Wednesday, November 4, 2015
Dr Doom Calls Bubble, adding to Gloomy Calls
The Federal Reserve has inflated an asset bubble and that`s going to damp market returns, perma-bear Marc Faber, publisher of The Gloom, Boom and Doom Report, told CNBC Tuesday. "Say you`re a young person and you`re just starting to work. So take me in the 1970s. In the US, with 20 hours of work, I could buy the SandP 500. Now you need more than 90 hours of work to buy the SandP 500 if you`re young, with a medium income," Faber told CNBC in an interview. "The Fed has basically created with their colleagues in Japan and at the European Central Bank (ECB) and the Bank of England (BOE), they`ve created a colossal asset bubble. And the returns going forward will be disappointing."
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.
Posted by Nicole Bourbaki