s*****r
发帖数: 11545 | 1 'Very Muted Growth' Coming for Next 10 Years: Faber
On Tuesday August 23, 2011, 11:18 am EDT
Both the U.S. and Europe are facing a decade of slow growth brought on
primarily by the blunders of central banks, noted doomsayer Marc Faber said.
Investors should protect themselves by buying plenty of physical gold and
putting it in a secure location, preferably outside the U.S., the author of
the Gloom, Boom and Doom newsletter told CNBC.
"If I look at the politicians both in Europe and the U.S., I don't think
that prospect (for growth) is very good," he said. "If I also look at the
entitlement system and the government expenditures and the fiscal deficits
and the debt overhang, I think for the next 10 years we'll have very muted
growth in the Western world and standards of living for the average
household will continue to decline."
In other words, he said, the next 10 years are likely to be much like the
previous decade.
"I think we never really came out of the recession in many different sectors
of the economy," Faber said. "If you look back to say 1999 to today, the U.
S. as an economy, macroeconomically speaking, is of course much worse off
than in 1999-courtesy of the Federal Reserve I may add."
Many prominent economists have joined Faber's dour outlook for the U.S.
economy, at least in the short term.
Goldman Sachs has cut its forecast for growth to 1.5 percent for the year,
and other parts of the world are experiencing slowdowns, as well.
In such a slow-growth environment, Faber prescribed a diversified mix for
portfolios-25 percent to 30 percent in stocks, 20 percent to 30 percent in
physical gold-"in a safe deposit box ideally outside the U.S. in various
locations" because "I don't trust anyone"-some cash, and up to 30 percent in
real estate, particularly in Asia.
"I think it's important in today's very uncertain world to diversify not
only in various asset classes...but also the custody of your assets should
be in different jurisdictions," he said.
Amid the turmoil surrounding markets, including the Standard & Poor's
downgrade of U.S. debt , gridlock in Washington and burgeoning European debt
problems, Faber predicted more investors would pull back positions in the
capital markets.
"Investors, kind of worldwide, trusted the regulators, they trusted the
system and they were enthusiastic about owning equities," he said. "Over the
last 10 years, the mood has changed a lot. Investors and individual
investors in particular, they don't trust management anymore. They are upset
about executive compensation, they're upset about regulators. They think
the markets are rigged and they're upset about the ratings agencies.
"A lot of individuals will not came back to the (stock) market and on
rebound they will have reduced their positions." |
|
