Tuesday, March 2, 2010

It looks like Dr. Doom's 2007 advice is working!

The world’s most powerful investors have been advised to buy farmland, stock up on gold and prepare for a “dirty war” by Marc Faber, the notoriously bearish market pundit, who predicted the 1987 stock market crash.

So much for his predictable "advice" from a couple of years ago:

Monday, September 10 - 2007 at 19:11
My view is that unless the Fed is prepared to accept a vicious recession it has no other option but to bail out the system no matter how unpleasant the consequences will be in the future. The problem is really that in recent years the Fed has never controlled credit growth and that the monster needs now to be fed with even more money and credit growth.

Clearly, Farber is clueless or evil, which is just the sort of person which The Times uses as sources.