Marc Faber Warns The Fed “Will Never End Its Insane Policies” | Zero Hedge.
“The Fed will never end QE for good…” blasts Marc Faber, “they may do some cosmetic adjustments, but within a few years, [Fed] asset purchases will be substantially higher than they are today.” There will be another weakening in the US economy, Faber warns, and “the Fed will argue it hasn’t done enough and will do more… they have been irresponsible for 20 years.”
Noting that investors should “not buy stocks but be in cash”, the stunned CNBC anchor exclaims “How could you sit in cash when th emarket is on fire and interest rates are so low?” to which Faber blasts, “The market is not on fire, look at IBM, Cisco, and Intel – all lower than 2011; it’s on fire if you are in Facebook or Twitter and not everyone owns them.”
Use rallies to reduce exposure, he warns, “we will go up until it is over; and when it is over the drop will be larger than 20%”
Olduvaiblog: Musings on the coming collapse 