US on a hiding to nothing

摘要

PREDICTING THAT THE US dollar will be worth 'zilch' within six months, Marc Faber of Marc Faber Ltd advised his audience at last month's Mining Indaba 2008 in Cape Town to guard against volatile financial markets by buying a farm and learning how to drive a tractor. Faber argued US monetary policies, which have left the country with a negative net asset balance of about US 4 dollar trillion (almost 30 percent of its GDP), will further damage the US economy as the country's government continues to reduce interest rates to stave off a recession.