March 11, 2012

Marc Faber: Chinese Government Statistics Are Fake

Marc Faber gave an interview to Abu Dhabi based Alarabiya TV where the editor and publisher of the Gloom Boom and Doom report said that China has no growth right now. Chinese government statistics are fake and if Chinese economy slows down more they will print more. Chinese government economic figures are meaningless, because they are manipulated, which confirms that there is no economic growth in China this year in fact China’s production of steel, cement and electricity as well as the volume of its exports and car sales are stable or declining compared to last year, which is incompatible with the growth announced by the government Marc said. China is headed towards a slowdown.

Marc Faber confirmed the 25% hike in the S&P in October and November last year happened despite a very low trading. I am watching the markets right now and not doing anything, I think the markets should correct, I believe investors should not hold 100% of their assets in paper.
Regarding Gold . Marc Faber says : Gold is in a long term correction, the Euro will be saved but not all the Eurozone countries will be a part for the EU, some of them will be evicted and will be in big trouble because of their currencies.

Note: The Video Embedded Below is in Arabic Language.

Marc Faber is a great contrarian investor and publisher of the Gloom Boom & Doom Report. He is well known for his accurace predictions of stock market crashes and other correct calls on different investment assets.