Marc Faber Is “Highly Confident” the Future Will Be Very Bleak: See Video on Tech Ticker – Yahoo! Finance

“The future will be a total disaster, with a collapse of our capitalistic system as we know it today, wars, massive government debt defaults and the impoverishment of large segments of Western society,” Marc Faber writes in the September issue of The Gloom, Boom & Doom Report.A statement like that pretty much speaks for itself, but it’s a bit more complicated than appears on first blush.Faber has been bullish — especially on commodities and emerging market stocks — for some time now and believes the current global recovery trade will last another two-to-three years, as discussed in more detail in a forthcoming clip. But he has major long-term concerns about the dollar’s long-term viability given rising U.S. deficits, massive unfunded mandates and the fact “we have a money-printer at the Fed.”This combination will eventually lead to runaway inflation, wholesale debasement of the dollar, and a major lowering of living standards for most Americans and many Europeans as well, says Faber, who is “highly confident” in this grim prediction.

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One Response

  1. Credit cards dont build credit.You need to OWN atsses then you will be given all the credit you ever want. Own a house, own a bank account with substantial amount in it, then and only then will you be given access to credit. The type of credit that FirstPremier offers is Baloney credit. That is HIGH FEE nonsense to cover those high risk people not paying. Furthermore, that kind of credit card they issue is part of your credit record, it show you simply dont have the whereforall to get any sort of credit, its a negitive on your record. Pay as you go, then build atsses, then credit cards will literally flow into your wallet.

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