Today's winner of the prestigious CLOD is Dr. Marc Faber:
“The Chinese government is one of the few governments in the world that knows its GDP numbers three years in advance. I’d be a bit careful about China.”...Here's some weekend video of Dr. Faber via the Socio-Economics History blog:
-CNBC Interview via Futronomics
Marc Faber: Recent Rally is the Result of Excess Liquidity. The Worst is Still to Come!
There is a bubble that the FED and the government are creating right now and this is a bubble in government debt, in the size of it. They are being very successful at that.Some other posts at the Socio-Economics history blog:
Eventually the US Government will go bankrupt the way California is almost bankrupt, but that will take some time. The next bubble in my opinion can be a bubble again in equities.” Marc Faber told Bloomberg TV early this week.
Marc Faber was also a speaker at The Agora Financial Investment Symposium in Vancouver and had an hour long interview with CNBC Asia here are some of the quotes from Marc Faber :
“The world has not seen the end of the financial crisis and the recent surge in markets was a result of excess liquidity coming from central banks”, Marc Faber told CNBC in an interview.
“If you pump money into the system and you create large fiscal deficits, you create volatility,” Faber, author of the Gloom, Boom and Doom Report, told CNBC in remarks reported on its website.
“We’ve seen an intermediate low in March, we’ll rally for a year or so or maybe 18 months — the ultimate crisis will happen much later, and the ultimate crisis would clean the system,” he added.