Dr. Doom Marc Faber: It's Only A Matter Of Time Until The U.S. Debt Bomb Explodes
- He sees a correction in the near-term, but a possible rally in the second half of the year. Though he doesn't see the rally hitting new highs.
- As far as bubbles, he's particularly concerned about US debt, and says in 5-10 years the interest rates will become a major problem.
- And in terms of currency, he thinks it's silly to think that a weak US dollar will save our export sector. If that's all it took, he argues, Zimbabwe and Latin America in the 80s would have been export and manufacturing powerhouses.
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source: Clusterstock
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Featured comments:
I love the way the American media insists on casting economic forecasters like Faber, Schiff, Taleb and Roubini all as "Drs Doom" simply because the have the foresight & clarity to accurately predict what's coming down the pipeline ..along with the cojones to bravely call things by their REAL name.
Just imagine when this stupid tendency to gang-up on negative-news-purveyors goes mainstream ! Air traffic controllers will be called "pessimists" for asking pilots to "change course NOW in order to avoid a head-on collision!". Dentists will be labeled "Black Swans" for telling us that that rotten tooth has GOT to go or otherwise we risk a massive infection. Plumbers will be branded as "Naysayers" for telling us that the backed-up toilet needs to get unclogged or we risk an explosion of excrement all over the bathroom floor.
Recoveryless
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Who cares what the press says about the guy? He can aptly describe the most efficient way to get drunk in Thailand! That is someone I trust!
Oberron 4 Life
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Jan 13, 2010 at 12:35 PM
Reader Comments (8)
Just imagine when this stupid tendency to gang-up on negative-news-purveyors goes mainstream ! Air traffic controllers will be called "pessimists" for asking pilots to "change course NOW in order to avoid a head-on collision!". Dentists will be labeled "Black Swans" for telling us that that rotten tooth has GOT to go or otherwise we risk a massive infection. Plumbers will be branded as "Naysayers" for telling us that the backed-up toilet needs to get unclogged or we risk an explosion of excrement all over the bathroom floor.
for the record, i used Dr. Doom in the title for search results...