Marc Faber's latest thoughts on the euro (not good), on Greece (also not too good), and gold (good to quite good). "I don't think it will work out, and I think other countries like Spain and probably Portugal (and Italy) will then also have to be bailed out eventually, and it will lead to more monetization in Europe, one of the reason the euro has been so week... The pain of the austerity will be very, very burdensome on Greece, and eventually the economy can not grow with the kind of budget they will have to enact, and under these conditions their currency is way overvalued (they are in the euro).
Marc Faber discusses America's unsustainable debt load in this interview with Margaret Brennan on Bloomberg TV. An amusing observation: the GDP growth from each $1 of new total debt has dropped from $0.25 to -$0.60.
Hugh Hendry, always beautifully opinionated, nails it at the Russia 2010 forum with the following oneliner: " Who cares about anyone's opinion. You pay money for what they do with that opinion ." We are in complete agreement as this conforms precisely with what one of our former legendary, multi-billionaire, corpulent superiors once said "nobody gives a fuck about your opinion." On the other hand presenting amusing observations coupled with engrossing narrative, that nobody seems to have an issue with. The following clip from the Russia Forum pits one against another Marc Faber, Hugh Hendry, Nassim Taleb, PIMCO's Michael Gomez, Investec's Michael Power, resulting in a memorable debate
This latest development should surely make for some abnormally entertaining Sprott reports: "Sprott Inc.
A summary recap of the bullish groupthink gripping the Barron's Roundtable.
Thursday, March 4, 2010
0 Comments