The Foreign Perspective

Foreigners Don't Hold Much Regard for Obama
We have told our readers that they should always check news outside of the Lame Stream media to get a REAL feeling on the actual news. Equally true for financial news.

Dr Marc Faber was born in Zurich, Switzerland. He is an economist and publishes a monthly world-wide newsletter on investing. He was recently asked what he thought of Obama's SOTU speech and here is what he said:

"I think he’s done a horrible job and I think that will continue... I think he is a dishonest person [Obama], and nothing has changed… Some politicians are more honest than others. I don’t think that I have a very high regard for politicians, I have a high regard for businessmen and for people who work, and not for people who abuse the system continuously. And in comparison to other politicians, I think he came in on a platform as a president that would want to change the government in Washington, and actually he’s made it worse."

So What You Ask?
Marc Farber has correctly predicted several economic downturns in recent times and he differentiated between George Bush and Obama by saying:

"We foreigners, we just laugh at someone like Mr. Obama. I was very critical of Mr. Bush, but at least he had one line and he stuck to that line, and at least he set out to do a thing and he was relatively straight on that thing that he did. He may have been wrong and I criticized him very frequently, but at least he didn’t change his mind continuously, and didn’t prostitute himself [like Obama]."

Economic Fix for the USA
Farber went on to say that Obama should be telling Americans that "they have to all tighten their belts." He said that "We have to go through hard times for five years to repair the damage that was committed over 20-25 years by the Federal Reserve, by the Treasury, by the politicians, and somebody has to tell the truth." He also said: "But the politicians keep on fueling the illusion that you can spend yourself out of the misery, and that by printing money you will improve the economy, which is not the case."

Why Aren't We Getting This Message?
Don't you find it confusing that we are not hearing this message here at home from the President or the Lame Stream media? Our national debt is destroying the country.

Obama is throwing good money after bad and we keep letting him do so thinking that everything will be OK. Now he wants to "invest" (more spending) in high speed rail, pharmacological medicine development, and green jobs. These will take years to develop and we need to CUT SPENDING IMMEDIATELY! Let's face it, Obama has NO QUALIFICATIONS in economics. His policies have failed. If you believe that 9.4% unemployment rate is an indicator that the recession is over, then you are naive. Foreigners definitely have a different outlook for the USA. When will the majority of American wake up?