Marc Faber sees weak US economy

Investment guru Marc Faber made an appearance on CNBC's Asia Market Week today.

Faber thinks that with consumer spending weakening, the US economy is slowing down. He thinks that Federal Reserve chairman Alan Greenspan's monetary policy may be behind the curve, and that the Fed may have to start cutting interest rates by next year. This reduction in interest rates would help boost Asian equities. However, he does not recommend buying US equities.

Other investments he recommends include gold, the Singapore dollar and Vietnamese property.