Marc Faber sits down with Bloomberg TV for an extended chat about the global economy and investment markets. Faber tells Bloomberg's Bernard Lo that the global economy is "stuffed" for some time, with economic activity (ex-government spending) is down about 15 percent from the peak (2006-2007).
This past prosperity was built on borrowed money, and although Marc expects the economy to stabilize at some point, he does not expect us to surpass these peaks in prosperity and speculation for some time.
However, Marc does see intriguing value in depressed commodities and equities in sound companies. Whenever the recovery comes, it should lift these asset prices.
Marc is also still long-term bullish on gold and all the precious metals, given the unprecedented state of global money printing and the inflation that is sure to follow.
Plenty more to hear in this engaging and entertaining interview clip; be sure to catch Marc's comments on some of the "special" crops that grow near his farm in Thailand!
Related articles and posts:
1. Marc Faber thinks markets could rally - Finance Trends.
2. Jim Rogers: US bailouts add to depression risk - Finance Trends.
