Marc Faber: " Much later F. A. Hayek, explained the consequences of over-consumption by the private and public sector: “The economy in its entirety must continue to decline so long as more is being consumed than produced, and some part of consumption therefore takes place at the expense of the existing capital stock.” I believe that misguided fiscal and monetary policies around the world will lead again to a global recession. My readers will naturally wonder what my views are about gold following the latest sell-off. What is obvious is that gold is now an unloved asset, which is badly oversold in the near-term, and which should shortly benefit from seasonal strength..."
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