Friday, January 27, 2012

Marc Faber not very bullish & not very bearish about the Markets

Marc Faber : well my sense (about the market ) is I wished I could be very bullish and I wished I could be very bearish , but I can't be very bullish because nothing has changed we have incredible corruption in the system we have essentially the Wall Street dominance of lots of sectors of the economy and banking dominance where the banks go to government officials and say Oh if we are not bailed out the whole world will collapse then the politicians who are clueless they believe that when actually the easier solution would be to to reimburse local depositors and let the rest go bust , the world would not suffer if the derivative market would shrink by 90 percent believe me , the worker in an automobile plant he would not feel it but of course the bankers will feel it , the financial sector would feel it they will have to lay off a very large number of people so basically that is my concern - in This Week in Money


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