We live now in an environment of very, very high volatility, because on the one hand you have the private sector that has tightened lending conditions, and wealth has been destroyed. Households will save more and be more prudent financially than they've been. In other words, credit or liquidity is tightening.
Then on the other hand you have these clowns in government that think that they can solve any problem. As Mr. Geithner said recently, "we know how to fix the problems." Well if he knew so well how to fix the problems, why did he let the problems happen in the first place? He was the New York Fed Chairman when the conditions were created!
Thursday, April 23, 2009
Why the Nickname Dr. Doom?
"I earned my name as ‘Dr Doom’ for predicting that stock market crash a week before it happened. It was lucky that it happened so soon after I made the prediction rather than six months later."
Marc Faber cemented his reputation further by turning bearish on the Japanese market in the late 1980s and also predicted the Asian crisis in the late 1990s. Over the course of the 1990s the subscribers to his Gloom Boom & Doom newsletter grew steadily.
Marc Faber cemented his reputation further by turning bearish on the Japanese market in the late 1980s and also predicted the Asian crisis in the late 1990s. Over the course of the 1990s the subscribers to his Gloom Boom & Doom newsletter grew steadily.
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