Written by Marc Faber - GloomBoomDoom.com and The Economist Intelligence Unit ViewsWire | Friday, 15 May 2009 07:47
"While not an optimist on the Chinese economy near term – Marc Faber likes Asian currencies, and banks ex-Japan."
From The Economist Intelligence Unit ViewsWire today:
"China's first-quarter economic data, which showed 6.1% year-on-year GDP growth and a significant acceleration in quarter-on-quarter expansion, triggered a flood of reports suggesting that a sharp V-shaped recovery is under way. With the release of April's more mixed data, however, the celebratory champagne that was being poured has gone a bit flat. It's now clear that the economy still faces huge challenges, and in the second half of the year the acceleration in growth is likely to be gradual rather than explosive. The Economist Intelligence Unit continues to hold to its below-consensus forecasts of 6.5% GDP growth in 2009 and 7.3% in 2010."
but......
Marc Faber on Armageddon
A vintage performance from the author of "The Gloom, Boom & Doom Report". This morning – living up to his reputation for bearishness - Marc Faber forecast a litany of unpleasant events ahead.
His key message is: buy real assets. He thinks it will take years for the global economy to recover, but when it does the effect of governments' printing money will ultimately reignite inflation. (more)
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