"The economy, looking forward, is going to be flat at best," he said in an exclusive interview with The Nation in Bangkok.
"We have to distinguish between the economy and the political situation. Although the political situation is not very good, we have a government [that] is dysfunctional and consistently intervenes in the free markets, especially the rice scheme, which is particularly unsuccessful. I suppose the government [that] Thaksin Shinawatra sits behind in exile would be re-elected. But [whether] that would be desirable or not is questionable. "In the case of Thailand, having no government might be better," said the publisher of the "Gloom Boom & Doom Report" newsletter during an interview on the "Business Talk" programme broadcast on Krungthep Turakit TV last Friday."Some people said this government is very corrupt. The problem is, if the Democrats come to power, they [are] also corrupt.
"I like Abhisit [Vejjajiva, leader of the Democrat Party]. I think he is very nice. I'm sure he is honest. The problem is people around and below him.""The Thai stock market bottomed out on November 28, 2008, or more than five years ago when the SET [Index] was at 380. It peaked on May 21, 2013, at 1,649. Then it dropped to 1,205 on January 6 and now it is about 1,300. We're now about 20 per cent [down] from the peak and four times the low," he said. - via Nation Multimedia
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.