| A big difference between the market today and that of the 1987 crash is unfunded pensions. Renowned investor Dr. Marc Faber, who holds a PhD in economics, says, “The unfunded liabilities have gone up. They did not go down. So, if in rising asset markets the pension funds unfunded liabilities go up, can you imagine what will happen when markets fall? So, they will have to print money. . . . Bear markets do not occur just because of one event. It’s a series of circumstances that lead to a loss of confidence with people exiting markets, and then with people exiting markets in a panic. . . . Fed Head Janet Yellen said if conditions would warrant further measures, the Fed would take further measures. So, she (Yellen) said . . . if the Fed thought the economy was weakening, or their beloved asset markets go down, then she may again ease and introduce QE4 (money printing out of thin air.) . . .In today’s situation, the asset market is less overbought, but the asset bubbles are everywhere. . . .Each bubble has fraud cases, and I mean massive fraud. That’s the characteristic of each bubble. There is fraud.”
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Marc Faber (born February 28, 1946) is a Swiss investor based in Thailand. Faber is publisher of the Gloom Boom & Doom Report newsletter and is the director of Marc Faber Ltd, which acts as an investment advisor and fund manager. Faber also serves as director, advisor, and shareholder of a number of investment funds that focus on emerging and frontier markets, including Leopard Capital’s Leopard Cambodia Fund and Asia Frontier Capital Ltd.'s AFC Asia Frontier Fund.
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