Faber is humorous, and confident, I like that.. He gives more credit to the emerging economies than I feel that they deserve. I think that he was pointing out the inevitable in that interview posted by the OP. If Socialism has never worked, anywhere, and we have Obama/Pelosi, etc. ad nauseum, in charge, it's a given that it will fail and cause economic woes in the US of A. Europe likewise.. and the EU was set up to fail at it's outset what with the common currency but individual sovereign debts, that is a double fisted failure unfolding in Europe this very day... And China, being the manufacturing arm of the USA while only the wealthy in the US [they don't shop at Wal Mart that much] are enjoying economic expansion, well, China is suffering massive unemployment, it's over 20%, and for some reason they also have inflation high enough to take out their emerging middle class..