Dr. Doom, also known as economist and author Marc Faber, had strong words on Friday for Ben Bernanke, calling for the Fed chairman to resign, saying he is a “counterfeit money printer” and that he “messed up the U.S. economy.”
Faber, author of “The Gloom, Doom and Boom” report, came to fame after correctly calling the stock market collapse in 1987.
Speaking with CNBC, Faber said Bernanke (left) was “one of the main proponents of an ultra-expansionist economic monetary policy that was to blame for the latest financial crisis.”
“If I had messed up as badly as Bernanke I would for sure resign,” he told the network. “The mandate of the Fed to boost asset prices and thereby create wealth is ludicrous—it doesn’t work that way. It’s a temporary boost followed by a crash.”
“This unlimited QE (quantitative easing), buying mortgage-backed securities and continuing operation twist has the implication of simply having asset prices go up and the money flows down to the Mayfair economy,” Faber added.