Tuesday, October 13, 2015
Raising Interest Rates very difficult at the present time
Dr. Marc Faber told recently Bloomberg Television
"The market may not crash right away, but it's possible that it will," .
"It will enter a longer-term time-frame of unattractiveness and where prices may actually go lower, and significantly lower. We could have a decline like 1973-74, which was a slice of hope where the market cap going up, and then went down again,” he added.
"The problem is that they (the Fed) should have raised the rates, in my view, in 2011," he explained. "Now the problem is this that the global economy is slowing down remarkably, especially coming as the result of the slowdown in China. Then we have weakness in the euro and the Japanese yen, which reduces global GDP in U.S. dollar terms. And that lowers demand for goods from around the world," he said.
"In other words, world trade is going down and the U.S. Is obviously affected. In this situation, it would be very difficult to raise interest rates at the present time."
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.