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Bullish Today, Marc Faber Is “Highly Confident” the Future Will Be Very Bleak
Aaron Task
Yahoo Tech Ticker, Sep 22, 2009 07:30am
http://finance.yahoo.com/tech-ticker/article/337749/Bullish-Today-Marc-Faber-Is-”Highly-Confident”-the-Future-Will-Be-Very-Bleak
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Dollar depreciation leads to higher inflation and ultimately forces foreign creditors to question their rationale and indeed their sanity for continuing purchases of U.S. Treasuries." -Bill Gross
Signs continue that European markets are getting tired. The Spanish and Italian stock markets, big beneficiaries of the sharp decline in their bond yields over the past few months are falling to the lowest since Feb 1. The European bank index is at a 1 1/2 week low after earnings reports from Commerzbank and Credit Ag (RBS bouncing although reporting weaker than expected earnings) were disappointing. This market action is in spite of the German IFO business confidence figure which rose to a 7 month high coming in a touch above expectations and Italian consumer confidence which bounced more than...
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September 22nd, 2009 at 2:23 pm
[...] Bullish Today, Marc Faber Is “Highly Confident” the Future Will Be Very Bleak [...]
September 23rd, 2009 at 1:46 am
He makes a pretty good case. I think this other clip is interesting too. He focuses on the weakening dollar and advises going long almost anything rather than $US:
http://finance.yahoo.com/tech-ticker/article/338419/Buy-Stocks-Because-U.S.-Dollars-Will-Be-%22Worthless%22-Says-Faber?tickers=fcx,gld,nem,chk,ng,xom,pfe
I agree that continued loose money could push us even higher. Better to be in hard assets or foreign currency than short for now.
September 23rd, 2009 at 9:01 am
Isn’t it interesting? Most bloggers at sites like this, feel very uneasy when Faber states, “In this crisis, nothing has been solved” and when you think of this over a cup of coffee, you realize he is exactly right. The government’s programs, when boiled down to their essence, are just pushes to make us spend more. And the way we are set up, that translates to greater debt. So far, individuals and businesses have resisted, so the government, WITH FIAT SPENDING, pushes the taxpayer and businesses further in debt. And by fiat, I don’t mean the dollar, I mean the spending that the taxpayer refuses to make.
In the future, I think it entirely possible that historians may say that capitalism was in large part destroyed by the efforts of two men. No, not Marx and Engels. Greenspan and Bernanke.