Friday, October 11, 2013

Miracles can happen in financial markets

Faber negative on much of the future

"Well I think we have unprecedented government interventions with fiscal and monetary policies. For me it’s not really a question, it won’t work but miracles do happen, and maybe based on the bailouts and huge monetary inflation that the central bankers have created, maybe it is possible that the financial system heals and that the global economy resumes a, say, trend line growth such that we had in the 90’s and the early parts in 2000 and 2005. But I very much doubt that."

Marc Faber is an world famous contrarian investor known for his accurate predictions of the stock markets around the world.