Marc Faber Sees QE18, WWIII Ahead
Marc Faber provided his latest views on the markets and global economy this morning in light of the nuclear crisis in Japan.
In a CNBC interview, the editor of The Gloom, Boom & Doom report made a bevy of predictions – which included many more rounds of quantitative easing (up to QE18), and eventually World War III.
Highlights from his comments included:
- the damage from the Japanese crisis will necessitate very heavy spending to rebuild infrastructure, and “that will be somewhat inflationary for the Japanese economy.”
- may be beneficial for equities in Japan
- negative for JGBs (Japanese government bonds)
- situation is “very negative for the yen in the long run”
- sees this as a “turning point for the yen”
- crisis is a “huge financial burden on a government that is already indebted”
- “I think it’s healthy that the markets start to focus on something else than what Mr. Bernanke is telling the press all the time.”
- “And then QE3 will come, QE4, QE5, QE6, QE7, whatever you want. The money printer will continue to print, that I’m sure.”
- u201CMr. Bernanke doesn't know much about the global economy, but he watches the S&P every day.u201D
