Apr 22, 2010

Marc Faber on the impossibility of driving an economic car

Either you believe that a government can steer the economy like a car, you put the brakes on and then you put your foot on the accelerator, and so forth, and you can perfectly steer it-- that is not my view. I think that governments eventually create a misallocation of capital, and measures they undertake either through monetary policies or fiscal policies or regulations, always lead to some unintended consequences.

~ Marc Faber, editor, Gloom, Boom and Doom Report, Bloomberg TV interview, April 21st, 2010

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