Marc Faber :
One day when interest rates go up for whatever reason, maybe next year, or in 3 years time, interest payments on the government debt will balloon, an in say, 7 years time, the interest payments on the US government debt will be between 35 and 50 percent of tax revenues. Then you are in a huge mess.
I believe to get out of that mess they will monetize, they will have all kinds of stimulus packages that will lead to high inflation and the standards of living of the typical household, the average household, will go down. It will enrich a few people, the elite, essentially on Wall Street.
But then to distract the attention, the US will escalate its war efforts and then we will go into war in the world and then the whole thing will collapse. -
in ET Now
Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
