Here is Faber's Wikipedia Bio. Read it and see if you think he is credible. There is a funny quote from him about the stimulus check issued to individuals in Spring '08:
Dr. Marc Faber concluded his monthly bulletin (June 2008) with the Following:In the CNBC article Faber has a quote about Optimism that I completely agree with:
The federal government is sending each of us a $600 rebate. If we spend that money at Wal-Mart, the money goes to China. If we spend it on gasoline it goes to the Arabs. If we buy a computer/Software it will go to India. If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala. If we purchase a good car it will go to Germany. If we purchase useless crap it will go to Taiwan and none of it will help the American economy. The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US. I've been doing my part .
Marc concludes optimism comes from some simple but important principles:Lately, I have met several people who have become invaluable assets as I seek knowledge, understanding, and guidance through what I personally consider troubling times. The other day, I was having a conversation with one of these colleagues that has come to be someone whose opinion I highly value.
1) The ability to adapt to change: whether economic, financial, personal or social.
2) Accept responsibility when things go wrong that are your fault, and don’t blame others.
3) And take comfort in the dynamism and drive of the human race. Marc points to Asia – where he has lived for several decades and witnessed the transformation of lifestyles.
He said to me, "Thom, do you know how you earn credibility?" ..... "You earn credibility by telling people what you are going to do, then you lay out a plan of action, and then follow through on that plan with action." ..... "Once you have succeeded, then you have established credibility."
What the Hound is Learning: Credibility is defined as capable of being believed. We aren't seeing much of that from elected leaders these days. Yet, I have met so many people out here in the real world who have all of the qualities that I desire from a leader. But, they are either unwilling to run or they have been run over by the electoral process.
Faber hits the nail on the head and the antithesis of what he defines as Optimism is exactly what we are getting from our elected officials. How much adaptation to change have we seen, whether at the local, state, or federal level? How much finger pointing and hold-up hand gestures have we seen from our leaders, who never accept any blame for the consequences they created? And when was the last time any of these elitist politicians put any faith in Human innovation and ingenuity?
I don't have any faith in politicians who don't represent and/or expect excellence. Doing the minimum should be an expectation, not a reason for adulation. We should assume that our roads are going to be maintained, that the garbage will be picked up, that water and sewer will function properly, that the police will keep us secure, and that constituents' needs will be addressed. The bureaucracy administers those issues any way. We need Leaders to proactively seek issues and objectives that will improve the community.
We should have faith that our elected officials will look out for every citizen's interest, no matter whether they voted for them or not, or whether they are rich or poor. Jesus said, "As you've done to the least of these, you've done to me." What about those kids that aren't getting to swim this summer in Ridgeview or West Hickory?... Lobbyist/Kids? ... HDDA/Kids?... We need to get some priorities straight around here!!!
Personally, I have nothing against our city's elected officials. For me, this is not about personalities. This is about Access, Accountability, Attitudes, Direction, Decisions, Ethics, Expectations, Issues, Momentum, Purpose, Vision, and most of all Results. I am sure that grudges will be held against me for many of the things that I say, but folks I'm not going to hold back, because in the end I am not the one who will be deciding whether the shoe fits or not.
My goal is for this area to be a more optimistic and brighter place, but that optimism can't be forced or controlled. Leaders need to remember our heritage and the people who sacrificed so that we can be here today. Remember our ancestors hopes and dreams and try to fulfill them, for their honor. Please understand that Leadership is not a birthright, it is a privilege.
I know that my father and grandfathers believed in this country and they had dreams that they wanted me to fulfill. They all lived here and they cared about this city and they loved the "Land of Opportunity." They would not have wanted me to settle for second rate and I can't understand anyone who does, by word or by deed. I cannot run for office at this time or I would. I know that there are people out there that can meet the challenges that lie before this city.
We can no longer afford the bunkered down, hunkered down, status quo approach. We have got to have people who realize that we have to change our foundation and structure or we are going to become completely irrelevant as a community. Completely irrelevant means a lower standard of living and quality of life for your family. It means your younger family members and relatives will continue to leave the area to seek the opportunity that should have been developed here. And it means a Least Common Denominator and Lower Expectation Lifestyle for those who remain.
Optimism and Credibility, two mental abilities that can be fostered by positive action. How can anyone cry about this community not being optimistic when our current leaders want us to just stand still? The world is passing by. We better start running or we'll never catch up to it!!!
