Thursday, June 7, 2012

Marc Faber : The Chinese Economy is hardly growing

Marc Faber :   .......Well I think that if you look at electricity production, cement production , steel production, it's essentially flat to down vis a vis a year ago  and these are very important indicators the housing market and construction has slowed down,  so i think these are very meaningful signs indicators that the economy is hardly growing at the present time. and then you look at the demand for iron and for copper coming from china, it essentially all flat to down, otherwise prices wouldn't be so weak. so i think that i would rather rely on those statistics. but I'd just like to mention one point and i think you should ask Jeremy Siegel about this, you know, everything looks bad at the present time and people are relatively bearish. at the same time you have the ten years note at less than 1.5% and you have say a stock like Johnson & Johnson yielding almost 4%. I'm not saying that Johnson & Johnson won't go down along with the rest of the market, I'm just saying if you have a time horizon of ten years, i believe you're going to make more money in Johnson & Johnson than in u.s. government bonds - in Squawk Box CNBC
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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.