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Marc Faber sees a total collapse coming
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."
3 comments:
Does he have to smile and laugh so much when he talks about how huge the collapse is going to be. That kind of freaks me out...........
You've got to hand it to Faber, he called the March bottom just about dead-on.
So Faber is calling for a inflationary depression that will keep stocks where they are, raise bond yields along with gold, and pretty much whiplash the economy?
Love the blog Tim, been a fan since forever. Great blogging!
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