Skip to main content

Marc Faber on Bloomberg TV

Marc Faber joined Bloomberg TV yesterday for an extended guest interview segment.

While the emphasis of Bloomberg's story was on Marc's view of the stock market, there were far weightier issues discussed in this interview.

Within the first several minutes of this clip, you'll hear Faber's views on government stimulus and interventions, the needed workings of the market, the reality of a current US recession, and the very economic survival of this country and other sovereign nations.

Here are some quotes pulled from Bloomberg's print article:

"``The governments in this world have no other option but to print money. That will lead down the road to inflation,'' Faber said. ``You don't need to be an economist graduated from Harvard to know we're already in a recession. They will just put white paint on a crumbling building...''

...The U.S. economy slipped into recession a year ago, Faber said, and it won't recover until consumers and the government reduce spending and borrowing. Economists project U.S. gross domestic product fell 0.1 percent in the third quarter, according to data compiled by Bloomberg.

``To rebuild economic health in the United States, you need a serious recession that will last several years,'' he said. ``The patient that got drunk on credit growth needs to go into rehabilitation. To give him more alcohol, the way the Fed and the Treasury propose to do, is the wrong medicine.'' "

Serious stuff. And in my view, very right on.

As we've said here before, the problems we are currently facing are rooted in the excesses arising from artificially cheap money and credit.

It's extremely unfortunate that we have allowed the government and the Fed to appoint themselves problem-solvers for an enormous set of problems they helped create.

Related articles and posts:

1. "US faces recession, Bernanke's stimulus" - Finance Trends Matter.

2. "Jim Rogers speaks with Bloomberg TV" - Finance Trends Matter.

3. "Marc Faber speaks with Bloomberg" - Finance Trends Matter.

4. "Understanding the Crisis" - Mises.org.

Popular posts from this blog

New! Finance Trends now at FinanceTrendsLetter.com

Update for our readers: Finance Trends has a new URL!  Please bookmark our new web address at Financetrendsletter.com Readers sticking with RSS updates should point your feed readers to our new Finance Trends feedburner .   Thank you to all of our loyal readers who have been with us since the early days. Exciting stuff to come in the weeks ahead! As a quick reminder, you can subscribe to our free email list to receive the Finance Trends Newsletter . You'll receive email updates about once every 4-8 weeks (about 2-3 times per quarter).  Stay up to date with our real-time insights and updates on Twitter .

Moneyball: How the Red Sox Win Championships

Welcome, readers . T o get the first look at brand new posts (like the following piece) and to receive our exclusive email list updates, please subscribe to the Finance Trends Newsletter .   The Boston Red Sox won their fourth World Series title of t he 21st century this we ek. Having won their first Se ries in 86 years back in 200 4, the last decade-plus has marked a very strong return to form for one of baseball's oldest big league clubs. So how did they do it? Quick background: in late 2002, team own er and hedge fund manager, John W. Henry (with his partners ) bought the Boston Red Sox and its historic Fenway Park for a reported sum of $ 695 million. Henry and Co. quickly set out to find their ideal General Manager (GM) to help turn around their newly acquired, ailing ship. This brings us to one of my fav orite scenes from the 2011 film , Moneyball , in which John W. Henry (played by Ar liss Howard) attempts to woo Oakland A's GM Billy Beane (Brad Pi

William O'Neil Interview: How to Buy Winning Stocks

Investor's B usiness Daily founder and veteran stock trader, William O'Neil share d his trading methods and insights on buying winning stocks in an in-depth IBD radio interview. Here are some highlights from William O'Neil's interview with IBD: William O'Neil's interest in the stock market began when he started working as a young adult.  "I say many times that I didn't get that much out of college. I didn't have much interest in the stock market until I graduated from college. When I got married, I had to look out into the future and get more serious. The investment world had some appeal and that's when I started studying it. I became a stock broker after I got out of the Air Force."    He moved to Los Angeles and started work in a stock broker's office with twenty other guys. When their phone leads from ads didn't pan out, O'Neil would take the leads and drive down to visit the prospective customers in person.