Thursday, September 22, 2011

Marc Faber Warns of Major Financial Catastrophe

Marc Faber is interviewed live from Hong Kong by Fox Business on the 21st of September 2011.

Marc Faber says he can't predict when the crash will happen but the stock market is going down because it's discounting a very bad event. However he does not know what the event is yet.

Amazingly he also praised Bernanke. But that was because he did not expand the balance sheet.

Faber says government intervention has gone so far that reducing intervention and lowering the deficit will cause temporary pain. He predicts President Obama will do anything to get the votes including providing handouts.

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