#279 Marc Faber: The Asset Price Illusion Will Eventually Collapse

Dr. Marc Faber, editor of the Gloom Boom and Doom Report, provides his characteristically pessimistic outlook, arguing that while Asian economies have bottomed out, mature Western economies are turning down amid unsustainable asset price inflation. He believes the 40-year asset bubble since 1980-81 is ending and "everything will go down eventually," making preservation of capital more important than growth. Faber is ultra-bearish on all paper currencies, expects residential real estate to decline significantly, and warns the US debt situation "will end badly" - possibly through World War III. Despite being in the financial sector that benefits from money printing, he surprisingly agrees with Powell's reluctance to cut rates, arguing money isn't actually tight despite higher interest rates.

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0:00 Welcome and introduction - Dr. Marc Faber returns to the show
1:18 Big picture global economy - Asia bottomed out, mature economies turning down
7:59 Asset price inflation and monetary policy - where money flows first
13:37 Monetary Metals ad read
15:23 The illusion of wealth - from millionaires to billionaires
18:46 Housing affordability at lowest level ever in America
23:21 US debt and deficit - "it will end badly" but when?
24:50 How it ends badly - World War III is a possibility
28:48 Ultra bearish on US dollar and all paper currencies
32:12 Precious metals thesis - as long as liquidity remains plenty
36:28 Cryptocurrencies - "will go up until it won't"
38:26 Fed policy - agrees with Powell not to cut rates
41:35 Real estate outlook - residential property "very vulnerable asset"
45:11 Biggest risk and opportunity - everything will go down eventually

Links:The Gloom, Boom & Doom Report: https://www.gloomboomdoom.com