No revival in US; big economic crisis ahead: Marc Faber

The US markets ended lower for the second session yesterday on the back of mixed global cues and disturbing job loss data. Does this mean we’re still not out of the woods? Marc Faber, Editor and Publisher of the Gloom, Boom & Doom Report feels nothing has been solved in the US in the last 6-9 months and that a big economic crisis was still to be seen ahead. “The policy makers in the US, are still in-charge and if you look at what has happened in the US over the last 6-9 months, nothing has been solved. It has been postponed through fiscal and monetary measures, precisely the measures that brought about the crisis in the first place. So enjoy your ride in asset classes as long as it lasts but I think we are seeding the next crisis and it may happen in the next three months, maybe tomorrow, maybe five years, maybe only in 10 years but I think the big crisis is still ahead of us.” He said that the markets were overbought and that the economic news was still not good.