Thursday, October 02, 2008

Marc Faber speaks with Bloomberg

Marc Faber joined Bloomberg TV yesterday to talk about the markets, the economy, and the bailout bill currently making its way through Congress.

Faber makes some very salient points about the half-baked nature of the $700 billion bailout bill; the proposed "rescue plan" for banks seems to supplant the workings of the free market in favor of some incomplete and inequitable form of socialism.

Also, Marc sees the potential for a near-term bottom in these oversold markets and a subsequent rally in US shares over the next few months. He cautions that this would be a bear market rally and not the start of a new bull market.

While his investment stance is largely cautious for now, he notes that emerging market shares are starting to look attractive.

Lots more to hear in the clip above, and in our related posts below.

Related posts and articles:

1. "Jim Rogers to Bloomberg: 'let banks fail'" - Finance Trends Matter.

2. "Jim Rogers and Marc Faber on the Paulson Plan" - BMB.

3. "Faber: Fed acted like a liquidity drug dealer" - CNBC.

4. "Faber: Bernanke should resign, bring back Volcker" - CNBC.