Friday, August 21, 2015
Marc Faber: China Crisis Will Spill Over to U.S.
“We have a big selloff in emerging economies. In dollar terms many emerging markets have tumbled. The U.S. is essentially the last man standing, and I think it will spill over to the U.S…. GM-- about 34 percent of the sales are in China and close to 50 percent of the profits come from China… In July car sales were down 7 percent and more to come,” he said.
“We don’t know exactly why China began to weaken its currency. It could be because of massive capital outflows. It could also be a warning signal to the world that if the world, notably the U.S., doesn’t treat China fairly -- and they have some reasons to believe that certainly from their perspective, that they also can embark on economic and financial warfare,” he said.
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.