Marc Faber Warns of Huge Financial Catastrophe
Marc Faber, publisher of the Gloom Boom & Doom Report, warns of a huge financial catastrophe on the way, which will make the 2008 financial crisis pale in comparison.
Faber cant predict the timing of the next crisis, but believes the stock market is going down because its discounting a very bad event. Faber says government intervention has gone so far that reducing intervention and lowering the deficit will cause temporary pain. He predicts President Obama will do anything to get re-elected, including giving out more handouts in exchange for votes.