Reenita's Wisdom

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.

I am not sure whether to laugh or to cry about the fact that with everything going on in the world, CNN has nothing better to do than report on Asif Ali Zardari’s flirtation with Sarah Palin.

Pakistan’s president tells Palin she is ‘gorgeous’ is the the headline on CNN’s article this afternoon.

Come on folks, call me a cynic but surely we have some serious news to tell: the financial crisis, the Fed’s bailout plan, the new threat to global warming, India’s brand new biofuels policy.….as if that is not enough?

The fact that both of them are grinning from ear to ear goes to show that obviously flirting with each other is more interesting to Palin and Zardari than the idea of flirting with political policy.

America…I agree that I would like to see a woman in office but if you are serious, how about I line up a bunch of soccer moms from the local school district?