Marc Faber denounces the focus by the media on unimportant issues on his latest market newsletter,
"The liberal media has successfully brainwashed the public into accepting Keynesian and political interventions as desirable."
Stating Historical Facts can make one seem politically incorrect,
"Today's politically correct society prefers to waste its time with tearing down important historical monuments that are a reminder of our history, even if it was not always glorious. Important issues such as how we are going to resolve the problem of excessive debts and enormous unfunded pension fund liabilities, etc are ignored or neglected."
Another issue with today's media and sentimentalization is the media often jumps to use any content or statement without taking into account the full context. Marc Faber in a statement to MarketWatch adds,
"If you have to live in a society where you cannot express your views and your views are immediately condemned without further analysis and analysis of the context in which [they’re written]—if you can’t live with that, then it is a sad state of where freedom of the press and freedom of expression have come."
Marc Faber may be getting more Bullish on China according to the Financial Express,
"I think if you look at the major markets here in Asia, India and China, India is up close to 30% in dollar terms, and China hasn’t gone up a lot. So, I think some money will be taken off the table in India and move into China.
Speaking specifically about his positions. I also increased my positions in China."
Marc Faber warns in his October 2017 newsletter Gloomboomdoom report of the bubble like similarities between 2000 and today. When the current bubble bursts, it will be much severely felt by investors than ever before.
" The April 3, 2000 edition of Forbes Magazine, which unintentionally presaged the NASDAQ's worst week in its history, published an article entitled, ‘Ramp Champs: The Best-Managed, Fastest-Growing Tech Companies in the World.’
A month later these stocks had already declined by 66% from the early 2000 highs, and at the October 2002 low, the NASDAQ 100 Index had declined by 83% from the March 2000 high.
The 2000 NASDAQ collapse - because of its narrow scope - did not cause widespread economic or financial hardship. This cannot be said of the current all-encompassing asset bubble. Whenever it will burst, the economic damage will be considerable all around the world as well as the capital losses to asset holders as there are hardly any places to hide. "
