Marc Faber on Armageddon – Gloom, Boom, Doom
Written by Marc Faber – GloomBoomDoom.com and The Economist Intelligence Unit ViewsWire | Friday, 15 May 2009 07:47
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.
“If you’re in any field, you should own a farm because one day you will be grateful that you are able to grow your own agricultural produce.”
Recovery will be slow because government meddling in the markets will postpone it. He argues that the final low for markets and for growth will only come when the debt and losses have been cleaned out of the system.
Unless the system is cleaned out of losses, “the way communism collapsed, capitalism will collapse.” (Read entire article at LINK)