Solid interview by Marc Faber on GoldSeek Radio last week. My notes are below, and you can listen to the interview yourself at the 1 hour mark via this link: http://radio.goldseek.com/
- Overall, Faber thinks we’ve reached the bottom of the economic valley, but doesn’t expect a robust economy anytime soon
- Bernanke’s record as a forecaster has been “a total catastrophe” – ha!
- The last recovery was an artificial one in the first place, because the beneficiaries were the Wall St guys, and not the middle class
- He believes the deflationists are wrong, and the deflation scenario is out of the question, because the Fed can and will print (more than) enough money
- Still thinks we will not revisit the low of 666 on the S&P in nominal terms, again due to money printing
- Sounded bullish on gold medium/longer term, but is not convinced this move over $1,000 is going to last because for his taste there’s “a little bit too much enthusiasm about gold right now”
- Sees the standard of living in the US continuing to deteriorate, especially with respect to the Eastern World, which he expects to grow at a faster pace
For more on the inflation/deflation outlook, be sure to check out this fantastic inflation debate between Faber’s good friend, deflationist Robert Prechter, and inflationist Jim Puplava.