He’s out shitting on Keynesian economics, conjuring up 5,000 years of history dating back to Babylon, to point to the errors of the negative interest rate policies.
He cites One Flew Over the Cuckoos Nest as an analogy to describe the current market, where the doctors are insane and the inmates are normal.
Recession is already here.
HOWEVER, before the world ends, Faber is expecting a spring rally–due to the oversold nature of the market. He’d sell on strength and wait for a pop to initiate new short sales.
All very funny.
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Faber, otherwise known as Devil Dog.
http://ibankcoin.com/flyblog/2016/02/03/the-rationale-behind-negative-rates/
Agreed, it is all very comical, on both parties of this clip. Other than the 87 crash reference, Faber has some good points, despite the fact he sounds like an old Bond movie villain.
We need a Jack Nicholson-character scale, to grade the market each week