Dr. Doom Smells Big Trouble Ahead

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Speaking on the phone from Thailand, Marc Faber, publisher of the Gloom, Boom & Doom report, told Bloomberg that the Treasury market is a gigantic bubble, markets are very oversold, the Fed is “underestimating the severity of the economic downturn” and that gold is the best investment right now.

He also remarked that "The only thing I have to say, basically the market has sold off in such a rapid way and with so much momentum that I am smelling as if something really wrong happens in the next two or three months, because the market is a discounting mechanism."

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