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Marc Faber on Bloomberg

Marc Faber speaks of weakness in the technology sector, a spreading global recession, and issues surrounding Fannie Mae and Freddie Mac in this latest Bloomberg TV interview.

Reiterating certain points made in an earlier interview with CNBC, Marc notes that while Fed governors may not recognize (or face up to) signs of recession, the average person on the street feels the impact of rising prices and weakening business conditions. This slowdown will be felt particularly in technology and industrial commodities.

He also feels that Fannie and Freddie should be split up into separate private enterprises, rather than be bailed out. Echoing points made by Jim Rogers in his recent Bloomberg appearance, Marc notes that a bailout of Fannie and Freddie would amount to a rescue of "people who have made bad investments" at the expense of taxpayers and common citizens.

One last point on the stock market and the overall economic picture. While Marc allows that the possibility for oversold bear market rallies exists, he feels the big bull market for financial (paper) assets is over, and has been for some time. Inflation will be the looming problem in our economic future, despite Ben Bernanke's academic focus on deflation, and interest rates will go higher over time as a result of market forces.

Lots more to see and hear in this interview clip. Enjoy the rest!

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