Marc Faber : IBM & the Australian dollar are 2 good shorts

Marc Faber : IBM [IBM] is a good short. It is the back office of the world. There is room for earnings disappointment. If China implodes, the Australian dollar will go downwhill. That's another short. A third is Salesforce.com [CRM], which I recommended shorting in the June Roundtable ["Buy Low, Stay Nimble," June 13, 2011]. - in The Barron's Roundtable

Marc Faber : Europe isnt an economic issue but a political issue

Marc Faber: The world has now wasted almost nine months talking about Europe. This isn't an economic issue but a political issue. The weak countries should be kicked out of the euro and the losses taken. The longer you support countries like Greece, the more the crisis will drag on and the losses will increase. The Greeks will get more money and pretend to implement austerity, and then buy a few more BMWs. Greece's bonds need a haircut of about 90%, and even then, the country might not pay off the rest of its debt. - in The Barron's Roundtable

Marc Faber : Italy should tax the church

Marc Faber : The combination makes for a nice fruit cocktail. European governments, and the U.S. government, can sell assets, but they can't do it overnight. Governments such as Italy own large stakes in corporations. They own land. They could also tax the church once in a while, which would bring in a lot of money. That would solve all the problems of the world. - in The Barron's Roundtable