Marc Faber
Marc Faber
Marc Faberis a Swiss investor based in Thailand. Faber is publisher of the Gloom Boom & Doom Report newsletter and is the director of Marc Faber Ltd, which acts as an investment advisor and fund manager. Faber also serves as director, advisor, and shareholder of a number of investment funds that focus on emerging and frontier markets, including Leopard Capital’s Leopard Cambodia Fund and Asia Frontier Capital Ltd.'s AFC Asia Frontier Fund...
NationalityAmerican
ProfessionBusinessman
Date of Birth28 February 1946
CountryUnited States of America
Over my career, somewhere, somehow I must've made some right calls. Otherwise, I wouldn't be in business.
Now, McDonald's is a very good indicator of the global economy. If McDonald's doesn't increase its sales, it tells you that the monetary policies have largely failed in the sense that prices are going up more than disposable income, and so people have less purchasing power.
If you are eager to invest in countries that have good corporate governance, don't invest in emerging economies,
If the Chinese bubble bursts one day, which inevitably will happen - maybe not tomorrow, maybe in three months, maybe in three years - when it happens, it will have devastating consequences for the global economy.
My worst investment decision so far is to lend money to friends. So far, it has all come to zero.
My view is that the U.S. market will eventually join the emerging markets on the downside because if you take a bearish view about emerging economies, you cannot be too optimistic about the U.S. because for many U.S. corporations, 50 percent or more of their profits come from emerging economies.
The fallacy of monetary policy in the U.S. is to believe this money will go to the man on the street. It won't. It goes to the Mayfair economy of the well-to-do people and boosts asset prices of Warhols... Very happy. Very good for the Fed. Congratulations, Mr. Bernanke.
I'm an economist. I'm not a political servant.
If the U.S. Government was a company, the deficit would be $5 trillion because they would have to account by general accepted accounting principles. But actually they encourage government spending, reckless government spending, because the government can issue Treasury bills at extremely low interest rates.
If you're in any field, you should own a farm because one day you will be grateful that you are able to grow your own agricultural produce.
Buy a $100 U.S. bond and frame it to teach your children about inflation by watching the U.S. bond value diminish to almost nothing over the next 20 years.
Geopolitical tensions are on the rise and could at some point in the future have a very negative impact on the global economy and financial markets,
I don't think Canada is very inexpensive anymore. I travel there all the time; it's rather on the expensive side. I think there's significant risk to the Canadian economy.
I am pretty sure central banks will continue to print money, and the standards of living for people in the western world, not just in America, will continue to decline because the cost of living increases will exceed income. The cost of living will also go up because all kinds of taxes will increase.