Thursday, October 31, 2013

Marc Faber : I doubt Keynes would approve of current policies. Neither would Milton Friedman

 Marc Faber : They are applying neo-Keynesian theories that call for the government to step in after a recession to boost demand. This might be right in some instances, but I doubt Keynes [British economist John Maynard Keynes] would approve of current policies. Neither would the late economist Milton Friedman, even though Bernanke invoked him to justify his actions. The neo-Keynesians would argue that if the Fed hadn't flooded the system with money, things would have been much worse. That might be true, but they would have been worse for a shorter period of time. - in a recent Barron's Interview

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

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