Marc Faber: "The Best Thing The Fed Could Do For Markets Wold Be To Collectively Resign"

Zero Hedge ^ | 080911 | Tyler Durden

[Fred]

In a Bloomberg TV interview following today's quixotic "QE3/non-QE3 announcement, which is Operation Twist 2, but not LSAP, and ushers in economic recession, even as it sends risk assets soaring, and somehow pushes the 2 Year a whopping 20 bps tighter so buy,buy, buy" and is really very much ado about nothing, the always outspoken Marc Faber had some very choice words about life, the universe and especially the residents of the Marriner Eccles building.

While there still appears to be some confusions as to whether today's Fed decision to peg rates at zero for 2 years is QE3 or not, Faber believes that the decision to not enact more Large Scale Asset Purchases is "the right thing" although when it comes to the market, it "is more likely to move still lower. We are very oversold. We can have a rebound like we did today, maybe we'll have a rebound next week or so, but in general I think we will test the July lows of last year, the S&P at 1,010. After that, probably we'll get probably a QE3 announcement."

[BobP]

Hear! Hear!

 There once was an unknown man
 with a new Marxist plan
 I'll distribute your wealth
 and give you free health
 But the debt soon hit the fan

Obama owns this shovel ready mess. Wise money has been running like rats from a sinking ship from Obama's first day. Every day he brings more damage to the country.

The winning rule in 2012: a direct and non-stop political attack on Obama's record!

Zer0 knows what he is doing, and he is having a great time doing it. The game played by the Marxists is war where the end justifies the means. No matter how it's dressed up, it's an assault on America's freedom.

Countdown until Obama leaves Office: 529 days as of August 9, 2011.

[familyop]

International bankers who fix currencies to continue trade imbalances should resign. Global business interests should resign from my country.

[SunkenCiv]

Yeah, good idea.

Then Obama could appoint ALL the replacements, and they’d be facing a downhill confirmation in the Demwit-controlled Senate! Cool!

Thanks Fred.