Tuesday, July 26, 2016
Marc Faber : When Rates are low People Save More & Do Not Spend
Marc Faber in Chicago Tribune :
"Young adults will earn less than their parents and die with less than their parents," Faber said, noting parents — when young — bought U.S. Treasury bonds paying 7 percent rather than bonds paying nothing today. They bought homes that appreciated greatly. Now, "young people don't have money to buy condos and houses," so they overpay on rent and are left without money to invest or spend. He blames central banks. "It's ludicrous to think that slashing rates will get people to spend." When rates are low, he says, you feel insecure as savings earn nothing. So, "you save more."
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.