Dr. Marc Faber, editor of the Gloom Boom and Doom Report, provides his characteristically pessimistic outlook, arguing that while Asian economies have bottomed out, mature Western economies are turning down amid unsustainable asset price inflation. He believes the 40-year asset bubble since 1980-81 is ending and "everything will go down eventually," making preservation of capital more important than growth. Faber is ultra-bearish on all paper currencies, expects residential real estate to decline significantly, and warns the US debt situation "will end badly" - possibly through World War III. Despite being in the financial sector that benefits from money printing, he surprisingly agrees with Powell's reluctance to cut rates, arguing money isn't actually tight despite higher interest rates.
Sponsor:
Monetary Metals. https://monetary-metals.com/julia
0:00 Welcome and introduction - Dr. Marc Faber returns to the show
1:18 Big picture global economy - Asia bottomed out, mature economies turning down
7:59 Asset price inflation and monetary policy - where money flows first
13:37 Monetary Metals ad read
15:23 The illusion of wealth - from millionaires to billionaires
18:46 Housing affordability at lowest level ever in America
23:21 US debt and deficit - "it will end badly" but when?
24:50 How it ends badly - World War III is a possibility
28:48 Ultra bearish on US dollar and all paper currencies
32:12 Precious metals thesis - as long as liquidity remains plenty
36:28 Cryptocurrencies - "will go up until it won't"
38:26 Fed policy - agrees with Powell not to cut rates
41:35 Real estate outlook - residential property "very vulnerable asset"
45:11 Biggest risk and opportunity - everything will go down eventually
Links:The Gloom, Boom & Doom Report: https://www.gloomboomdoom.com
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
My Favorite Murder with Karen Kilgariff and Georgia Hardstark
My Favorite Murder is a true crime comedy podcast hosted by Karen Kilgariff and Georgia Hardstark. Each week, Karen and Georgia share compelling true crimes and hometown stories from friends and listeners. Since MFM launched in January of 2016, Karen and Georgia have shared their lifelong interest in true crime and have covered stories of infamous serial killers like the Night Stalker, mysterious cold cases, captivating cults, incredible survivor stories and important events from history like the Tulsa race massacre of 1921. My Favorite Murder is part of the Exactly Right podcast network that provides a platform for bold, creative voices to bring to life provocative, entertaining and relatable stories for audiences everywhere. The Exactly Right roster of podcasts covers a variety of topics including historic true crime, comedic interviews and news, science, pop culture and more. Podcasts on the network include Buried Bones with Kate Winkler Dawson and Paul Holes, That's Messed Up: An SVU Podcast, This Podcast Will Kill You, Bananas and more.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.