Faber: Central banks will create global socialism

They actually already have plenty of socialism.
They actually already have plenty of socialism.

He makes a good point. The next economic downturn is likely to be nastier than the last and in an effort to “save” the world central banks will probably buy up everything in free fall, bonds, stocks, real estate. It is sad that we are talking about such a scenario. The statists think there is nothing to hold them back.

Fabian_Society cc

This is socialism which will help the asseted, the rich. A deeply crony economy. The majority however, the majority which need corrections to buy assets at reduced prices, they’ll be left in the cold. It’s all so Old World European.

(From CNBC)

“The central banks aren’t interested in what works, they’re interested in their own prestige. And they are so deep into it already and it didn’t work. They will increase the medicine,” said Faber, the publisher of The Gloom, Boom & Doom Report. “Eventually, they’ll buy all the government bonds; they’ll buy all the corporate bonds, all the shares outstanding. Afterwards the housing market goes down, they’ll buy all the homes and then the government will own everything.”…

…”I could see a situation where at the end the government owns all the corporations and all the government bonds and then we are back into socialism, into a planning economy,” said Faber.

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