Sunday, March 24, 2013

Marc Faber: The European Banks are a Global Risk

ET Now: So what is the bigger risk to the risk-on rally? Will it be China or credit bubble in Japan or a real estate bubble in Asian markets?

Marc Faber: The risk for me globally is really European banks and financial institutions and a market that is already quite high. We are not at the 2009 lows. Many markets have gone up 100 per cent. Thailand is up almost 4 times from the 2009 lows. So we have very extended markets. Many countries in Asia have an asset bubble in real estate and we have the Chinese economy which, I believe, is growing at present at a much slower rate than what the official statistics would suggest. - in a recent interview with ETNOW


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