Monday, October 22, 2012

Marc Faber : West in a Colossal Mess in 5 to 10 Years

“I think the regimes will try to keep the system alive as it is for as long as possible, which means there’s no “fiscal cliff,” there’s a fiscal grand canyon,” “Eventually, you have either huge changes occurring in a peaceful fashion through reforms, or, usually, through revolutions,” “I think the timeframe would be within five to ten years you have a colossal mess … everywhere in the Western world,” “I think the deficit here (in the U.S.) — irrespective of who is in the White House — will stay above a trillion dollars per annum for at least as far as the eye can see.” "There is no evidence that increased government spending leads to an improvement in the economy,"“My medicine for the U.S. is: Reduce government by minimum 50 percent,” “The impact would be immediately an improvement in the economy.”Faber told CNBC’s Squawk Box.


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