The world is doomed because the governments are taking over and will bankrupt us, says Marc Faber, editor & publisher at The Gloom, Boom & Doom Report. He also tells co-guest host Michael Yoshikami, founder, president and chief investment strategist at YCMNet Advisor, CNBC's Bernard Lo and Karen Tso. that the Goldman fraud case was mainly political.
Despite being characteristically negative towards the US government’s meddling of economy, Faber made some interesting remark on the market. Market could go much higher because of the unprecedented amount of stimulus. But Market’s climbing only serve the purpose to give us something to play with before the government bankrupt us all – quite a conspiracy theory.
One firm Faber likes is the troubled Goldman Sachs. He thinks the firm is actually a relatively good firm with a strong compliance department. The firm’s being singled out by SEC serves political purposes of boosting the administration’s popularity among the the middle class.
Despite being characteristically negative towards the US government’s meddling of economy, Faber made some interesting remark on the market. Market could go much higher because of the unprecedented amount of stimulus. But Market’s climbing only serve the purpose to give us something to play with before the government bankrupt us all – quite a conspiracy theory.
One firm Faber likes is the troubled Goldman Sachs. He thinks the firm is actually a relatively good firm with a strong compliance department. The firm’s being singled out by SEC serves political purposes of boosting the administration’s popularity among the the middle class.
