Saturday, February 14, 2015
Marc Faber New Warning : US Shares to Correct 50%
Marc Faber: US shares to correct 50%; China is growing only at a maximum of 4%
With only two weeks left until Greece’s current bailout program expires, Eurozone finance ministers will take another stab at hammering out a deal between Greece and its creditors Monday. The talks on Monday are key because they’re the last chance for the new Greek government to ask for a technical extension of its current bailout program, which runs out on February 28th. Erin weighs in. Then, Erin is joined by Marc Faber – editor and publisher of the Gloom, Boom & Doom Report and director of Marc Faber Ltd. Marc gives us his macro view on China and the industrial commodities space. In China, Marc believes the real GDP growth rate has slowed to 4%. On the commodities side of things, he believes that the high cost of production will eventually lead to a price resurgence. But he says there will be pain in the short run. Faber also opines on the expensive US market, IPO foibles and the increase in bonds carrying a negative yield. His biggest warning is a 50% correction in shares. After the break, Boom Bust Producer Bianca Facchinei sits down with DC Council Chairman Phil Mendelson to discuss how a government spending bill has halted Initiative 71 – a ballot initiative on legalizing marijuana in the District of Columbia – from proceeding, even though voters already approved of it. And in Defining Moments, our guests give us their takes on oil, Greece, and quantitative easing. Guests include Steve Keen, Richard Werner, Frances Coppola, Reggie Middleton, John Brynjolfsson and Jim Pearce. Take a look!
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.
Dr. Marc Faber Tomorrow's Gold
Dr. Marc Faber author of the Gloom, Boom and Doom report is a world class Investor, Doctor Faber 's typically controversial and contrarian views have earned him the label of Dr. Doom. Doctor Doom also trades currencies and commodity futures like Gold Natural Gas and Crude Oil.Even his harshest critics must admit that he's been unerringly correct in his market forecasts over the past three decades . Marc Faber is a Swiss investor.He was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager. Faber is publisher of the Gloom Boom & Doom Report newsletter and is the director of Marc Faber Ltd which acts as an investment advisor and fund manager.