Wednesday, February 3, 2016
Low Interest Rates are more Negative than Positive for The Economy
"In my view, his (the BoJ's Governor Haruhiko Kuroda's) ammunition is not working. It worked in the sense that the stock market went up in the last 12-18 months but the yen has been going down," he said, adding that most Japanese citizens were bearing the brunt of government economic policy.
"If you're Japanese, eighteen months ago you had a certain net worth and now your currency is down 30 percent so are you richer or poorer? Of course you're poorer. These low interest rate in Japan, in my view, and especially now these negative interest rates, are rather more negative than positive for the economy and for the typical Japanese household," 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.