"I am far from certain that US equities, which have declined by about 50% from their highs, are such a a bargain. Valuations are far from where they
Posted by
Loyola
Feb 3 '09, 08:00
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they were at major market lows such as in 1932, 1974, and 1982. Moreover, economic conditions may turn out to be far worse than in previous recessions, including the Great Depression at the beginning of the 1930s. Everybody seems to think that, thanks to the government's monetary and fiscal interventions, this recession will come nowhere near the 1930s slump. However, I think it might be far worse � and precisely because of the interventions."
-Marc Faber
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