Marc Faber shares his thought provoking insights with us regarding freedom of the press the economy and also Blockchain technology. Other important subjects discussed is the Central Banker’s control over the economy and President Trump.
Dr. Marc Faber is a Swiss investor based in Thailand. He publishes a widely read monthly investment newsletter “The Gloom Boom & Doom Report” which highlights investment opportunities. He is also a published author and a regular contributor to several leading financial publications around the world. When it comes to investing your hard-earned money, he is the perfect person to learn from.
This episode visualizes the possibilities of the future in terms of Economy and Investments. As an expert in the field, Dr. Faber explains how the world has changed rapidly and what could be expected in the coming years. He also offers great insights on what to consider when investing your money.
A big difference between the market today and that of the 1987 crash is unfunded pensions. Renowned investor Dr. Marc Faber, who holds a PhD in economics, says, “The unfunded liabilities have gone up.
They did not go down. So, if in rising asset markets the pension funds unfunded liabilities go up, can you imagine what will happen when markets fall? So, they will have to print money.
Bear markets do not occur just because of one event. It’s a series of circumstances that lead to a loss of confidence with people exiting markets, and then with people exiting markets in a panic.
Fed Head Janet Yellen said if conditions would warrant further measures, the Fed would take further measures. So, she (Yellen) said if the Fed thought the economy was weakening, or their beloved asset markets go down, then she may again ease and introduce QE4 (money printing out of thin air.).
In today’s situation, the asset market is less overbought, but the asset bubbles are everywhere. Each bubble has fraud cases, and I mean massive fraud. That’s the characteristic of each bubble. There is fraud.”
Dr. Doom has cited freedom of speech as part of his decision to not rescind his racist comments.
Marc Faber, the Hong-Kong based, Swiss-born financier, known as Dr. Doom, faced severe backlash this week for suggesting that the U.S. prospered because it was settled by white people rather than black people. While the comments have led to his being dismissed from the boards of three firms, Faber does not appear to feel remorse for what he wrote. Faber told the New York Post in an email, “If I recall we have freedom of speech and expression. I am not prepared to compromise this freedom and liberty.”
He reportedly exchanged additional emails with the outlet, further clarifying his remarks. He explained that he is “aware that we all have different values, but I was talking about economic progress when I wrote my report, not [white nationalist] values.”
When Faber was asked about his opinions on the abilities of African Americans and their capacity to “deliver economic progress,” he simply replied, “May I suggest you travel extensively through Africa and you will find — hopefully the answer.”
When asked for comment on the Post report and the backlash over his comments, Faber told Fortune that, “If this is the only sin I committed in my life I would feel like a saint.” - Source, Fortune
Share prices in the US have posted fresh record highs in recent days as fears over North Korea fade.
But a sharp downturn is coming and will be as bad as the 2008 shock, according to Marc Faber, who has warned investors are too complacent.
He told CNBC: "You don't see, and I don't see. And, nobody sees. That's why people keep buying stocks.
"And yet, something will happen one day."
He previously said billions of pounds worth of holdings will be lost when stocks fall a huge 40 per cent.
And said the crash is likely to happen when Wall Street least expects it.
There are several scenarios that could trigger market carnage, according to Mr Faber.
The pessimistic critic said: "I think it may very well come from a credit event.
"Or, it may come from the disclosure of a major fraud.
"Or, it may come because interest rates start to go up."
US stock markets continue to reach for the sky as the US Federal Reserve yesterday signalled further rises in interest rates.
The S&P 500 has hit 36 record highs this year, while the Dow has notched up 41 highest ever closes.
But the US Fed has forecast three rate hikes next year and there could also be a rate rise in December.
Dr Doom, as Mr Faber has come to be known, said the market is overvalued: "In 2009 when stocks bottomed out, I can tell you that not many people saw why stocks would go up.
"Now it's the opposite. The sky is clear. Corporate profits have been expanding — they're good.
"Interest rates are low, but valuations are very high."
