Tuesday, May 25, 2010

Marc Faber Discusses Outlook for U.S. Stock Market- Bloomberg May 25 2010

May 25 (Bloomberg) -- Marc Faber, publisher of the Gloom, Boom & Doom report, talks with Bloomberg Television about the outlook for U.S. stocks. (This report is an excerpt of the full interview. Source: Bloomberg)

Marc Faber on Bloomberg: S&P 500 Could Fall Another 15% 5/24/10

Marc Faber, publisher of the Gloom, Boom & Doom reports, talks with Bloomberg's Tom Keene and Ken Prewitt about the outlook for U.S. stocks.

Faber says global stocks are in a "correction period" and believes the Standard & Poor's 500 Index could decline another 10-15 percent. He also discusses the violence in Thailand.


Marc Faber who lives 700 kilometers from Bangkok : ...basically the country is very peaceful the population is not aggressive they're very tolerant they are a very permissive society , and I think for most Thais including myself to see burning buildings in BANGKOK was really a shock , that's nobody could have anticipated , if a year ago someone would told me that buildings will be burning in BANGKOK I never have believed it , so I think they're some reasons why it happened it is a complex story basically a populist leader that had the support of the ruler who is Mister Thaksin came to power and was then ousted by a military coup in 2006 and then a new government was installed which was more the bankers aristocracy and Thaksin then was condemned for corruption and had also to pay a fine and is in exile and he was again .., he managed again to rally the tour behind him to start the demonstrations , where it has to be said it is not proven that he paid the demonstrators but it is very likely that he paid the demonstrators who have been paid about twice what they would be earning in their salaries if they were working in factories and so on and so forth...and then the trouble went out of hand whether that was again directed by mister Thaksin or he lost control of the movement , that what happened and the violence erupted ...
basically calm has returned because you have to say one thing as in most people in Thailand do realize that Thaksin's aim and red shirts aim is actually not to boost the standards of living of the poor but just to use them as kind of human shield and an excuse and to buy their vote it is not about their group of leaders taking money and then redistributing money to the poor it is about their group of leaders getting hold of the money pot that's now is in the hands of the bank of elite and then carrying out the regime amidst the same or even worse corruption ...etc...

Marc Faber explains The Thailand Crisis - Bloomberg 24 May 2010

S&P 500 Index May Tumble as Much as 15%, Faber Says













Marc Faber who lives 700 kilometers from Bangkok : ...basically the country is very peaceful the population is not aggressive they're very tolerant they are a very permissive society , and I think for most Thais including myself to see burning buildings in BANGKOK was really a shock , that's nobody could have anticipated , if a year ago someone would told me that buildings will be burning in BANGKOK I never have believed it , so I think they're some reasons why it happened it is a complex story basically a populist leader that had the support of the ruler who is Mister Thaksin came to power and was then ousted by a military coup in 2006 and then a new government was installed which was more the bankers aristocracy and Thaksin then was condemned for corruption and had also to pay a fine and is in exile and he was again .., he managed again to rally the tour behind him to start the demonstrations , where it has to be said it is not proven that he paid the demonstrators but it is very likely that he paid the demonstrators who have been paid about twice what they would be earning in their salaries if they were working in factories and so on and so forth...and then the trouble went out of hand whether that was again directed by mister Thaksin or he lost control of the movement , that what happened and the violence erupted ...
basically calm has returned because you have to say one thing as in most people in Thailand do realize that Thaksin's aim and red shirts aim is actually not to boost the standards of living of the poor but just to use them as kind of human shield and an excuse and to buy their vote it is not about their group of leaders taking money and then redistributing money to the poor it is about their group of leaders getting hold of the money pot that's now is in the hands of the bank of elite and then carrying out the regime amidst the same or even worse corruption ...etc...
“The market became very overbought in mid-April,” Faber said in a Bloomberg Radio interview today with Tom Keene. “The S&P could still decline by another 10 percent, maybe 15 percent.”
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Dr. Marc Faber author of the Gloom, Boom and Doom report is a world class Investor, Doctor Faber 's typically controversial and contrarian views have earned him the label of Dr. Doom. Doctor Doom also trades currencies and commodity futures like Gold Natural Gas and Crude Oil.Even his harshest critics must admit that he's been unerringly correct in his market forecasts over the past three decades . Marc Faber is a Swiss investor.He was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager. Faber is publisher of the Gloom Boom & Doom Report newsletter and is the director of Marc Faber Ltd which acts as an investment advisor and fund manager.