I would like to point out, regarding the markets, people focus on indexes and I am sure that indexes are important: If you look at markets since last November, the low was on November 21, and some indexes have made new lows like the Transportation Index and the Dow Jones.
But the Nasdaq 100 has not made a new low that does not have financial stocks in it, is still above the November lows, so I would not give up entirely on the theory that we can still have some kind of a rally developing relatively soon.
For the simple reason, the news on the economy has been horrific and the economic news will stay bad for quite some time and the global economy will continue to deteriorate. The question is however, to what extent have asset markets discounted much of the bad news.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world. Dr. Doom also trades currencies and commodity futures like Gold and Oil.
