Marc Faber: “The bad news is essentially out”
In this video clip, Marc Faber, author of the Gloom, Boom & Doom Report, discusses China’s economy. Faber, speaking with Deirdre Bolton on Bloomberg Television’s “InsideTrack”, also talks about Chinese stocks and interest-rate policy.
Here is an excerpt:
“I’ve been arguing this year that the economy would inevitably slow down, because the impact of the stimulus would diminish. But having said that, the economy hasn’t crashed yet. It could still crash. But on the other hand, if you look at the performance of equities worldwide, it seems that the worse the economic news is, that the more the markets go up, because the market participants expect further easing measures, and maybe further stimulus. So altogether I would say it’s not going to be a disaster for stock investors yet.
“It’s interesting. The Chinese stock market began to discount the slowdown in economic growth actually precisely a year ago, in August, 2009. The market peaked out. And then drifted lower, but now that the bad news is essentially out, the market has started to rebound.”
Source: Bloomberg (via YouTube), August 2, 2010.
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