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Dr. Marc Faber says to prepare for worst

Dr. Faber, the keynote speaker at the May 22nd NYC Mises Circle Seminar, had no good news about the status of the world’s financial affairs.  He is of the opinion that all sovereigns will continue to create monies as solutions to their financial woes and that gold is the right investments for the times.

Further, Dr. Faber asserted that the Greenspan-induced artificially low interest rates were the primary cause of the dotcom bubble and the catastrophic housing bubble.  This position is consistent with the Austrian economic theory of boom-bust cycles.   Consequently, if the world’s nations continue to print, the current Great Recession may turn into another Great Depression.  After the corrective part of the boom-bust cycle sets in (the malinvestment liquidation period, the bust), continued government interference in the marketplace causes the recession to be longer in duration and even great in depth than would have been if the government had done nothing.

Lewrockwell.com labeled Dr. Faber’s talk The Coming Economic Catastrophe.  He is a link to a video of Dr. Faber’s one hour talk, compliments of lewrockwell.com.  Do not pass up watching Dr. Faber’s presentation.  It kept 350 attendees glued to their seats.

My perception, coming away from the seminar:  The car has gone over the cliff.  The best we can hope for is something to break its fall.

One Response to “Dr. Marc Faber says to prepare for worst”

  1. TradePlacer

    Mainstream media tries to discount Marc Faber’s views as perma-bear negative, but he has one of the best track records of anyone and has called all the major turns in the last decade. When he speaks I listen.


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