Friday, Jul 17, 2009
Dr. Doom says it's not over...
CNBC.com: Ultimate Crisis Is Still Coming: Marc Faber
We haven't seen the last of the crisis despite all talk about green shoots, and the surge in markets was caused by nothing more than the excess liquidity coming from central banks, Marc Faber, author of the Gloom, Boom and Doom Report, told CNBC Friday.
"If you pump money into the system and you create large fiscal deficits, you create volatility," Faber said.
"We've seen an intermediate low in March, we'll rally for a year or so or maybe 18 months… the ultimate crisis will happen much later, and the ultimate crisis would clean the system," he added.
Posted by hotfoot @ 01:25 PM (141 views) Add Comment
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