Monday, January 12, 2009
Marc Faber: “I Think it Might Be Far Worse [Than the Great Depression] Precisely Because of the Interventions” by the Government
PhD Economist Marc Faber writes:
Economic conditions may turn out to be far worse than in previous recessions, including the Great Depression at the beginning of the 1930s. Everybody seems to think that, thanks to the government's monetary and fiscal interventions, this recession will come nowhere near the 1930s slump. However, I think it might be far worse – and precisely because of the interventions.Nice going Paulson, Bernanke and Frank.