Gloomy Times: Marc Faber, Jim Rogers, Ron Paul

I saw Marc Faber on television the other day, being interviewed about what he thinks will happen with the markets. A successful investor, Faber is mostly known for his newsletter, Gloom Boom and Doom. He has a Ph.D. in economics and has made prescient predictions in the past. One of these was his prediction of the 1987 stock market crash.

As a few others, right now he's advocating buying gold. He differs from the rest of the crowd, however, by advising people to buy physical gold and storing it outside of the United States. Buying derivatives on gold, he says, won't save investors if the US decides to make ownership of gold illegal. That this is a possibility that has some chance of occurring speaks to the gravity of our situation.

The following are some videos I found on YouTube. The first is the Faber interview I saw. The others are from further back in time. They are listed in reverse chronological order.





Jim Rogers, the famed investor who made a lot of money by shorting financials and buying commodities over the last couple of years has also been interviewed recently. Besides calling for the end of the Federal Reserve, he mentioned some things he's been buying lately: agriculture, Chinese stocks, overseas airlines, the Yen, and Swiss Franks. The videos are also arranged in reverse chronological order, so you can see which things Rogers has been right about and on which things he hasn't done as well.

Here's one memorable quote on the Fed's bailouts: "The patient has cancer. Giving more band-aids is not going to solve the problem."




Finally, here are a couple of videos of Ron Paul, the only member of congress who seems to know what's going on economically.