Friday, September 9, 2011

Marc Faber : Ignore The Government Garbage

Marc Faber : look I have a TV in my office , if I switch it on once a month to look at the news that's about it I am not interested in the Garbage these government officials broadcast either they are lies or they are distrustful , You can't trust them anymore because they produce statistics that are completely unrealistic.
"Basically if you believe in a market economy and capitalistic system you don't believe in government intervention," Faber says. "If you want to have a properly functioning economy it has to be a market economy with all its drawbacks and disadvantages and the pain for individuals. That is the only way [the economy] will function."

Obama speech & Jobs Plan irrelevant

Dr Marc Faber reacts to Obama's speech about his $447 Jobs plan : I think the speech is quite irrelevant , it is more of the same again , government interventions and obviously it is a sign that budget deficit in the US will not diminish meaningfully that the government debt will continue to rise ...I do not think there will be a strong reaction - Marc Faber told The Indian CNBC TV18 .

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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.