Contact us
CALL US NOW 1-888-GOLD-160

Dr. Doom: The US Economy Is Terminally Sick

  by    0   0

Marc Faber appeared on CNBC Futures Now recently to talk about the impending pop of the stock market bubble. “Dr. Doom” has predicted a 20% to 40% stock market selloff in the near future.The show’s host, along will Scott Nations, pressed Faber on the surging stock market. “If someone piled into stocks in 2012, 2013, 2014 or 2015 they’ve done pretty well. Why were you so wrong then, and why should we think you’re so right now?” Nations asked.

marc faber Dr. Doom

Faber insisted investors need to look at the underlying economic fundamentals, not the latest stock market numbers.

“I think the US economy, and western economies in general, are terminally sick. And we have, since 2007 before the crisis, essentially almost doubled global debt as a percentage of GDP. We have a huge debt-load. The US has run a deficit for as long as the eye can see. The conditions today are more fragile than they were ever before. And unless somebody comes and introduces minus 5% interest rates, which is a tax on the wealthy people, I think the economy is really not in such a great shape. I’m actually amazed that people are so optimistic.”

It’s hard to argue against Faber’s contention that the economy is terminally sick. GDP in the first quarter grew just 0.7%, and there are numerous other ominous signs in recent economic data. In fact, there seems to be a huge disconnect between market perception and economic reality.

Faber said there is no way to know when the market will crack, and he reminded the audience that he predicted a surge in the markets with the election of Trump. But he reiterated it can’t last forever.

“The point I want to make is we are in the euphoric stage. People are piling into stock. I want to pile into stocks when people are piling out of stocks.”



Get Peter Schiffís latest gold market analysis click here – for a free subscription to his exclusive weekly email updates.
Interested in learning more about physical gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

Related Posts

Peter Schiff: People Will Be Wiped Out By the Inflation Tax

The printing presses are running at full speed as the Federal Reserve creates money out of thin air at an unprecedented rate. Peter Schiff recently appeared on Kitco News to talk about the impact of all money-printing, borrowing and government spending. Somebody has to pay for this and we all will. In fact, a lot […]


Peter Schiff: A Very Dangerous Road to Go Down

As if there weren’t enough headwinds for the economy already, the Washington Post reported the Trump administration was exploring the possibility of canceling some US debt obligations to China.  President Trump denied it but floated the idea of tariffs on Chinese imports as punishments for that country’s handling of the coronavirus. Peter Schiff appeared on […]


Peter Schiff: Gold Mines are Literally Gold Mines

Earnings reports started coming in last week. It was a mixed bag, with some companies showing the negative impacts of the coronavirus-induced government shutdowns, but other companies coming in more upbeat. Peter Schiff appeared on RT Boom Bust to talk about it. He said the only thing the stock markets have going for them right […]


Peter Schiff: The Great Inflation Debate

Peter Schiff recently appeared on Newsmax The Income Generation with David Scranton to talk about the impacts of the coronavirus government shutdown on the economy. The segment turned into a somewhat contentious debate about inflation. Guest host Jeff Small insisted we aren’t going to see price inflation, despite the Federal Reserve creating trillions of dollars […]


Peter Schiff: Who’s Going to Pay for All This?

The federal government is borrowing and spending trillions to bail out everybody. The Federal Reserve is enabling this by printing trillions of dollars out of thin air. On a recent InfoWars interview, Peter Schiff asked the question nobody seems to be grappling with: who’s going to pay for all this? Peter reminds us that ultimately […]


Comments are closed.

Call Now