While the discussions between these two legends varied from Phat Phong nightlife to Dow 30,000, and from China bullishness to AAPL bearishness, it was the conversation about the actions of Bernanke, and more importantly our political leaders that summed up perfectly the dreadful reality in which we find ourselves. The punchline: "It is very dangerous to have ignorant people believing that they know something."
Rogers is bullish China long-term but buying Chinese stocks only selectively...
Faber sees under-the-surface weakness in US equities and while central banks could print us to Dow 30,000; gold and other commodities will be astronomical by then...
Faber is bearish AAPL, believes its a bubble - but too dangerous to short...
Both are uber-bearish central-bankers and politicians...
Marc Faber: "Both candidates are clueless and completely artificial..."
Jimmy Rogers: "It's worse than clueless, because they think they know what they're doing.. and so they are dangerous! If they were just clueless and looked out the window, we wouldn't have a problem, but they think they have the solution - but their solutions are what's making the situation worse..."
Marc Faber: "That is precisely the point. It is very dangerous to have ignorant people believing that they know something!"
Summed up perfectly, we believe.
Must watch - especially to hear the CNBC anchor squirming...