Marc Faber joined Bloomberg this week to discuss the economy, risks of inflation, gold and gold mining shares, and the possibility for a rally in the US stock market.
Lots of interesting thoughts here from Marc on the world stock markets and the global economy.
He notes that the world has certainly slumped into a depression, with a decline in global GDP of "at least 10 percent" ex-government spending.
At the same time, Marc points out that stock markets worldwide have dropped more than 50 percent, and that sentiment has turned extremely negative. These recent developments have given Faber a more favorable view of buying shares for the long-term.
He also thinks we could see a near-term rally in shares and asset markets as a result of government/central bank money-printing, along with a deceleration of bad news in the coming months.
Related articles and posts:
1. Marc Faber interview: Financial Sense Newshour - Finance Trends.
2. Marc Faber: more boom, less gloom and doom - Business Insider.