Monday, July 20, 2009
Dr. Doom showed up on CNBC to talk about the prospects for either a continuation of the recent rally or a complete collapse of the financial system (Faber starts at about 1:40).
Faber: "We had a crisis and nothing has been solved ... usually, a major crisis like we had should clean the system but nothing has been cleaned. It's gotten worse politically - this linkage between politicians in America and the Federal Reserve, Treasury Department, and Wall Street. The big crisis is yet to come. It will be huge. it will be a total collapse."