The preeminent global macroeconomist on current financial situation.Lengthy interview with some startling conclusions:US $ will lose 90% of its purchasing power in the next 10 years(having lost first 90% since The Fed was created in 1913);when asked for one piece of advice for an individual investor Faber's reply: " don't trust the government"....Note: for those unfamliar, this is no "fringe" individual :
" Dr Marc Faber studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude.Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, MARC FABER LIMITED which acts as an investment advisor and fund manager.He is also associated with a variety of funds and is a member of the Board of Directors of numerous companies. "
http://www.financialsense.com/Experts/2006/Faber.html

Most all of Jim Puplava's programs are worth listening to.
Like his breakdown and analysis of how the government falsifies the economic figures, especially inflation and unemployment .

IM ROGERS: I think that Europe is making a mistake bringing in those countries. What I think is that Europe should do is bring in Turkey. Turkey has 70 million people. Turkey is an unbelievably young country. The countries you are talking about have a declining population and a declining birthrate. Turkey is very vibrant. They have a very, very good manufacturing base. That would solve a lot of Europe’s problems.

DANIEL YERGIN: And a strong entrepreneurial culture.

JIM ROGERS: Very strong entrepreneurial culture. This new government is terrific. I happen to have confidence in the new government. So, if Europe would bring in Turkey, which they probably won’t..

DANIEL YERGIN: There seems to be a certain degree of opposition.

JIM ROGERS: They say because they are not Europeans, but what they mean is they are not white. But that is outrageous if you ask me. And because they are not Christians. Who cares if they are not Christians and if they are not white!

MARC FABER: I agree we should bring in Turkey and Iraq. And then we would have some oil. So that would solve a lot of problems.

MARC FABER: No, I think in general, for Europe to become larger will be a plus because it will break the rigidity to the Western European systems at the present time. It will bring new culture, new people and so forth, and they will be harder working. Production will shift partly to Eastern Europe, so the cost will be lower and Europe will become more competitive. But I know everybody is bearish about Western Europe. I tend to be more optimistic, because I think that the statistics in the US have been doctored for the last ten years, especially in terms of productivity. And so I think that we

JIM ROGERS: I know that the figures about productivity and inflation are doctored, butchered. They are a sham! A total sham! I just told you commodities are up 80% in the last four or five years. And yet, if you listen to the US government, they will tell you there is no price increases. They will tell you that the price of oil is down. You know what? In November they said the price of heating oil went down 11%. Get out the numbers that they told you. I called them up and said, “How can it be down 11%, The Wall Street Journal said it is up 25%. My oil man says it is up over 25%.” How can you say that?" But the United States government reported in November 2002, the price of heating oil was down 11% and therefore there was no price inflation in that month.

DANIEL YERGIN: So you think that someone there calling up and saying, “Hey, fake the numbers, Joe.”

JIM ROGERS: I know! I have had BLS [Bureau of Labor Statistics] guys write me and say, “Look, we were told that we have to smooth out the numbers.” I know they are faking the numbers. And so does the rest of the world.

35:45 MARC FABER: Yes, and a lot of economic adjustments and so forth. And also, it is measured on a 40-hours week. If you work 41 hours or just a half an hour longer, it makes a huge difference on productivity numbers. And a lot of people work from their homes so that is not in the figures. In the service economy, lots of people work at night and so forth.

DANIEL YERGIN: So, do you think the GDP numbers are faked too?

JIM ROGERS: I know they are faked! The whole thing is faked.


http://www.financialsense.com/transcriptions/Riverside.htm

http://www.financialsense.com/transcriptions/Riverside.htm
Disconcerting to read this - Turkey's inclusion in the EU would be the nail in the coffin of Western Europe...
A good site re:doctoring of Gov't. stats http://www.gillespieresearch.com/cgi-bin/bgn/

snip:The Shadow Government Statistics' Early Warning System (EWS) was activated in May and signaled the onset of a formal recession early in July 2005. However, negative GDP growth is not likely to surface in regular government reporting until after the November election, given the rampant political manipulation of the GDP, employment and CPI. The National Bureau of Economic Research (NBER) should time the downturn to mid-2005 and announce same also sometime after the election, so as not to be deemed politically motivated in its timing. Further, thanks to the largely ignored federal budget and trade deficits that now are spiraling out of control, the current downturn is at high risk of deepening into a hyperinflationary recession.

snip:The Shadow Government Statistics' Early Warning System (EWS) was activated in May and signaled the onset of a formal recession early in July 2005. .

Shadowstats.com is a good source of realistic stats, like a current 12.5% unemployment rate .



"JIM ROGERS: I think that Europe is making a mistake bringing in those countries. What I think is that Europe should do is bring in Turkey. Turkey has 70 million people."

Rogers seems to be bright , in financial matters; and a total dunce when it comes to race. He has said that many countries in Africa are good for investments . Yeah if you're a jewish arms dealer or resource smuggler.