Sunday, September 5, 2010
Marc Faber : It is a fallacy to believe that easy money and the purchase of treasuries will boost economic activity in the US
"Over the last two years we eased massively in the US and where did the growth take place? In Asia". "So when we talk about job creation, do you think that Intel or a small businessman will hire more people in the US because of further monetary printing?" "No! they will build factories in Asia and hire people in Asia and all the monetary policies in the US create mis-allocation of capital and unintended consequences," Faber added
"In my view over the next 10 years, Treasuries will be a disaster for investors,"
Dr. Marc Faber Tomorrow's Gold
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.