Marc Faber, editor of the “Gloom, Boom and Doom report,” was a keynote speaker at Asian Investor magazine’s 5th Annual Investment Summit last week. He had some interesting things to say about the US Federal Reserve’s monetary policy vis-a-vis the financial crisis.
Dr. Faber remains pessimistic about the U.S. Federal Reserve’s economic interventions. Excessive credit growth and leverage have driven monetary and economic instability, he says.
“Recently Paul Krugman wrote a 6,000-word article in the New York Times with the title ‘How did economists get it so wrong?’. The title should have been ‘How did I, Paul Krugman, get it so wrong?’.” So says famed bear Marc Faber, also known as Dr Doom, at AsianInvestor‘s recent Southeast Asian Institutional Investor Forum in Bangkok last year.
Read the complete story on Asian Investor’s website.