Marc Faber stuns CNBC anchors and guest February 10, 2010 with his comments regarding sovereign debt defaults:
I’m not interested in government or sovereign debts, because I think that all governments will eventually default, including the US.
“In the developed world we have huge debt to GDP, in terms of government debt to GDP and unfunded liabilities that will come due, and these unfunded liabilities are so huge that eventually these governments will all have to print money before they default.”
Marc Faber also body slams Dennis Kneale after Kneale questions him regarding his gloominess and forecasts in early March of 2009. Kneale, attempting to take a pot shot at Faber because of his gloomy predictions about government debt didn’t realize that Faber went boomy within a couple of days of the stock markets bottoming out, as evidenced by this interview.
Watch the interview on CNBC:
Hat tip Zero Hedge