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Wednesday, February 18, 2009

Marc Faber is everywhere today

Our main man, Marc Faber is everywhere today.

He phoned in to chat with Bloomberg this morning about the financial health of the European nations and their currencies, as well as the importance of US stock market indices (S&P 500) approaching their November lows.

Marc also penned an interesting opinion piece for the Journal today entitled, "Synchronized Boom, Synchronized Bust". Here's an excerpt:

"The world has gone from the greatest synchronized global economic boom in history to the first synchronized global bust since the Great Depression. How we got here is not a cautionary tale of free markets gone wild. Rather, it's the story of what can happen when governments ignore market signals and central bankers believe in endless booms..."

"...Sadly, government policy responses -- not only in the U.S. -- are plainly wrong. It is not that the free market failed. The mistake was constant interventions in the free market by the Fed and the U.S. Treasury that addressed symptoms and postponed problems instead of solving them."

Food for thought. Check out the full piece at the link above (Hat tip to Bear Mountain Bull and The Big Picture).