Marc Faber Warns of Stock Market Collapse and Bubble Bulls Curse at Him - Mike Swanson (08/09/2016)
While CNBC Fast Money boys have been cheering the stock market moves of the past few weeks Marc Faber got on CNBC and warned people not to buy.
In response the CNBC anchor got a sarcastic tone to his voice to show viewers once again that CNBC is NOT about journalism or giving objective reports, but is only about stock market cheerleading and propaganda.
But the viewers don't mind, because they don't want to think or make real investment decisions. They only want to hold and be told that holding is the right thing to do no matter what.
Real investing means being diversified and not only owning US stocks and hoping they will go up for you.
George Soros has totally hedged his stock positions with puts to prepare for a crash and is long gold to make money.
Faber is trying to warn the stock market small fry who watches CNBC and goes to their website, but none of them will listen to him.
Here are comments on the CNBC website in response:
I agree with Craig Hofman below. Faber has been a broken record on this topic, and eventually he might be correct. Even a broken watch is right twice a day. But his constant alarm ringing has lost credibility as far as I'm concerned. CNBC is probably quoting him via some journalistic sense of responsibility to present a contrarian view. I wonder if Faber's being burned in a large short position.... I'd prefer he not even be quoted anymore. Let's move on and here from someone else...
You know the next crisis is imminent when CNBC is parading Marc Faber around like a clown for comic relief. I think there will be a correction like he says, not with a crash, but with a giant wave of inflation after the Fed launches QE4 to prop up the markets.
Faber seriously underestimates the power of unaudited Central Banks. They will continue to prop up the system no matter what it takes.
Alex,,,just why in helll do you and Patti Doom continue to parade this moron out every 2 to 3 weeks???? Why? He is nothing more than a short selling narcissist with no investment success. Pathetic journalism and pandering at its worst.
The thing about CNBC is that they only put Marc Faber on to get contrarian comments about the market and then they mock him.
The only thing bubble bulls watching CNBC hear are bullish talk and that's is why they love to watch.
Even the bubble bull in the comments who thinks something bad could happen to the economy believes that anything bad will just make stocks go up more - and thereby make him rich.
He wants to profit from misery and has no care in the world what that could mean to the rest of the country or what future his children and grandchildren will have.
He only thinks about his stocks going up and that is why he is a dedicated CNBC comment maker and TV watcher!
But the pure stock market bubble bulls will be ruined just as Faber predicts.
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