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
Click here to watch the full interview>>>


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