(GuruFocus, September 28, 2009) Editor and Publisher of “Boom, Gloom, and Doom” Marc Faber is on his mission to attacking the handling of economy of the US Fed. In the following interview with CNBC, Faber made the following comments:
1. Responding to the latest development in IMF that gives the developing countries more voting power, Faber thinks the shifting is based on the positive economic development of those nations. Those nations are producing more and becoming more important in the world's economic affairs.
2. However, he thinks latest G-20 meeting on economy was a total waste of time as the meeting call for more regulation. He thinks the new regulation will be worse than the existing ones. One conflict he points out is that meeting calls for less regulation while in reality governments, especially that of US government takes on enormous more regulation.
3. People living in the US should allocate at least 50% of their money in the emerging market. That was what he does.
4. On the Fed, Faber argue that the US Central Bank itself created the current financial bubble during the 2002-2008. The low interest and the lack of regulatory action on high leverage and speculation during the period create the biggest bubble.
5. Now the Fed is trying to solve the problem of bubble burst by creating another bublle.
Also read and watch Marc Faber interviewing with Fox Business News and also with Bloomberg.
GuruFocus provides real time information and insights of Investment Gurus such as Warren Buffett and Marc Faber for Premium Members. If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.
1. Responding to the latest development in IMF that gives the developing countries more voting power, Faber thinks the shifting is based on the positive economic development of those nations. Those nations are producing more and becoming more important in the world's economic affairs.
2. However, he thinks latest G-20 meeting on economy was a total waste of time as the meeting call for more regulation. He thinks the new regulation will be worse than the existing ones. One conflict he points out is that meeting calls for less regulation while in reality governments, especially that of US government takes on enormous more regulation.
3. People living in the US should allocate at least 50% of their money in the emerging market. That was what he does.
4. On the Fed, Faber argue that the US Central Bank itself created the current financial bubble during the 2002-2008. The low interest and the lack of regulatory action on high leverage and speculation during the period create the biggest bubble.
5. Now the Fed is trying to solve the problem of bubble burst by creating another bublle.
Also read and watch Marc Faber interviewing with Fox Business News and also with Bloomberg.
GuruFocus provides real time information and insights of Investment Gurus such as Warren Buffett and Marc Faber for Premium Members. If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.
