By Joseph Marsh | 8 December 2009
US Federal Reserve officials also seem to miss the fact that excessive credit growth and leverage have driven monetary and economic instability, says Marc Faber.
"Recently Paul Krugman wrote a 6,000-word article in the New York Times with the title 'How did economists get it so wrong?'. The title should have been 'How did I, Paul Krugman, get it so wrong?'." So says famed bear Marc Faber, also known as Dr Doom, at AsianInvestor's recent Southeast Asian Institutional Investor Forum in Bangkok last week.
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Dr. Marc Faber also known as Dr Doom is an investment advisor, investment analyst and fund manager author and publisher of the Gloom Boom & Doom Report . Dr Faber is known for his contrarian investment approach. Dr Marc Faber is associated with a variety of funds and is a member of the Board of Directors of numerous companies.
he became well known for advising his clients to get out of the stock market one week before the October 1987 crash. Dr Doom motto is "Follow the course opposite to custom and you will almost be right"