Dr. Marc Faber, editor of the Gloom Boom and Doom Report, shares his pessimistic view on the global economy. He believes asset price inflation is unsustainable and warns that the current debt situation in the U.S. may end badly, potentially escalating into conflict. Faber critiques the illusion of wealth and highlights the declining affordability in housing. He’s bearish on paper currencies and advocates for investing in precious metals, citing that while liquidity remains plentiful, traditional assets may falter.
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insights INSIGHT
Asia Has Likely Bottomed; West Is Sliding
Marc Faber says Asian economies and markets have probably bottomed and now outperform the U.S.
Mature Western economies are turning down, so investors must be country- and stock-specific.
insights INSIGHT
Where New Money Goes Matters
Faber explains new money doesn't lift prices evenly and flows into specific asset corners.
That funneling inflates some assets while leaving others undervalued despite overall liquidity.
insights INSIGHT
Financial Sector Captures Money First
Faber says financial intermediaries receive money first and benefit most from money printing.
That creates a wealth illusion for asset owners while households lose purchasing power.
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Dr. Marc Faber, editor of the Gloom Boom and Doom Report, provides his characteristically pessimistic outlook, arguing that while Asian economies have bottomed out, mature Western economies are turning down amid unsustainable asset price inflation. He believes the 40-year asset bubble since 1980-81 is ending and "everything will go down eventually," making preservation of capital more important than growth. Faber is ultra-bearish on all paper currencies, expects residential real estate to decline significantly, and warns the US debt situation "will end badly" - possibly through World War III. Despite being in the financial sector that benefits from money printing, he surprisingly agrees with Powell's reluctance to cut rates, arguing money isn't actually tight despite higher interest rates.
0:00 Welcome and introduction - Dr. Marc Faber returns to the show 1:18 Big picture global economy - Asia bottomed out, mature economies turning down 7:59 Asset price inflation and monetary policy - where money flows first 13:37 Monetary Metals ad read 15:23 The illusion of wealth - from millionaires to billionaires 18:46 Housing affordability at lowest level ever in America 23:21 US debt and deficit - "it will end badly" but when? 24:50 How it ends badly - World War III is a possibility 28:48 Ultra bearish on US dollar and all paper currencies 32:12 Precious metals thesis - as long as liquidity remains plenty 36:28 Cryptocurrencies - "will go up until it won't" 38:26 Fed policy - agrees with Powell not to cut rates 41:35 Real estate outlook - residential property "very vulnerable asset" 45:11 Biggest risk and opportunity - everything will go down eventually
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