Wednesday, February 10, 2016
Marc Faber : The Government is a Cancer
ET Now: So how should investors approach the current market scenario and can India stand out in this stormy environment?
Marc Faber : I think that investors by and large have to shift their strategy and they need to focus on the question: how do I lose the least money? Number two, I think the governments have to focus on the question -- have we intervened too much? Are we becoming socialistic or a centrally planned economy? I can tell you, I have been visiting centrally planned economies from Czechoslovakia in 1968 to Russia in 1980, China in 1978, Vietnam in 1989. The centrally planned economy is a complete disaster and we have to go back to the individual, taking personal responsibility and when something goes wrong, people should not say the government should do this, the government should do that. You must remember, the government cannot help you. The government is a cancer and it can only temporary boost economic activity by throwing money at the system or by launching a huge spending packages but in the long term, government's expansion efforts have a negative impact on the free market.
Read more at:http://economictimes.indiatimes.com/articleshow/50926523.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
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