MARK FABER SPREEKT…
19 januari, 2010 | door MHAAGEN |…en wat hij zegt klinkt niet zo best : de China-bubbel zal doorprikt worden, zij het niet meteen en niet in één keer, en de VS zijn verdoemd ! De schulden zijn té hoog en ze zullen steeds hogere intresten moeten betalen : get out of US stocks NOW waarschuwt hij ! U heeft deze info al eerder op dit forum gekregen maar de stem van deze Zwitserse beursgoeroe is wel het belangrijkst natuurlijk…
By: Ellen Chang/Moneynews
The United States is “doomed” because it faces a large debt crisis, says Marc Faber, the editor of The Gloom Boom & Doom Report.
He believes that the consensus is wrong and a correction could occur sooner, partly due to complacency.
Huge rising debt and interest will affect the United States in the next five to 10 years.
Investors should take their money out of stocks since the upside is “limited,” he told Yahoo Tech Ticker.
Investors who are affecting the market right now could “pull the trigger relatively quickly,” he said.
While bonds could rebound in 2010, investors need to be wary of Treasuries down the road because they will lose value.
Investment opportunities remain in Asia because they will demonstrate “favorable growth” in the future, he said.
India and Japan still have opportunities, he said.
Gold remains “attractive” for a longer-term perspective, Faber said.
He is also a fan of buying wheat.
Investors should stay away from wheat exchange traded funds, or ETFs, since they are expensive and should instead buy stock in companies with farm land or potash companies, he said.
Faber said oil prices will increase since demand from emerging countries will also rise, he said.
China could also see an end to their bubble from too much debt, but it will probably not occur in the near term, Faber said.
“It is very difficult to pinpoint a day when China will implode, I don’t think it will happen right way,” he said.
1 Reactie op “MARK FABER SPREEKT…”
Door Jeroen op 19 januari, 2010 | Reageer
Reactie van Mish Shedlock op zijn website: hij is het eens met de visie van Faber en geeft een tijdspanne van 5 tot 10 jaar waarin de dollar naar de knoppen gaat. Met de terechte opmerking dat problemen in europa, Japan of andere landen (Mexico) zich veel eerder kunnen voordoen. Mish is overigens een deflationist, net als ik: voordat we hyperinflatie krijgen, komt er m.i. eerst deflatie.
Marc Faber says “The US crisis won’t hit us this year or next year. But within 5-10 years, the United States will be forced to quietly default on its debt, most likely by printing money and destroying the value of the currency.”
I like that timeframe. People expecting the US$ to implode right here right now are simply too early in my estimation. As for five years from now, I will reassess later. There are too many things happening right here right now to worry about 5-10 years from now.
Certainly the PIIGS are near the top of today’s list of worries. Moreover, we can easily have a crisis in places eyes are not focused such as Mexico. Is anyone even looking at Mexico or what a housing crash might mean to Canada or Australia?
Let’s not forget that Japan’s rapidly aging demographics suggests that Japan crisis will hit before the US. Japan’s debt is approaching 200% of GDP, Japan is mired in deflation, and its aging workforce now needs to draw down on savings, in retirement. The belief that “Japan is a nation of savers and the US is a nation of spenders” is about to be shattered. Secular spending trends in both countries have peaked, in opposite directions.
Finally, the love affair with China is way overdone. The amount of fiscal stimulus and monetary printing is off the charts. China is a bubble waiting to burst. I am in the camp, and have been for years, that if China floated the RMB it might crash, not soar.