Marc Faber - Looming Global Catastrophe?

Marc Faber - Looming Global Catastrophe? Marc Faber discusses the situation Greeks find themselves in. They do not want to see their new currency, the Drachma be worth 70% less than the euro, but also refuse to accept the austerity measures.

Greece should exit the EURO.With Faber saying their currency would be worth so much less ,70% than the EURO ,it means their tourism can do very well. Eventually they will be in an opportune position for exports,just as soon as they get things settled. Austerity measures will not need to be as severe , because the debt will be limited, to their own people. It all sounds so good for Greece ,it makes me wonder why others won't do it? They will! ,and as they do it ,Germany ,ie; who holds a lot of the debt will absorb so much in losses ,that they could be seen as similar to the Chinese or Japanese with U.S. debt.,with a difference in that the U.S. can always pay by printing and even though those dollars are worth a lot less than when purchased ,they can certainly buy a lot within the shores of the U.S. What I don't get ,is Why does Greece (by defaulting ),get off the hook.This is the problem with currencies with no collateral. Too much liquidity ,given to countries that have nothing other than their own land to give up ,which I'm sure is not part of any deal. The Greeks should have to pay their creditors in Drachma's (atleast partial) ,and that currency could be used by foreign creditors ,like Germany for buying up land -housing,thus helping a Greek industry get competitive.,although Greek ownership would be much less. If they are allowed to just default and walk away ,What's to stop every other country in trouble from doing the same. Then what?
Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Physical Gold vs. Gold Miners

Marc Faber : I have been arguing that you are better off in physical gold than in gold miner stocks, for a variety of reasons. And when looking at gold stocks, we need to distinguish between exploration companies and producing companies. The problem with the exploration companies is that a lot of them will have financing difficulties and they will have to cut down on exploration. They may not get financing at all. If you have 100 exploration companies, 80 to 90 of them could easily be out of business. - in Bullion Vault
Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Marc Faber : My Advice To Young People

Marc Faber : My advice to young people is that the degree is not important. If you have parents that can pay for your degree, then I would take one. If I had to borrow a lot of money, I’m not sure I would take one. I would try to work for someone who is successful and acquire knowledge from them. Whatever you do, you should do with a lot of passion and heart and like what you do. If you like what you do, you will do a better job than if you are indifferent to what you do at your job. I think there are plenty of opportunities in every field. 

Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

The Markets For The Next 1-2 Months Will Be Going Lower

Marc Faber : If you would build an advance/decline line of all stock markets in the world, it would be in a downtrend. And I think that the markets for the next one-two months will be going lower. - in Economic Times
Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

India: Fiscal Deficit And Government Debt

Marc Faber : The situation in India is a situation where the fiscal deficit is essentially very high and obviously the government debt is increasing. The rating agencies do their ratings. I don’t pay much attention to that. But obviously although they have a time lag, they probably are in the right direction in terms of downgrading India. - in Economic Times
Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Private Sector vs Government

Whatever the government does, it does it much worse than the private sector. Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Phoenix Housing Market

Marc Faber : I was in Phoenix the other day. Then, the taxi driver took me to the hotel, nice hotel, in Fairmont. And then he told me, "the person that I just drove before you—I drove him to a five-bedroom house". He told me, "he just bought it for $120,000". Where in the world can you buy a five-bedroom house for $120,000? I would buy it, live in one bedroom and rent out four bedrooms to concubines. - in Bloomberg  


Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.