This follows Marc Faber’s Bloomberg Radio interview and is a bit more informative as the topic of Thailand’s turmoil isn’t touched.
Marc Faber: Bloomberg Interview May 25, 2010
- The market is currently oversold in the near term, and markets could rally a bit
- “The banks are gone” but interest rates are at zero
- June-July are months in which we usually have a summer rally
- Bearish about everything
- Fiscal deficits are high and will continue to go up
- Gold might go down somewhat more, but is quite happy to hold considering what’s going on
- Government officials should resign
- Eventually sovereigns will default
- In the long term, we are doomed
- The only assets that will keep purchasing power are precious metals
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