Latest Marc Faber`s video interview dated 10/29/09 at Barron's Art of Successful Investing Conference.
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.
30 October, 2009
The Bernanke Put: S&P 500
“As soon as the S&P 500 drops toward 900 or 800, Federal Reserve Chairman Ben Bernanke will print money again.” in Bloomberg
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.
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.
29 October, 2009
Video: US Dollar Outlook
Marc Faber, publisher of the Gloom Boom & Doom Report, and Jim Rogers, chairman of Singapore-based Rogers Holdings, talk about the outlook for the U.S. dollar:
VIDEO LINK
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.
VIDEO LINK
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.
28 October, 2009
The U.S. Will be Forced To Print Money
"In my opinion, about 50% of tax revenues will be used just to cover the interest payments on the government debt. That is unsustainable. Then you'll really be forced to print money."
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.
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.
26 October, 2009
Latest Bloomberg Video Interview: The Dollar Will Go To Zero
"The US Dollar is weak, its a symptom of inflation"
"Holding money is as risky as holding stocks, commodities or real estate"
"The correlation between US dollar and stocks will continue"
"Stocks don`t have a big downside risk because of the Bernanke put"
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.
"Holding money is as risky as holding stocks, commodities or real estate"
"The correlation between US dollar and stocks will continue"
"Stocks don`t have a big downside risk because of the Bernanke put"
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.
The US Dollar Will Become Worthless
The dollar will become worthless when people eventually realize the fiscal situation in the U.S. is a "disaster,"said Marc Faber, publisher of the Gloom, Boom & Doom report.
"It will go to a value of zero eventually, but not right now," Faber said today in an interview on Bloomberg Television. "Looking at Mr. Obama's administration, it should already be there. I think it will take about 10 years until people realize that the fiscal situation of the U.S. is a complete disaster."
"In my opinion, about 50 percent of tax revenues will be used just to cover the interest payments on the government debt. That is unsustainable. Then you'll really be forced to print money."
The best investments right now are foreign currencies, commodities and equities, Faber said. Stocks will continue to benefit from the actions of Federal Reserve Chairman, "As soon as the S&P drops to 900 or 800, he will print money again. He's a money printer. He's nothing else."
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.
"It will go to a value of zero eventually, but not right now," Faber said today in an interview on Bloomberg Television. "Looking at Mr. Obama's administration, it should already be there. I think it will take about 10 years until people realize that the fiscal situation of the U.S. is a complete disaster."
"In my opinion, about 50 percent of tax revenues will be used just to cover the interest payments on the government debt. That is unsustainable. Then you'll really be forced to print money."
The best investments right now are foreign currencies, commodities and equities, Faber said. Stocks will continue to benefit from the actions of Federal Reserve Chairman, "As soon as the S&P drops to 900 or 800, he will print money again. He's a money printer. He's nothing else."
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.
25 October, 2009
"We Are Running Out Of Cheap Oil"
"We are running out of oil in the long run. Or certainly running out of cheap oil" in Bloomberg
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.
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.
Bloomberg Video Interview: October
Latest Marc Faber`s video interview on Bloomberg TV.
"Fundamentally there isn`t much to be happy about the US dollar" Marc Faber
"Nobody in the world got rich by devaluing money" Marc Faber
"The stock (General Motors GM) can go up 5 times before going to zero" Marc Faber
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.
24 October, 2009
Risks Of Holding Cash
'To hold cash today is as risky as holding equities, commodities or real estate because you risk losing out on asset price appreciation or losing your purchasing power through inflation.'
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.
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.
23 October, 2009
"In 5 Years 30-40% of US Tax Revenues Will Go To Servicing The Debt"
“This is not solving the problem - it is just treating the symptoms,” he said, speaking at the CFA Institute’s European Investment Conference in Frankfurt on Thursday.
Faber blames Greenspan’s decision to hold interest rates at artificially low levels for precipitating the housing bubble and sees Bernanke repeating the mistake in the current crisis. “The Fed seems to ignore the fact that one of the causes of this crisis was the amount of leverage in the system. This is a credit-addicted economy.”
He sees central bankers as having become hostage to inflated asset markets and questioned how sustainable the next boom would be given that it was simply storing up more debt. Total US debt to GDP is now at 375 percent, without including the contingent liabilities from Medicare and Medicaid. Faber sees this having serious implications for inflation.
“When the Fed should be increasing rates, interest payments on government debt will balloon. In five years’ time some 30-40 percent of US tax revenues will go on servicing that debt,” he said. “Where will they get that money? They will have to print it.”
But as Faber cheekily pointed out, if printing money and increasing debt made you rich, then Zimbabwe would be the richest country in the world.
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.
Faber blames Greenspan’s decision to hold interest rates at artificially low levels for precipitating the housing bubble and sees Bernanke repeating the mistake in the current crisis. “The Fed seems to ignore the fact that one of the causes of this crisis was the amount of leverage in the system. This is a credit-addicted economy.”
He sees central bankers as having become hostage to inflated asset markets and questioned how sustainable the next boom would be given that it was simply storing up more debt. Total US debt to GDP is now at 375 percent, without including the contingent liabilities from Medicare and Medicaid. Faber sees this having serious implications for inflation.
“When the Fed should be increasing rates, interest payments on government debt will balloon. In five years’ time some 30-40 percent of US tax revenues will go on servicing that debt,” he said. “Where will they get that money? They will have to print it.”
But as Faber cheekily pointed out, if printing money and increasing debt made you rich, then Zimbabwe would be the richest country in the world.
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.
21 October, 2009
World MoneyShow Presentation
Marc Faber will speak on the World MoneyShow London this saturday:
11:25-12:15: "Could expansionary monetary policies and large deficits lead to high inflation rates?" Keynote Address by Marc Faber, author of The Gloom Boom & Doom Report
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.
11:25-12:15: "Could expansionary monetary policies and large deficits lead to high inflation rates?" Keynote Address by Marc Faber, author of The Gloom Boom & Doom Report
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.
20 October, 2009
The Lifestyle In The West Won`t Improve Meaningfully
"If you look at the next 10 to 20 years in the West, I don't see how the lifestyle of the average person will improve meaningfully. On the other hand, if you look at a country like Vietnam, they have a GDP per capita annually of $800 which may go to $3,000 over the next 15-20 years.
The same is true for China and India. You suddenly have a middle class of 230 million people in India who will be buying cars like the $2,500 Nano and other goods.
Once a family moves from the bicycle to the motorcycle, it's an improvement in their standard of living. But when you move to the car and drive your children to school in your car, it's a huge increase in your standard of living and your social class.
The Chinese have very little crude oil, natural gas, iron ore and copper of their own. This should support commodity prices because they're not going to stop buying these commodities." in IStockAnalyst
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.
The same is true for China and India. You suddenly have a middle class of 230 million people in India who will be buying cars like the $2,500 Nano and other goods.
Once a family moves from the bicycle to the motorcycle, it's an improvement in their standard of living. But when you move to the car and drive your children to school in your car, it's a huge increase in your standard of living and your social class.
The Chinese have very little crude oil, natural gas, iron ore and copper of their own. This should support commodity prices because they're not going to stop buying these commodities." in IStockAnalyst
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.
19 October, 2009
Hyperinflation In The U.S.?
“I am 100 percent sure that the U.S. will go into hyperinflation. The problem with government debt growing so much is that when the time will come and the Fed should increase interest rates, they will be very reluctant to do so and so inflation will start to accelerate.” in The Sovereign Society
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.
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.
14 October, 2009
"Intel Will Rise More Then US Government Bonds"
"Intel Corp. (INTC) will rise more than U.S. government bonds during the next 10 years and investors should buy shares of the world’s biggest chipmaker. In a recession like we have, the strong companies gain market share at the expense of weaker companies because they still have money to invest and to carry out research and development. I still think that the stock is not terribly expensive here.”
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.
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.
11 October, 2009
The Economy And Money Printing
"The worst the economy is, the more money they will print."
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.
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.
09 October, 2009
"US Dollar Is No Longer Overvalued"
"We have now flats, condos in Hong Kong selling for 9,000 USD per square foot. In America, the price level compared to the price level in some of these asian cities is actually quite low. So I think the US Dollar is no longer overvalued for the time being and the sentiment about the US dollar is so negative that we can have a rebound in the dollar for a couple of months. That would indicate some tightning of global liquidity and would be bad for asset markets as was the case in 2008, when the US dollar rebounded and all asset markets went down"
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.
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.
Monetary Policy In The US Will Remain Expansionary
"As far as the eye can see the monetary policies in the US will remain expansionary"
in CNBC India
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.
in CNBC India
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.
06 October, 2009
Standard Of Living: West vs. East
"If you look at the next 10 to 20 years in the West, I don’t see how the lifestyle of the average person will improve meaningfully. On the other hand, if you look at a country like Vietnam, they have a GDP per capita annually of $800 which may go to $3,000 over the next 15-20 years.
The same is true for China and India. You suddenly have a middle class of 230 million people in India who will be buying cars like the $2,500 Nano and other goods.
Once a family moves from the bicycle to the motorcycle, it’s an improvement in their standard of living. But when you move to the car and drive your children to school in your car, it’s a huge increase in your standard of living and your social class."
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.
The same is true for China and India. You suddenly have a middle class of 230 million people in India who will be buying cars like the $2,500 Nano and other goods.
Once a family moves from the bicycle to the motorcycle, it’s an improvement in their standard of living. But when you move to the car and drive your children to school in your car, it’s a huge increase in your standard of living and your social class."
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.
05 October, 2009
Commodities Outlook
"Faber thinks zero rate levels makes it extremely difficult to value anything. Pose the question: which would you rather own – the “US dollar at zero interest rates or a ton of gold or a ton of copper or a ton of crude oil?” Of course, commodities are supply constrained, whereas dollars are not, so there is a justification for buying them. But, he anticipates the commodity hoarding by China is about to end and that is bearish for industrial commodities as well as precious metals. As with other commodities, he thinks the huge run up in oil could induce a setback. Long run, he is an oil bull because of limited supply."
in Seeking Alpha
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.
in Seeking Alpha
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.
04 October, 2009
Is The US Dollar Going To Rally?
Q: If there were to be a snap back, how powerful do you think it might be, are we talking about a big pullback for the dollar considering how much it sold off these past few months?
A: That I doubt because the Federal Reserve and the US government pursue policies that are not conducive to a strong US dollar. But as I said we are very oversold and could see some rebound, maybe around 10% or so. But I would not expect the US dollar to be structurally a strong currency in the next few years - quite on the contrary I think the US dollar will continue to lose its purchasing power.
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.
A: That I doubt because the Federal Reserve and the US government pursue policies that are not conducive to a strong US dollar. But as I said we are very oversold and could see some rebound, maybe around 10% or so. But I would not expect the US dollar to be structurally a strong currency in the next few years - quite on the contrary I think the US dollar will continue to lose its purchasing power.
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.
02 October, 2009
Short And Long Term Interest Rates In The US
Q. While the rally has been intact, there seems to be one concern which is that interest rates will soon start moving higher and that in turn will start sucking the liquidity out or the easy liquidity out. Is that a real fear for the market?
A: I don't think so. I think we have to distinguish between short-term interest rates and long-term interest rates. Long-term interest rates, the Federal Reserve does not really control them in the long run. Temporary they can somewhat control them through quantitative easing and through the purchases of 10 year bonds, 7 year bonds, 30 year bonds but what they control are the short-term interest rates in other words, the Fed fund rates. Reading through the literature and through the speeches that are being given by Mr Ben Bernanke, my impression is that the short-term interest rates will stay long for a very long time. In America the fiscal deficit this year will be around USD 2 trillion and I do not think they can cut the fiscal deficit next year because if they cut it, it will have a negative impact on the economy. So I rather think that the fiscal deficit will stay at this level or in my opinion actually even increase. That will lead the Fed to keep interest rates artificially low because should they increase short-term rates meaningfully then the cost of servicing the government debt in the US will escalate substantially. So I think as far as the eye can see, monetary policies in the US will stay expansionary.
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.
A: I don't think so. I think we have to distinguish between short-term interest rates and long-term interest rates. Long-term interest rates, the Federal Reserve does not really control them in the long run. Temporary they can somewhat control them through quantitative easing and through the purchases of 10 year bonds, 7 year bonds, 30 year bonds but what they control are the short-term interest rates in other words, the Fed fund rates. Reading through the literature and through the speeches that are being given by Mr Ben Bernanke, my impression is that the short-term interest rates will stay long for a very long time. In America the fiscal deficit this year will be around USD 2 trillion and I do not think they can cut the fiscal deficit next year because if they cut it, it will have a negative impact on the economy. So I rather think that the fiscal deficit will stay at this level or in my opinion actually even increase. That will lead the Fed to keep interest rates artificially low because should they increase short-term rates meaningfully then the cost of servicing the government debt in the US will escalate substantially. So I think as far as the eye can see, monetary policies in the US will stay expansionary.
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.
The Big Crisis Is Ahead Of Us
Now the same people who produced the crisis namely the policy makers in the US, are still in-charge and if you look at what has happened in the US over the last 6-9 months, nothing has been solved. It has been postponed through fiscal and monetary measures, precisely the measures that brought about the crisis in the first place.
So I think enjoy your ride in asset classes as long as it lasts but I think we are seeding the next crisis and it may happen in the next three months, maybe tomorrow, maybe five years, maybe only in 10 years but I think the big crisis is still ahead of us.
in CNBC India
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.
So I think enjoy your ride in asset classes as long as it lasts but I think we are seeding the next crisis and it may happen in the next three months, maybe tomorrow, maybe five years, maybe only in 10 years but I think the big crisis is still ahead of us.
in CNBC India
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.
01 October, 2009
The US Dollar Is No Longer Overvalued
Q. Will talk about sectors and markets in specific in a bit but what about the dollar? There has been almost a straight line correlation between the way emerging markets have moved and the way the dollar has been weakening. Do you sense that is going to snap back soon?
A: If I look around the world — and this is frequently missed in the inflation-deflation debate — the US current account deficit, growing from USD 150 billion to USD 800 billion between 1998 and 2007 flushed the world with liquidity and led to essential inflation in emerging economies, in particular asset inflation. We now have flats in Hong Kong, in other words condominiums selling for up to USD 9000 a square feet. In America, price levels compared to the price levels in some of the Asian cities is actually now quite low. So I think that the US dollar is no longer overvalued for the time being and the sentiment about the US dollar is so negative that we could have a rebound in the dollar for a couple of months and that would indicate some tightening of global liquidity and be bad for asset markets as was the case in 2008 when the US dollar rebounded, all asset market went down.
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.
A: If I look around the world — and this is frequently missed in the inflation-deflation debate — the US current account deficit, growing from USD 150 billion to USD 800 billion between 1998 and 2007 flushed the world with liquidity and led to essential inflation in emerging economies, in particular asset inflation. We now have flats in Hong Kong, in other words condominiums selling for up to USD 9000 a square feet. In America, price levels compared to the price levels in some of the Asian cities is actually now quite low. So I think that the US dollar is no longer overvalued for the time being and the sentiment about the US dollar is so negative that we could have a rebound in the dollar for a couple of months and that would indicate some tightening of global liquidity and be bad for asset markets as was the case in 2008 when the US dollar rebounded, all asset market went down.
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.
Do We Have A Bubble In Equity Markets?
Q: There have been stray concerns on where the market might be headed, and whether things are approaching a bubble like proportion, especially in the equity market. What do you feel?
A: Basically, we have had huge fiscal stimulus packages and we had quantitative easing in basically all countries around the world. So asset prices have recovered strongly after March 6 this year, with stocks rising, commodity prices rising and the dollar weakening again and each time the dollar weakens it is kind of a symptom of some inflation in the system and excess liquidity building up. What we have is large cash positions around the world and zero interest rates and also the policy by the Fed to keep rates very low level for a very long time as was the case of 2001. With this in mind, money goes out of cash balances into something, either consumption or into some kind of assets like equities or commodities or bonds or art or real estate.
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.
A: Basically, we have had huge fiscal stimulus packages and we had quantitative easing in basically all countries around the world. So asset prices have recovered strongly after March 6 this year, with stocks rising, commodity prices rising and the dollar weakening again and each time the dollar weakens it is kind of a symptom of some inflation in the system and excess liquidity building up. What we have is large cash positions around the world and zero interest rates and also the policy by the Fed to keep rates very low level for a very long time as was the case of 2001. With this in mind, money goes out of cash balances into something, either consumption or into some kind of assets like equities or commodities or bonds or art or real estate.
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.
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