Dr. Doom sees no credit bubble in China

Contrarian economist Marc Faber is cautiously optimistic on the outlook for China, saying he sees few signs of a mismatch between supply and supply in the real estate sector, while its fiscal policies don't appear to be repeating the mistakes made by Western counterparts.

Still, stocks, including those in Asia could be under pressure for the rest of this year, falling perhaps as much as 20% as the U.S. dollar rallies amid resurgent fears of deflation fears, Faber was cited as saying by Bloomberg News in an interview Friday.

Longer term, though, he thinks high-quality stocks are one of the places for investors to take refuge from the affects of currency debasement and what he says is the inevitable inflation that will result from central bank's money printing.

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- Posted: 2009-09-28 10:14:22

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