That headline has been the joke around here for a while, but Marc Faber says it’s the real deal:
When the Federal Reserve announces its next move on Wednesday, some expect it to reduce its $85 billion monthly bond-buying program, targeting an eventual end to quantitative easing in late 2014. Others expect the Fed to begin to reduce the program in early 2014, or to finish it off by 2015. But Marc Faber has a different take altogether .
“The Fed will never end QE for good,” the editor and publisher of the Gloom, Boom & Doom report said Tuesday on CNBC’s “Futures Now.” “They will continue because these programs, once they’re introduced, usually keep on going.”
“The economic recovery, or so-called recovery, by June of next year, will be in the fifth year of the recovery,” Faber said. “So at some stage the economy will weaken again, and at that point, the Fed will argue, ‘Well, we haven’t done enough, we have to do more.'”
We’re addicted to cheap money and artificially low interest rates. How does the Fed ween us off, when the underlying economy is suffocating from Washington’s boot on its throat?