Marc Faber: China’s Lies, and the Asian Feedback Problem

Some unsurprisingly dire comments from Marc "Gloom, Boom and Doom" Faber on CNBC just now:

On Asian demand bailing the U.S. out …

ASIA IS THE PRODUCER FOR THE UNITED STATES, AND IT IS ALSO THE REGION THAT HAS VERY LARGE CAPITAL SPENDING. SO WHEN THERE IS A SLOWDOWN IN THE U.S., IT’S NOT GOOD FOR THE U.S., BUT IT’S BASICALLY A DISASTER FOR ASIA, AND THEN, BECAUSE OF REDUCED DEMAND IN ASIA, IT’S AN EVEN GREATER DISASTER FOR THE RESOURCE PRODUCERS OF THE WORLD: THE MIDDLE EAST, RUSSIA, BRAZIL. SO THE WHOLE WORLD GOES INTO A VICIOUS DOWNCYCLE ECONOMICALLY AND THE U.S. IS RELATIVELY BETTER OFF.

On China…..

I DON"T BELIEVE THE CHINESE ECONOMY HAS BEEN GROWING AT 9%. I THINK IT’S BEEN DEACCELERATING VERY RAPIDY. BUT THE CHINESE, THEY LEARNED ONE THING FROM THE U.S. GOVERNMENT. IT’S HOW TO DOCTOR ECONOMICS.

And when you say all this stuff with Faber’s Swiss/German accent it sounds … well, worse.

Related posts:

  1. Marc Faber on Markets
  2. Marc Faber is All Gloom and Doom, No Boom
  3. Marc Faber: 14% S&P 500 Rally Post-Paulson
  4. Marc “Dr. Doom” Faber Turns Bullish on U.S. Stocks
  5. Marc Faber: Global Markets Poised for “Severe Correction”

Comments

  1. Brandice says:

    This arilcte keeps it real, no doubt.