Gloom Boom & Doom Report editor Marc Faber on Bloomberg December 1, 2009.
Historically, occasionally there were huge sovereign defaults and governments sponsored enterprise defaults. So, what we’ve seen is just the tip of the iceberg. I just maintain that we had a financial crisis in 2008. We then had stimulus packages and quantitative easing. But nothing has been resolved. It’s just being postponed.
The ultimate crisis will not just bankrupt the banking system and the financial sector as has happened in 2008, but it will bankrupt governments.
Listen to Marc Faber on Bloomberg (December 2009):
Mac Slavo Views:
Read by 53 people Date: December 3rd, 2009 Website:www.SHTFplan.com
Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.