Marc Faber Is Highly Confident the Future Will Be Very Bleak - Tech Ticker - 09-22-09

"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...

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[666Qtip666]

i agree with them except they are calling it capitalism, its not true capitalism, Keynesian economics its not free market capitalism, it is just another form of central planned economy, and that is the biggest problem. Centrally planned economies always self destruct.

[PreciousMetalsStore]

You are absolutely correct.

[harryparag]

the guy is right.

Post European crash Europe and post Tsunami Japan have already begun

[DinaStrange]

Do not take the name of the Keynes in Vain. If you don't know what u talking about, just don't say it.

[pretorious700]

Marc lives in thailand, he knows a good thing when he sees it.

[Eraser7622]

I was being sarcastic, you dirty qtip

[666Qtip666]

If you think thats true then you are an uneducated idiot. and i have no reason to argue with you.

[Eraser7622]

Precisely! Why will we never hear this on one of these news programs? Makes you think. But don't forget, Michael Moore has declared capitalism dead.. so, clearly, these changes are due to a failed paradigm called capitalism and not the fault of central bankers, corrupt government and tyrannical elites. Good think we have a socialist agenda now because clearly central planned economics is the answer to our dilemma.

Good post.