Monday, August 26, 2013
Marc Faber : Government Brain-Damaged
Rupee not undervalued, government 'brain-damaged' said Marc Faber : "If someone says that rupee is undervalued we have to put in the proper perspective, maybe in some sectors of the economy the rupee is undervalued but I don't think the rupee is undervalued if you look at the prices of high-end luxury Mumbai properties,"
"...in India they (interest rates) would have to go up rather substantially so that real short-term interest rates would be positive. To do that it's very painful on the economy in the near-term for the next say one year," he said.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
Posted by Lisa Chapman