Tags: marc faber | optimist | economy | invest

'Great Optimist' Marc Faber: 'Mad Professors at Central Banks' Could Launch More Easing

Image: 'Great Optimist' Marc Faber: 'Mad Professors at Central Banks' Could Launch More Easing

By    |   Friday, 23 Oct 2015 11:17 AM

Marc Faber, editor of the “Gloom, Doom & Boom Report,” says he can be an optimist despite his constant predictions of market crashes and economic calamity, CNBC reported.

"I always tell people I'm a great optimist," he told CNBC.

"I'm most gloomy about the prospects of the global economy, but it doesn't mean that markets will go down," Faber said, thanks to "mad professors at central banks" who could implement another round of quantitative easing in the near future.

But he said U.S. stocks could soar to new highs, boosted by GE and General Motors.
Faber can be bullish, especially about Indochinese countries such as Vietnam, Cambodia, Laos and Myanmar.

"This region could grow at easily 6 to 8 percent per annum for the next 10 years, provided there is peace," he said.

But true to his character, he is cautious about the U.S.

"You could have zero interest rates and stocks go down," Faber said. "So even at these very low interest rates, something can happen and dampen the enthusiasm for equities."

Other prominent economic experts agree the government is to blame for placing the U.S. economy in the fast lane to disaster.

Newsmax Finance Insider Stephen Moore says that Washington doesn't understand what went wrong in 2007 and 2008, so the Fed, the White House and Congress are recreating the very same conditions for another financial bubble.

"If it pops, we could replay the same devastating effects as occurred during the first bubble in 1999 and 2000," he wrote.

"Government and politicians have no learning curve. All of the conditions of financial wreckage are reappearing. This is why congressional Republicans absolutely should put up a fight on the debt ceiling by requiring more budget discipline as a condition of higher debt levels," he advised.

But others disagree.

Billionaire hedge-fund manager Jim Chanos says economic improvement in the last eight years, mostly under the Barack Obama administration, has been “pretty amazing.”

"Of all the major economies right now, we're the place to be," legendary short seller Chanos told CNN. "The strides we've made the last eight years are pretty amazing," said Chanos, founder of Kynikos Associates.

Chanos helped to raise more between $200,000 and $500,000, according to OpenSecrets, for Obama's re-election campaign, CNN reported.

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Marc Faber, editor of the “Gloom, Doom & Boom Report,” says he can be an optimist despite his constant predictions of market crashes and economic calamity, CNBC reported.
marc faber, optimist, economy, invest
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2015-17-23
Friday, 23 Oct 2015 11:17 AM
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