Marc Faber of the Gloom, Boom & Doom Report says that the U.S. is headed for major trouble in the long term because of the impending implosion of the dollar — but in the short term, he’s buying stocks, reports Yahoo! TechTicker.
Faber, one of the few to see the credit crash coming, says that with interest rates so low, investors should be buying up assets like stocks, commodities, and real estate in the next two or three years. As the dollar plunges, he says cash and U.S. government bonds will become “worthless”. In terms of stocks, he likes gold mining companies and oil and natural gas firms. He also mentions some U.S. healthcare sector picks, though he says that he’s generally higher on overseas equities than U.S.stocks. (Thanks to me98321 for posting this clip.)
In another segment of the interview, Faber says that Kenneth Fisher’s recent claim that the U.S. is under-indebted — which we highlighted here — is wrong. Click here to see that portion of the interview.