Thread: Marc Faber To America: Tighten Your Belts, You Need To Work

Marc Faber To America: "Listen You Lazy Bugger, You Need To Tighten Your Belts, You Need To Work More For Lower Salaries"

Submitted by Tyler Durden on 10/11/2011 14:51 -0400
Video at the link:

Once again, the latest fire and brimstone sermon by Marc Faber is absolutely spot on, starting and ending with his "policy" recommendation for what the US needs: "I will tell you what the US needs. The US needs a Lee Kwan Yew who stands in front of the US and tells them, listen you lazy bugger, now you have to tighten your belts, you have to save more, work more for lower salaries and only through that will we get out of the current dilemma that essentially prevents the economy from growing." No money printing, no extensive protests, no excuses. Of course, this would have to accompany a global overhaul of the system, something Zero Hedge has been advocating since day one, as it is impossible to reform this broken system from within: "The problem i have with the investment universe is that i find it difficult to envision how the US and western Europe can return to healthy sustainable growth without a complete purge of the financial system and some type of catalyst. Something that restores some measure of social cohesion among people; it could be hyperinflation, a complete credit market collapse, widespread sovereign defaults, civil strife, major military confrontation.â€

We will never return the American working class to prosperity by lowering wages and reducing regulations on our already largely unregulated gangster capitalists. What we need to do is stop ALL trade with China and othe 3rd World nations and brng back the factories to the USA. Pat Buchanan has all the answers. Read his books and articles!

Originally Posted by Achilles

We will never return the American working class to prosperity by lowering wages and reducing regulations on our already largely unregulated gangster capitalists. What we need to do is stop ALL trade with China and othe 3rd World nations and brng back the factories to the USA. Pat Buchanan has all the answers. Read his books and articles!

AMEN

I thought most American families were requiring 2+ jobs to earn what one wage earner used to provide?

It already takes 2+ incomes per family, how do we... oh yea we can just reinstate child labor and get rid of the 40 hour work week and all those other worker health and safety laws that are such a nuisance to our Globalist overlords.

W

Originally Posted by Achilles

We will never return the American working class to prosperity by lowering wages and reducing regulations on our already largely unregulated gangster capitalists. What we need to do is stop ALL trade with China and othe 3rd World nations and brng back the factories to the USA. Pat Buchanan has all the answers. Read his books and articles!

Even if that were the right thing to do (by the workers) how are you going to force the shareholders of a company to settle for less profit? The shareholders, over the last two decades, have found that they have a lot more clout, and they will demand that the boards and CEO's do the most profitable thing, which is to invest overseas. And governments are busy doing something similar---buying from overseas suppliers in an effort to contain costs. Witness the Oakland Bay Bridge replacement in Pelosi's district: fabricated in China and apparently assembled with a large number of imported Chinese workers.

Obama toyed with laws to restrict the shipment of US jobs overseas. I'm not sure of all the ramifications of the fair trade/free trade issue, but I don't see a lot of hope that the probusiness lobby would help much, unless there is an authentic genius in charge at the federal level who can get US business and labor, union or not, working together.

Originally Posted by Captainron

Originally Posted by Achilles

We will never return the American working class to prosperity by lowering wages and reducing regulations on our already largely unregulated gangster capitalists. What we need to do is stop ALL trade with China and othe 3rd World nations and brng back the factories to the USA. Pat Buchanan has all the answers. Read his books and articles!

Even if that were the right thing to do (by the workers) how are you going to force the shareholders of a company to settle for less profit? The shareholders, over the last two decades, have found that they have a lot more clout, and they will demand that the boards and CEO's do the most profitable thing, which is to invest overseas. And governments are busy doing something similar---buying from overseas suppliers in an effort to contain costs. Witness the Oakland Bay Bridge replacement in Pelosi's district: fabricated in China and apparently assembled with a large number of imported Chinese workers.

Obama toyed with laws to restrict the shipment of US jobs overseas. I'm not sure of all the ramifications of the fair trade/free trade issue, but I don't see a lot of hope that the probusiness lobby would help much, unless there is an authentic genius in charge at the federal level who can get US business and labor, union or not, working together.

Well, that's very easy!! If American multinational corporations want to build factories in China, just let them know they cannot export their goods to the USA unless they pay a very large tariff