Marc Faber: The Next Crash Will Be Much Worse Than 2008 … Before Then Expect More Money Printing and More War
On August 8th, 2011 Dr. Marc Faber was interviewed on CNBC about the future of the US dollar-debt crisis and what investor’s can expect to take place in the markets.
During the interview, among several timey questions, Dr. Faber was asked, "What’s the end game here? Is it the collapse of Western civilization as we know it? … Where are we going here? How must It inevitably end in your opinion?"
To which Dr. Faber replied, "You have a computer and occaissionally the computer will crash and need to be rebooted. That will happen to the global economy. So basically, the central banks are willing to do that. By printing money the problems are not solved but they can be postponed and they become larger. … The next time we have a global economic crisis it will be much worse than 2008. Before this happens there will be money printing and war."
Marc Faber, Ph.D, publishes a widely read monthly investment newsletter, The Gloom Boom & Doom Report, which highlights unusual investment opportunities. Dr. Faber is the author of several books including Tomorrow’s Gold – Asia’s Age of Discovery, which was first published in 2002 and highlights future investment opportunities around the world.
Dr. Faber describes himself as a free-market economist, but also notes that he uses other disciplines in his analysis as well. As an adviser he is not strictly speaking a value investor but uses a variety of tools. His clients, he says, expect some sort of profit on their funds every year. Simply beating market averages is not enough.
Here at the Daily Bell we are regular followers of Dr. Faber’s prescient work. In fact, Marc was interviewed at the DB recently. Here is a link to that interview: Marc Faber on 21st Century Investing, Why It’s too Late for the Dollar and Why Emerging Markets Look Good.