Marc Faber: Obama’s Job Package ‘a Complete Joke’

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Patrick Allen
CNBC
Sept 9, 2011

Pimco’s Mohamed El-Erian might like what he sees in President Barack Obama’s $447 billion jobs package but not so Marc Faber, the author of the Gloom, Boom and Doom report, who is not happy about the President’s plan.

The package is “another complete failure of Keynesian economics and corrupt interventions,” Faber told CNBC.com on Friday morning.

Other economists have welcomed the plan as it attempts to boost employment.

Faber’s major problem is that governments around the world are attempting to cut spending, not spend more.

“This all amid talk of deficit reductions,” said Faber. The package is a “complete joke.”

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14 Responses to “Marc Faber: Obama’s Job Package ‘a Complete Joke’”

  1. well,

    At least the headline is a factually correct one for once…..his LONGGGG awaited and much touted 3RD rate speech, (yes Obumbles DID get the smackdown from the dont-fuck-with-us NFL and agreed to a 7pm timeslot instead of the coveted 8pm that he demanded.. LOL) that was once again written for him by others and his telepropter-reading was on full power with the peanut-gallery of unimportant and irrelevent non-SUPER-commity low-life democrats applauding on que………………………….yawnnnnn…………………. got what for T.V. ratings?!?

    DO I HEAR CRICKETS…….

    Yes,

    His magesties ONLY talking points were vauge promiseses about obscure tax-break this, and unkown funding from , ah, er…. I will DISCLOSE the funding at a later time…. MORE spending, bla bla bla, I got handed this mess, bla bla bla……

    NOBDY CARES ABOUT WHAT THIS HAS-BEEN DOES! HE IS NOW THE OFFISH-AL “ONE AND IM DONE” CANDIDATE!!!! LOL

    Matzo Man Reply:
    September 9th, 2011 at 10:05 am

    Yep, it’s another problem so throw money at it. That’s the only solution to everything for these clueless crooks.
    And no one cares if the money is borrowed, except us.

    YOUNG PEOPLE should care though. They need to get rid of this turkey.

    wiggins Reply:
    September 9th, 2011 at 2:05 pm

    Socialism…….and in the end you go skint, like all the other failed Socialist Projects which lead to the EMF.

  2. 447 billion now?

    IF bungholio were to tell baled out automakers to mass produce permanent magnet alternators, blades, hubs, and grid feeding controllers for 5 mini-windmills on every rooftop..
    mills that are now 4-500 bucks each could be 200, the grid feed boxes from 7-800 down to 3-400, would leave a good 300 bucks each to 2 installers, at a total of 2000 bucks per home on a package that’d pay for itself within 2-3 years most places.

    447 billion could equip 2,235,000 homes, theyed likely save 30% of their electric bill, and it’d be about 5 million “one shot” jobs, to start with.. thered also be the production of valuable items for export, and occaisional maintenance jobs afterwards. a trillion could be 5 million homes…

    it could be the difference of choosing to EAT, over freezing or cooking from winter cold or summer heat, to a granny on a fixed income. for others the savings could be applied to buying solar panels
    or an electric short trip commuter grocery getter vehicle.

    it takes ENERGY to be productive, and the cost of energy is now ridiculous!

    more bang for the buck:
    retrofitting all the existing sewage treatment plants to collect and burn methane through engines to generate electricity would create a LOT of jobs.. someone has to go to the junkyards for serviceable engines to replace em when they break down, is a part of it.
    WE only use about 15% of the calories we eat, and our output is about 125 watts (1/6hp)..
    this does mean theres potentially 5-600 watts available per person, and that a household of 3 could provide itself with half of its own energy demands just for the fact of eatin-n-poopin, no joke.

    RIGHT NOW, the lake behind hoover dam is pathetically low because water is GUSHING through the turbines trying to keep up with the demand for energy. the combination of methane and wind generation could trim that demand to 25-30% of what it is now.

    I’m not a “greenie weenie”, this stuff is real. it’d help the economy, and the ecology.

    TPTB will drill all day-week-month-year for OIL, but not geothermal HEAT to make the steam to spin the turbines.. we dont need nuclear reactors to boil water, with its scorched earth genocidal byproduct depleted uranium, which costs a bundle to enrich in the first place!

    the last thing TPTB ever want to see is giving power to the people, even literally.
    they WANT everyone unemployed homeless and dependant, is VERY unAmerican!

    we NEED cheap energy, we NEED productivity and items for export. everything DC does is 100% in denial of that, DC is more interested in waging war against US, is the truth of it.

    Spymyeys Reply:
    September 9th, 2011 at 8:55 am

    You and others on this site Capt. O., have your shit wired tight and it gives me hope to see and comment with REAL americans on this and many other sites.

    Knowledge is power, and just like a gun it is a tool that can be used for either good or evil.

    It is up to each individual to make his/her own peace with god and stand up for what you know in your heart is right, and AMERICAN.

    We will be able to put this country right again, our forefathers saw this exact thing almost 300 years ago and that that fear of out-of-control federal government can/will be taken down by the combined arem citizens of america and a NEW constitutional rule can begin with NEW safeguards against the things made the old system breakdown never happen again.

    NEVER shall we suffer a traitor to god country again, or a liar.

    kenn Reply:
    September 9th, 2011 at 10:17 am

    Most of these require windspeeds of 25+ to generate rated wattage.

    How many of you get this type of wind consistently?

    Most of the “returns” are in the form of tax credits (aka you paying for someone else’s turbine)

    Here’s what is not being said…

    Assume a 500 dollar Turbine with a state of the art Chinese charge controller

    Assume the Inverter, breakers, panels, and associated costs at about $4000. This does not include a building conduit or wire.

    Assume Solar/Wind Batteries (48VDC setup, 2 banks of 6VDC) at about $6000. Does not include shipping and will have to be replaced every 5-7 years)

    Grand Total $10,500

    Assume a 10 MPH avg wind for 12 hours. This might produce 2.4 KW per day.

    Assume $0.15 per KW from the grid. This amounts to about 70,000 KW

    At 2.4 KW per day it will take 79.90 years to break even assuming nothing breaks and the batteries last forever.

    I happen to have a 4KW Solar system as an emergency backup. 16 Kyocera Panals, Outback Inverter and charge controller with 16 Trojan Solar batteries. Total Cost = $26,000 so I have a little experience in this area.

    Yes you can eliminate the batteries, pay for a on grid metering system. The power companies pay back about 0.05 cents per KW. Then you never break even,,,, at least in your life time….

    Only by stealing your neighbors income (taxes) can you recover maybe 2/3 of the initial installation and only in certain states. Take Florida for example. They will only rebate if installed by a licensed installer. Also they cap the amount of budgeted money per year. You get put on a waiting list and maybe a few years down the road you get some money.

    Disclaimer: Yes I took the Federal Rebate. About 30%. Total System cost now $20000. I did the installation.

    Unless you have money to waste (as I did at the time) or want to be self reliant no matter what the cost I wouldn’t recommend it.

    My 2 cents…

  3. yes odummer is nothing but a joker card for the moneychanger scum

  4. Sorry, but I don’t agree with you regarding this

    – C. Banks

    (click on profile name for more info on my latest video) “HOW WILL YOU FACE THE AMERICAN APOCALYPSE IN 2011: how you can protect yourself and position yourself for the greatest wealth transfer in history.”

  5. They built the new Trade Center with German steel and glass from China. It doesn’t matter whi is in the White House they are all full of shit.

  6. what ever happend to the facebook link where you could share these articles? everytime I hit the facebook icon it just takes me to Alex Jones facebook page….instead of letting me post the link to the story….

    Spymyeys Reply:
    September 9th, 2011 at 11:25 am

    CUT PASTE MY FRIEND,

    —————————————–CUT——–AND——————PASTE!———————-

  7. More cons from the ultimate Con Man Barry Soetoro.

    He wants to buy time, you know, like a cornered rat.

  8. Yea, when are we going to get free energy Barry? LOL (TESLA)

  9. THE NEXT PRESIDENT CAN’T FIX THE FEDERAL RESERVE THAT IS BANKRUPTING OUR NATION!…

    … paper money will become worthless… you have to prepare yourself and your family for the financial crisis ahead.

    *** globaleconomicvideo.blogspot.com ***

    This is a must see video… you have you prepare yourself and your loved ones before it’s too late.

    I’m posting my blog video here because I need to reach out to the real people who are effected by the Global Economic Crisis. Please pass this video on.

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