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Prepare for War, the Death of capitalism and Bankruptcy of the US Government (not necessarily in that order)
A vintage performance from the author of "The Gloom, Boom & Doom Report". This morning – living up to his reputation for bearishness - Marc Faber forecast a litany of unpleasant events ahead.
His key message is: buy real assets. He thinks it will take years for the global economy to recover, but when it does the effect of governments' printing money will ultimately reignite inflation.
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While not an optimist on the Chinese economy near term – Marc likes Asian currencies, and banks ex-Japan. He also thinks the real estate markets are improving. Both Russia and Turkey get a positive mention.
Slideshow: The World's Biggest Debtor Nations
In Faber's world the US dollar will weaken, and the Yuan and commodity currencies like the Aussie dollar will appreciate.
Isn't there anything in the US he likes?
With just the slightest hint of irony (check gun sales numbers!) – Marc points to gun and ammunition makers. Prison builders also face better prospects he says – after all where will they put all the politicians!
Given the apparently extreme nature of Marc's calls, the question he poses in his May newsletter gives an interesting insight into his complicated mind.
Apparently he was asked by an Executive Director at Goldman Sachs how he remained so optimistic about life...
He writes in response:
"(he)...saw me smoking and thought that I should have already gone to hell (even under the 'Black Swan Theory', Heaven isn't an option), or because I ride fast motorbikes in Thailand (where there are no traffic rules), drink, and go out in the early hours of the morning? Or was it...my philosophy on life...to enjoy life even in the darkest times and most horrible situations..."
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http://www.cnbc.com/id/30759753
A vintage performance from the author of "The Gloom, Boom & Doom Report". This morning – living up to his reputation for bearishness - Marc Faber forecast a litany of unpleasant events ahead.
His key message is: buy real assets. He thinks it will take years for the global economy to recover, but when it does the effect of governments' printing money will ultimately reignite inflation.
...
...
While not an optimist on the Chinese economy near term – Marc likes Asian currencies, and banks ex-Japan. He also thinks the real estate markets are improving. Both Russia and Turkey get a positive mention.
Slideshow: The World's Biggest Debtor Nations
In Faber's world the US dollar will weaken, and the Yuan and commodity currencies like the Aussie dollar will appreciate.
Isn't there anything in the US he likes?
With just the slightest hint of irony (check gun sales numbers!) – Marc points to gun and ammunition makers. Prison builders also face better prospects he says – after all where will they put all the politicians!
Given the apparently extreme nature of Marc's calls, the question he poses in his May newsletter gives an interesting insight into his complicated mind.
Apparently he was asked by an Executive Director at Goldman Sachs how he remained so optimistic about life...
He writes in response:
"(he)...saw me smoking and thought that I should have already gone to hell (even under the 'Black Swan Theory', Heaven isn't an option), or because I ride fast motorbikes in Thailand (where there are no traffic rules), drink, and go out in the early hours of the morning? Or was it...my philosophy on life...to enjoy life even in the darkest times and most horrible situations..."
...
http://www.cnbc.com/id/30759753
Dr. Doom: Capitalism Could Fail Like Communism
A sustainable recovery will occur only when the corporate system will be cleaned of losses and capitalism risks collapsing if this does not happen, Marc Faber, the author of "The Gloom, Boom & Doom Report," told CNBC Friday.
The central banks will continue to print money at full speed, but long-term this strategy will lead to a fall in purchasing power and living standards, especially in developed countries, Faber said.
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http://www.cnbc.com/id/30742936
A sustainable recovery will occur only when the corporate system will be cleaned of losses and capitalism risks collapsing if this does not happen, Marc Faber, the author of "The Gloom, Boom & Doom Report," told CNBC Friday.
The central banks will continue to print money at full speed, but long-term this strategy will lead to a fall in purchasing power and living standards, especially in developed countries, Faber said.
...
http://www.cnbc.com/id/30742936
I couldn't find a full clip unfortunately
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