“People are said the markets went down because of Greece. I don’t believe that for a minute. I believe markets went down because it’s becoming evident that the Chinese economy is not growing anymore.”
Also from Marc on July 11th
The Federal Reserve may embark on more quantitative easing if the S&P 500 falls by 20 percent, according to Faber. In the link just above he also discusses China and Greece with Manus Cranny on Bloomberg Television’s “The Pulse.”
Dr. Marc Faber was born in Zurich, Switzerland and obtained a PhD in Economics at the University of Zurich. Between 1970 and 1978, Dr. Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In 1990, he set up his own business, Marc Faber Limited which acts as an investment advisor and fund manager. Dr. Faber publishes a widely read monthly investment newsletter, “The Gloom Boom & Doom Report,” which highlights unusual investment opportunities, and is the author of several books including Tomorrow’s Gold: Asia’s age of discoverywhich was a best seller on Amazon. Dr. Faber is known for his “contrarian” investment approach and charismatic personality. He became infamous after calling the 1987 crash in US equities.