Thursday, October 30, 2008

Marc Faber: "Bernanke is a disaster"

Market strategist and investor Marc Faber joined Bloomberg yesterday to talk about the Fed rate cut and its affect on the markets.

As those who are familiar with Faber's views have probably guessed, Marc was none too impressed with the Federal Reserve's latest action, or any of the recent efforts to "pump liquidity" into the markets and the economy.

When asked about the job Ben Bernanke is doing as Fed Chairman, Faber responded by saying "Bernanke is a disaster".

He also pointed out that the recent Treasury and Fed interventions and rule changes have actually created more volatility in the markets, citing the recent ban on short-selling as a primary example.

Plenty more to hear in this interview clip, including a discussion of the current "inflation or deflation" debate. Click the link above to watch.

You can also check our related posts section for previous Faber interviews to see how this Fed-driven boom-bust cycle has come full circle.

Related articles and posts:

1. Marc Faber speaks with Bloomberg.

2. Marc Faber on markets, Fed intervention.