Marc Faber on the Markets

Marc Faber has called most of this market movement pretty well. We are in general agreement with Dr. Faber on the longer term issues in the Western world (North America, Europe, and Japan), which are not positive while the future of the emerging market countries looks positive.

There is no real economic recovery. The debt loads have simply shifted from the private sector to the public sector, but have not decreased. Monetary policy will have to remain loose (note the FOMC statement from earlier today).

We are talking about an absolute collapse in Western economies.

We are not so confident that we have three good years ahead of us before things get really bad, though...

Take a look at these videos from yesterday's Tech Ticker on Yahoo!