Marc Faber made it clear he’s long-term ‘ultra-bearish’ but short-term bullish since governments will print money.
CNBC in Hong Kong had a bull vs. bear fight that elicited some quality moments:
CNBC’s Bernard Lo: “I think you’re growing horns today Marc”
Faber: “As you know, I am ultra-bearish about the world, I think we are all doomed, because the governments are taking over and they will all bankrupt us and expropriate us, [gasp from others] but it may not happen tomorrow, so they will give us something to play with until the whole system breaks down, and that is a bull market.They’ll just print money, and print more money.
Faber: “The markets can go much, much higher.”
Faber: “I think Goldman Sachs is a rather honest firm. They have a very strict compliance department compared to the others — they’re like an angel. But they targeted Goldman as it stands as a symbol of Wall Street, plus it’s also Israel, you understand?”
Micheal Yoshi [We believe], debating vs. Faber: “I wanted to comment a bit on what Marc has said… If anybody was to say, what do you [Marc Faber] stand for, basically it’s that the world is coming to and end… but at the same time you just kind of slid in there that for the time being it’s OK for investors to invest. So it’s very important for investors to realise that there’s been a time horizon shift here, I know that in your previous GBD report..”
At which point the CNBC segment is forced to come to an end just as the gloves come off, anyhow, this is one of the funnier CNBC Asia segments:
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