Marc Faber : "Unlike the '50s and '70s when there was relatively less overall debt, a financial market crash did not inflict great damage on the economy. Debt levels are significantly higher these days, and so a market crash can inflict serious damage on economies. We've gone through a period of huge asset inflation, in stocks, bonds, commodities, and real estate, and we essentially now have in the world, a huge asset bubble. So everything is grossly inflated." - Marc Faber said at the CLSA Investor Forum
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.