Marc Faber: Continuing Financial Crisis Must Be Endured | Middle East Investment Conference

Marc Faber: Continuing Financial Crisis Must Be Endured | Middle East Investment Conference

Marc Faber, editor of “The Gloom, Boom and Doom Report,” kicked off the CFA Institute  Middle East Investment Conference by quoting Ernest Hemingway who said, “The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring permanent ruin.” On this downcast note, Faber attacked short-term Keynesian spending and reviewed the implications for investors of the accelerating shift of world economic and political power from the developed countries to the developing world.