college and are over 65 years of age with most of the support in pockets like Salt Lake City where there is a heavy concentration of Mormons.
Drudge uses Alexa as an authority on web stats. No. The facts are evident. GBTV has been declining from day 1 and Glenn knows it.
Report Post »conservative beckhater
Posted on July 16, 2012 at 5:41pmVisitors to GBTV steadily declining. SEE THE CHART??? http://www.alexa.com/siteinfo/gbtv.com#
Report Post »UnfazedTruth
Posted on July 16, 2012 at 9:59pmI would be careful in stating that most people that view GBTV.com are over 65 years of age. That is not a legitimate stat at all. Summer months typically are slow for tv networks so it’s no big deal that GBTV is down a little bit. Nobody stated it would be easy and the fact of the matter is GBTV is still a little bit ahead of it’s time. Not to mention traffic on GBTV doesn’t necessarily mean revenue. GBTV’s revenues comes in the form of subscriptions. With the success of The Blaze and the continuation of new content on GBTV things will improve.
Report Post »Unix
Posted on July 16, 2012 at 11:10pmBeckhater – don’t you have anything better to do, like for instance, inform us what you think about the economy and the world? Do you think things are rosy or what? You are free to speak, but almost every thread, there you are bashing Glenn. He has been right and he has been wrong too. The summer is not over, nor the year, and come the end of this year we are facing a fiscal cliff, what will congress do? Put the pain off for another year? or two? then what? who pays our $170 trillion debt? look at usdebtclock.org for the numbers. Then there is the middle east, what happens there? No, you just hate Beck, that is all. I get my news from a LOT of places, not the lamestream media tho…if you are a conservative like you say, I’d be interested in what you think about the above and about Obama.
Report Post »conservative beckhater
Posted on July 17, 2012 at 7:14amUnfazedbythetruth, the demographics are supplied by Alexa. Take a gander and learn.
“Based on internet averages, gbtv.com is visited more frequently by males who are over 65 years old, received some college education and browse this site from home.”
http://www.alexa.com/siteinfo/gbtv.com#
Report Post »conservative beckhater
Posted on July 16, 2012 at 3:51pmLast winter and fall, Glenneth was ranting on and on and on about how this summer there was going to be riots in all the cities across the nation and “BLOOD WILL BE RUNNING IN THE STREETS” He said it. It’s in the transcripts of the shows. But so far this summer, NOTHING. He also predicted we’ll all see the “ARM OF GOD” and that we’re living in the biblical end times with Jesus returning to earth in Israel soon. Now he switches gears and is doing this silly “Restoring Love” Amway style rally. When are you people going to start holding Beck accountable and stop sending him your hard earned money? Wake up.
Glenneth has toned down the doom and gloom rants, but he needs to focus more on getting Romney elected or we’ll have a future just like the 2016 movie Dinesh DSousa is warning us with.
https://www.youtube.com/watch?v=nh4RzSfHdAc
Report Post »one.dakine.howlie
Posted on July 16, 2012 at 4:23pmHe‘s always said his timing isn’t always right but the outcome always happens. And it has. You people that look to disprove Mr. Beck try so hard that you can’t see past your nose anymore. Go look at everything Mr. Beck has said would happen. Everything he’s said has happened or is happening. His timing is usually not exactly on but it always lands within a few months of his predictions. You want him to be some sort of prophet that can just predict the future right down to the very hour. He‘s just a really smart man that actually does his homework and I contend that he’s been the best out of any person on this planet when it comes to predicting future events.
I suggest to you that you find somewhere else to get your news if you dislike him so much.
Report Post »brother_ed
Posted on July 16, 2012 at 4:56pm@CONSERVATIVE BECKHATER
OWS has lost it’s steam.
They have been exposed as rabble-rousers and anarchists. They are irrelevant now. That is because Beck and others have shown the light on them.
Report Post »conservative beckhater
Posted on July 16, 2012 at 5:40pmBeck makes broad-brush generalized claims so when something even remotely related happens he can point his finger and say “SEE!! I TOLDJA!” And the funny thing is, you lemmings lap it right up. You people are so gullible. Facts are facts though and Glenneth has been wrong about blood running in the streets this summer, wealthy people being dragged from their houses and hung and all the rest of his delusional paranoid rants about violence and social unrest this summer. HE WAS WRONG knuckleheads. Face it.
Report Post »Leon Harris
Posted on July 16, 2012 at 6:23pmGlenn isn’t always right, and I don’t always agree with him. he is however, searching for the truth and wants to see people live free. His guests have made so pretty damn accurate predictions, one example the author of The Creature From Jekkyl Island. The end game predicted in there is happening now. The Blaze isn’t my only source of news and information, and most thinking people try to have diverse accurate sources.
Report Post »conservative beckhater
Posted on July 16, 2012 at 7:30pmI agree with the late Andrew Breitbart, who was a straight shooting honest conservative voice and he agreed with me that Beck was a fear monger wioth a messiah complex. Glenn believes he speaks for GOD. That alone should make it clear for you guys – he’s marginally disturbed at the very least.
Report Post »girlnurse
Posted on July 16, 2012 at 3:31pmRemember this story about the half dead baby laying on a Chinese street and everyone walks by?
Report Post »http://www.telegraph.co.uk/news/worldnews/asia/china/8830790/Chinese-toddler-run-over-twice-after-being-left-on-street.html
Well, what I was thinking is…hmmmm they are some cold blooded SOB’s, OR the story is fake propaganda OR we are becomming more like them every day OR Hmmmmm they have cameras EVERYWHERE just like we do here in Amerika!
ANTIPATHIZER308WIN
Posted on July 16, 2012 at 3:03pmThe Chinese uniforms that lead into this article looked better than our Olympians that are also made there. OH BOY!
Report Post »65Plus
Posted on July 16, 2012 at 4:08pmTheir uniforms are probably made here. Lauren, a big Democrat donor, charged the taxpayers $1900 [tax deduction] for the female suits, which probably cost him no more than $20 to make. No Democrat every does anything honest. Mebbe Democrats should “pay their fair share.”
Report Post »mrawfull
Posted on July 16, 2012 at 2:35pmI made a pledge to myself to no longer purchase any more goods made from there.
Report Post »G-WHIZ
Posted on July 16, 2012 at 2:31pmMaking thousands of complete and empty cities and towns to keep them busy…Ya think they are not already prinitn $$??
Report Post »riseandshine
Posted on July 16, 2012 at 2:25pmOne world currency….here we come.
Report Post »Mutiny
Posted on July 16, 2012 at 2:49pmWith one world government to follow. This governing body will not care about our Constitution. Our guns will be taken so the rest of our freedoms can be taken easily. Hell 99% of our governing body doesnt care about the Constitution either.
Report Post »RLTW
Posted on July 16, 2012 at 3:02pmOne more case of ammo… here I come.
Report Post »glennrocks
Posted on July 16, 2012 at 2:19pmWant to do something that will help you sleep better? vote Mitt Romney.
Report Post »riseandshine
Posted on July 16, 2012 at 2:28pmI suppose that will help some people temporarily.
Report Post »the_system_disconnect
Posted on July 16, 2012 at 2:30pmNo kidding :)
the blaze g+ circle email michaelhill3 at gmail dot com
Report Post »Mutiny
Posted on July 16, 2012 at 2:51pmVoting Mitt Romney just means you are still asleep. Our freedom is under attack from both parties.
Report Post »conservative beckhater
Posted on July 16, 2012 at 3:57pmWhat are Glennrocks? Oh I know, that’s what he has instead of a brain. Beck needs to lay off the religious sermons and the supernatural nuttery and focus on getting Obama out of office by exposing what a fraud he is. This China story is just the tip of the iceberg. Obama wants to turn the USA into a third-world country. Come on Beck! You have the airwaves. USE THEM correctly and leave the sermons and the preaching for Sunday school. Ya knucklehead. https://www.youtube.com/watch?v=nh4RzSfHdAc
Report Post »conservative beckhater
Posted on July 16, 2012 at 3:57pmMutiny is an idiot. Romney is not just like Obama.
Report Post »762x51
Posted on July 16, 2012 at 5:07pmThat won’t fix the problem, just slow it a little.
Report Post »Chinishque
Posted on July 16, 2012 at 2:14pmI have done some work with folks in China and it is far worse than folks are letting on. First, they have under reported their population by approximately 300million, second, they need to create over 400,000 new jobs per month just to stay even with population growth and even the best estimates for the last year have not exceeded 200k new jobs in any month, third, their economy is critically tied to ours and if we aint buyin their jobs are dyin…So with all those mouths to feed they will print money to buy grain around the world this year as much as they can before the rest of us realize that their money isnt worth the poor quality paper it is printed on. My prediction is that the new rich and middle class Chinese will seek to offshore their money this winter and next spring and start buying US realestate and other assets causing a short term mini-boom and then a crash-recession as the world figures out that their money is worthless. Anyone watching grain futures? Buy Mortimer Buy!
Report Post »Buckeye4ABO
Posted on July 16, 2012 at 2:45pmWhich takes us to the outcome which NICKALLAOPP and I predict.
Report Post »psadie
Posted on July 16, 2012 at 11:18pmThe Chinese have already started to move their money out of China. They are buying pricey homes in NY, CA, and FL. But what happens when the world crashes; everything will be worthless.
Report Post »LeaveMeBe
Posted on July 16, 2012 at 2:02pmThe worst thing for the US would be if the Chinese gov’t became a real republic, adopted a real free market and allowed real rights to property. The same could be said for China vise versa.
Report Post »Nickallsopp
Posted on July 16, 2012 at 1:53pmThe prequel to the next world war, loss of economic growth, devalue of the dollar, oil gets harder to find. Countries get primal and start attacking each other the save themselves. Sounds bad.
Report Post »Buckeye4ABO
Posted on July 16, 2012 at 2:04pmAnd once again we are as militarily ill prepared as we were for the previous two.
Report Post »conservative beckhater
Posted on July 16, 2012 at 4:02pmDon’t worry. Glenn has promised that we’ll all see the ARM OF GAWD soon and Jesus will save us.
Report Post »Detroit paperboy
Posted on July 16, 2012 at 1:45pmSo they print Money to buy our debt, and we print money to pay them back….what could go wrong here ………hmmmmmmm
Report Post »Mutiny
Posted on July 16, 2012 at 2:53pmExactly. Man just think if we had a candidate running for president that wanted to end the FED and stop our overspending.
Report Post »iamgorilla
Posted on July 16, 2012 at 1:41pmSo where‘s that old fruitcake who said on Glenn’s show we should all learn Mandarin Chinese?
Report Post »HorseCrazy
Posted on July 16, 2012 at 2:25pmyou read my mind
Report Post »SIXFRIGATES
Posted on July 16, 2012 at 1:31pmThe Chinese have been printing American dollars for decades! lol
Report Post »SIXFRIGATES
Posted on July 16, 2012 at 1:30pmFinally, someone does a story on the facts. America’s economy is still the best in the world by a mile. The issue is keeping our economy out of any psychotic, evil, corrupt foreign hands.
Report Post »PaulHausser
Posted on July 16, 2012 at 1:25pmThey have been talking up China since 2009 because Obama and his Bolsheviks want us to be like them. It is a trick to make us unsure of our system of our government and economic systems.
They then say a Chinese style Communist system is what is needed here
Report Post »KidCharlemagne
Posted on July 16, 2012 at 2:46pmPaulHausser
Posted on July 16, 2012 at 1:25pm
They then say a Chinese style Communist system is what is needed here
===================================================
I got news for you……..the USA has been Communist for far longer now than China has ever been.
In fact, many of the principles of the current American system have been directly derived from Karl Marx’s Communist Manifesto:
———————————————-
2. A heavy progressive or graduated income tax. (16th Amendment to the U.S. Constitution)
5. Centralisation of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly. (The Federal Reserve Act of 1913)
Report Post »Karl Marx’s Communist Manifesto
phrogdriver
Posted on July 16, 2012 at 3:32pmThe problem with their theory is that the Chinese have propped up their economy selling the only natural resource they have in abundance: slave labor. But when the capitalists can’t afford to purchase that commodity any more, they are in deep do.
The Chinese economy is back to the 4th century without capitalists paying their workers.
Report Post »Gonzo
Posted on July 16, 2012 at 1:25pmCommunists love to print money.
Report Post »Mutiny
Posted on July 16, 2012 at 2:57pmYep, so do Democrats and Republicans. That is kind of why we wanted to go a different route with a different type of guy.
What kind of national defense will we have when we are bankrupt?
Report Post »woodyee
Posted on July 16, 2012 at 1:21pmWell,
If the Chinese own much of our debt, and they’re going under…
If I were owed money and I was feeling the pinch, I’d start collecting…
Report Post »BSdetector
Posted on July 16, 2012 at 1:15pmRemember when the Soviet Union said their economy was doing great and outpacing ours? Yeah, that was right before their collapse. Hey guess what Obama is saying about our economy…. http://www.youtube.com/watch?v=qevbhsmKFOQ
Report Post »SREGN
Posted on July 16, 2012 at 1:11pmProfessor Chaos is as we speak rushing to join Dr Doom in his secret mountain lair.
Report Post »HKS
Posted on July 16, 2012 at 1:15pmWould that be the one by the Denver Airport.
Report Post »Inlightofthings
Posted on July 16, 2012 at 1:11pmNo doubt that it is worse than ours. History and textbooks reveal exactly why that is…
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