Marc Faber Is Back: "It Will End Badly... We're In A Worse Position Than 2008"by Tyler Durden
Nov. 12, 2013
UK: Muslim Teacher 'Told Class Charlie Hebdo Victims Should be Killed for Insulting the Prophet'
Knockout Game In St. Louis: White Man Viciously Beaten 'For No Apparent Reason'
Canadian State TV Hails 'Beige Horizon' With No White People
'Kick Them Out Of Our County': Geert Wilders Shares Shocking Vid Of Migrants Rioting In The Netherlands
With Carson Pick For HUD, Trump Makes Good On Promise To End Obama's Forced 'Diversity' Scheme
"It will end badly," Marc Faber explains in this brief CNBC clip, "the question is whether we will have a minor economic crisis and then huge money printing or get into an inflationary spiral first." If you thought that "we had a credit crisis in 2008 because we had too much credit in the economy," then Faber notes "there is that much more credit as a percent of the economy now." Of course, as Bill Fleckenstein recently noted, as long as stocks are rising, investors remain blinded by the exuberance, but as Faber concludes, "we are in a worse position than we were back then," and inflation is already here...
On China's explosive credit growth:
"Look at China, its credit as a percent of the economy has increased by 50 percent in the last 4-1/2 years. This is the fastest credit growth you can imagine in the whole of Asia,"On the inevitable endgame:
"It will end badly and the question is whether we will have a minor economic crisis and then huge money printing or get into an inflationary spiral first,"On the hidden inflation impacts around the world:
"Why are so many product prices in Singapore and Hong Kong more expensive than in the U.S.? It's because when you have asset inflation and high property prices, shops have to pay higher rents, so they charge more for their products. So asset inflation can flow into consumer inflation,"