I caught this video of Boom, Doom and Gloom report author Marc Faber. He is in shall we say rare form.
Faber first asked the Bloomberg reporters if they wanted him to be honest. Yes, of course they did.
He didn’t hold back. Some of the more interesting bits:
On the job President Obama has done……”horrible and he thinks it will continue to be horrible”
But didn’t the President start at a very difficult time………after catching his breath from laughing “he has changed nothing and made things worse…..we foreigners just laugh at someone like Obama”
Has Obama done a better job than President Bush…..”At least Bush didn’t prostitute himself, he had one line and stuck to it”
How about Bernanke……”Maybe he will quit after he sees the disaster he has created or perhaps he will be disposed”
On whether he will be going to the Davos meeting….”Davos is not for thinkers, it is for liars and people who follow the system perpetuating fraud, abuse and dubious practices in the financial system”
As for investing he thinks:
China stock market is sending a message and that there is trouble in their economy
Emerging markets are in store for a 20% to 30% correction
For the 3 months US Treasuries, the US dollar and US equities are the places to hide
Long term US Treasuries are suicidal
Enjoy the video for entertainment if nothing else