When asked for his opinion on President Obama in a Bloomberg interview, Faber called him “intellectually dishonest,” and stated that ”I think he’s done a horrible job and I think that will continue, I think he is a dishonest person, and nothing has changed… Some politicians are more honest than others. I don’t think that I have a very high regard for politicians, I have a high regard for businessmen and for people who work, and not for people who abuse the system continuously. And in comparison to other politicians, I think he came in on a platform as a president that would want to change the government in Washington, and actually he’s made it worse.”
He went on to say that “We foreigners, we just laugh at someone like Mr. Obama. I was very critical of Mr. Bush, but at least he had one line and he stuck to that line, and at least he set out to do a thing and he was relatively straight on the thing that he did. He may have been wrong, but at least he didn’t change his mind continuously, and didn’t prostitute himself.”
Dr. Faber is still a long-term gold bull, although he does expect an all-out correction in the metal. A full 10% correction would take the metal to about $1,280. Dr Faber's feared 20% would result in a price of about $1,140.
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