Tuesday, October 27, 2009
Gloom, boom, and doomster Marc Faber made the rounds yesterday talking about the future of the U.S. dollar and the news wasn't good - something about its value going to zero, over time, in this talk
with Ricky Cash at Bloomberg
He's still clearly in the "hyperinflation" camp, but not just yet because of the near-term oversold condition for the U.S. currency.
On Bernanke: "He's a money printer. He does that well."
At Reuters the topic of discussion is the U.S. economic stimulus program where the prognosis is not good either - something about government spending being inherently inefficient at getting an economy going again and ultimately leading to much higher levels of debt and then much higher interest rates.
You have to wonder whether there's anyone in the Obama administration who pays any attention to this sort of commentary.