Japan Quake : a turning point for the Yen negative for JGBs positive for The Japanese equities

Marc Faber was interviewed on the phone by CNBC today 15 March 2011 he spoke about the Japanes Quake its implication on the Yen the JGBs and the Japanese Equities and commodities he also said that the S&P Standard & Poor's 500 is likely to to drop as much as 15 percent and that Fed Chairman Ben Bernanke will likely to bring QE 2 , QE 4, QE 5, QE 6, QE 7 and up to QE 18


Marc Faber :..."... first of all I think that all stock markets and commodity markets were due for a meaningful correction because we have doubled or more than doubled since March 2009 , so any kind of event was likely to trigger a more meaningful correction and I think that this is an event that is most unfortunate but obviously it is a catalyst of a global correction in asset market in particular obviously in Japan , now as an investor of course it's a human tragedy and as an economist you have to say OK we have essentially destruction in Japan we should necessitate very heavy spending reconstruction expenditure that will be somewhat inflationary for the Japanese economy , and somewhat positive for equities and and certainly negative for JGBs , and in my opinion in the long run very negative for the yen , can the yen as a reaction , because everybody says Oh the Japanese were patriots and the yen will strengthen so may be the yen will go up first a little , but I think this is a kind of a turning point for the Yen and that the Yen will weaken that the JGBs will weaken and that equities will go up ...and purely as an economist investor I would say This huge selloff is an investment opportunity in Japanese equities, but if a meltdown occurs then all bets are off,that is the big question "" If a real nuclear meltdown occur then the devastation could be just mind bugling " the above partial transcript was done manually by the owner of this blog and hence it is far from being perfect or accurate use at your own risk...