Marc Faber: A revolution is coming soon.

Discussion in 'Economics' started by Grandluxe, Oct 22, 2012.

  1. Published: Monday, 22 Oct 2012 | 8:46 AM ET

    West in a ‘Colossal Mess’ in Five to 10 Years: Marc Faber

    Faber argued that the political systems in place in the West would allow the debt burden to continue to expand. Under such a scenario of never-ending deficits, the Western world would rack up huge deficits.

    One day, the system would break, he said.

    “Eventually, you have either huge changes occurring in a peaceful fashion through reforms, or, usually, through revolutions,” he said. The U.S. is getting closer to such a revolution, he said, as is Europe.

    “I think the timeframe would be within five to ten years you have a colossal mess … everywhere in the Western world,” Faber said.

    Bureaucracies in the U.S., as well as Europe, are far too big, he said, and are a burden on the economy.

    “My medicine for the U.S. is: Reduce government by minimum 50 percent,” he said. “The impact would be immediately an improvement in the economy.”
  2. Bob111


    i agree,but gvt won't listen..reaction is known word about cutting future increases in teacher's salaries from 6% to 4% every single year created a s**t storm in some states.
    if they can't accept 2% cut of their future salary-imagine what will happens,if someone would talk about 50% cut of gvt workforce.
  3. toc


    it is very possible, robots are just around the corner to deal with CSR or Window or minor paper work type issues.

    the main question is that of sincere intention. that will be a human decision. :D

  4. instant depression. like happened in 1937.
  5. Bob111


    then you will have 10 bureaucrats from gvt for every robot. to write rules about how they suppose to look,what they suppose to do and control that. to me-so far it is absolutely cleat that gvt have zero intention to cut anything. forget about workforce..they can't cut salaries or benefits..
  6. Bob111


    i would rather take the pill now,than later or pass that poison to my kids..i'm ready for it..don't know about rest of country..don't care either
  7. The humane alternative to starvation is sterilization.
  8. I've been predicting the S&P would hit 1450 in 2012, and nobody from cnbc ever came to interview me
  9. what the hell kind of prediction do you have to make, just to get an interview?
  10. Dow 500 by 2019?
    #10     Oct 22, 2012