Friday, September 18, 2015

Marc Faber: We Have Reached Some Kind of Tipping Point






The markets have moved sideward for essentially the last 12 months and this year, when the crash really happened, we were 2% lower on the S&P year-to-date…we were down 13% for the transportation index, so the internal of the market has been weak,” Faber told FOX Business yesterday.


“An economy like China is not like a car where you just drive around the corner,” he said. “The Chinese economy cannot be stimulated meaningfully for the time being—it will take time."

“You look at announcements of Hewlett-Packard, United Technologies, car manufacturers… they have a large exposure to China, and when the Chinese economy slows down, what really drove the growth, namely capital spending in China, and consumption in China slows down, so in July, car sales in China were down 7% year-over-year,” 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.

No comments:

Post a Comment

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.