This page has been archived and commenting is disabled.
Marc Faber Dials In From Thailand, Sees Another Recession
When last we checked in on Marc Faber, the Gloom, Boom, and Doom seer was predicting that the market had reached a “tipping point”, as thanks to QE and incessant central bank interventions, there are no safe assets left.
“It's ludicrous to believe that you will create prosperity in a system by printing money,” he said. “That is economic sophism at its best.” Or at its worst.
Shortly thereafter, Faber told Bloomberg that China's economy has most assuredly "landed hard."
"I think it's very difficult if you had the kind of bubble like you had in China, and the credit bubble, to then engineer a soft landing," he continued, before warning that "you could maybe cushion the downturn somewhat, but the fact is I the economy isn't growing at all."
On Tuesday, Faber was back on Bloomberg TV to discuss the outlook for 2016. The US economy, he says, is headed into recession and rather than be bullish on US equities (as every strategist polled by Barrons apparently is), Faber is long USTs. Asked whether it's a good idea to be bearish when stocks generally rise over time, Faber responded: "I think the right way to think about any investment is to be realistic."
Here's the video followed by some notable excerpts.
On US stocks:
“I just read the other day a Barron’s cover and not one strategist was negative about the US stock market in 2016. I think the US stock market will go down in 2016.”
On the 10-year:
“I think 10-year USTs are quite attractive because of my outlook for the weakening economy. Actually I believe we’re already entering a recession in the US.”
On EM:
“Emerging markets have underperformed grossly since 2011. I believe it may slightly premature to go into EM, but they’re moving into a buying range.”
On the inevtiable path back to QE:
Well, I don't think that the U.S. will continue to increase interest rates. In fact, given the weakness in the global economy and the deceleration of growth in the U.S., I would imagine that by next year the Fed will cut rates once again and launch QE4.
And finally, on periphery countryside retreats and Vietnamese equities:
“I like real estate in the countryside in Portugal, Spain, Italy. I think the Vietnam stock market looks attractive as the Vietnam economy continues to perform exceedingly well.”
* * *
For those who missed it, here's the Barron's piece Faber references:
»
- 96 reads
- Printer-friendly version
- Send to friend
- advertisements -
I no longer care what Faber says.
Agreed.
"Off the" Mark Farber says we are in in a recession???
Mark, question... when were we not in a deep recession since the year 2008?
Shit, I no longer care what anyone says.
Problem with 10-year treasuries is when inflation finally hits, and the rates soar to 12% or higher, they will plunge dramatically. There's little advantage for the small or medium sized investor to go for 2.9% ...better to keep casn or use the money to improve their skills.
Peak, Doom, Gloom and Boom.
Margaritaville: let's get drunk and...
He has called 5 of the past 6 years' 0 recessions. With a record like that he is in Cramer's league.
Whaaaat? You don't trust one of the guys who struck it big pre-2008 and then high-tailed it to one of the SE Asian countries that has a highly compliant peasantry and unlimited privlidges for the rich? SaY it ain't so! Remember, this is the country where a high-up official could kill his secretary with a full-auto burst from a SMG in a crowded restauraunt and no one even looked at him crossways.
I don't care what you have to say. But I'll give you more than what you gave us.
I don't care because you didn't say ANYTHING of VALUE. Absolutely no reason or justification whatsoever.
Its one of those, just because reasons. Why did you even open your fucking mouth?
what does he mean "another" recession? ....when did the last one end???
Marc Faber has been wrong since the dawn of time....marc faber recession
Hope he stops chiming!
And hope that those beautiful bimbos on BB or CNBS stop talking to him and let him enjoy the peace of Thailand and ride into the sunset.....
its impossible to have "landed hard" when you are still flying sky-high from all the drugs (debt, QE, etc.) your taking.
thats why these things don't "land" rather they crash into a mountain & fall out of the sky in flames because the guys flying the plane aren't looking out the front window or even considered with slowing down the engine for that matter. give it more nitrous & enjoy the ride is the way they roll.
unfortunately for "them" the mountain comes once every 8 years (since we've been off the gold standard); without discipline (such as the gold standard), these guys running global central banks make my fraternity brothers from college seem like choir boys when it comes to downing the booze & drugs.
Surprised he had time for an interview, thai hookers keep one busy.
Faber looks like he moved to thailand for the ladyboys.
Females of that tribe are verboten.
There's a lot more than the hookers!
I miss the haircuts the most. A gorgeous gal cutting the hair, attention paid to every detail (including nose and ear hair), shampoo, topped off with a head & shoulder massage. Less than 10 bucks and you can drink the adult beverage of your choice during the time (I preferred Bacardi peach drink)... Heaven on earth.
I miss the Thai young TSA nubile [female] agents cupping my scrotum gently searching for....contraband while they look up at me smiling.
The best plan is to join the moochers and become a democrat dependent on government slime ball...
Does he mean 'next year' as in this Friday -- or -- does he think they will wait until next week to lower rates and start QE4?
Personally, skipped right by the read. Went straight to the comment section.
I find my doom and gloom reading material from far more reliable sources.
Sorry, Marc
They pulled Marc Faber from his hole, Sees Another Recession, Looks like we are in for another 7 years of recovery.
I have to wait until Gartman sez so.
Does he really think he is the only one who is looking for re in the countryside of Italy?
"Does he really think he is the only one who is looking for re in the countryside of Italy? "
He might be selling.
AHa! -The crafty old hustler might be trying to unlead some hastily bought, speculation/greater fool wildly overpriced italian farmland -on me!
But; -how to tell??
It's easy.
Learn how to tell when someone is actually talking their book by buying my new book: 'Learn How To Tell When Hustlers Are Talking Their book'..
Truly you have a dizzying intellect.
I thought you had to get out of Recession before you get A.N other.one?
Marc Faber's been short Treasuries since the 30-year was at 7%. How's that worked out for ya, Dr. Gloom?
Nice he took time out from cruising little Thai boys to scare us. Like a german Dick Bove.
Jamie is that you, you ol faker
all those demons from that thai. PY rotting his brain.
Said that gold was a buy at 1400.
He did have a good call at the 08 bottom
Someones a big faber fan, lol - handing out negatives like crazy!
No, it's your glaring display of stupidity that gets the down votes.
Thailand's military govt would have him arrested for saying these things so he fingers all the doom at USA.
Keep the books like they did in 1960 and we are in a depression.
Marc Faber forecasting a recession? Wow, just wow!
MF is completly irrelevant.
He did make a good call on buying US RE a few years ago. And I think he's also right on Spanish and Italian countryside estates. His treasurys call is high risk, low reward, though.
Faber is always predicting doom. I'm sure he's a very intelligent man, so I'm more interested in his positive views. Where does he see opportunity?