First of all, we can expect money printing until sovereign governments go bankrupt.
"The ECB will print money one way or the other and the debts that should be written down to a realistic value will continue to be carried on the books of banks at unrealistic values so the end crisis will be postponed until the sovereigns go bankrupt."
Stocks will outperform government bonds in this money printing environment.
"I think that we are in a very difficult situation and governments don't want to recognize that. And so the fiscal deficits are out of hand. But it doesn't mean that stocks will go down when you print money, everything goes up at different times, different asset classes. I think that stocks may continue to go up and I rather own equities than government bonds for the next ten years."
Marc Faber sees a trading range on the S&P between 900-1350 with no new highs on the horizon.
"I think that the super bulls and super bears will be disappointed that we're in a trading range of 900 on the S&P and 1350, something like this. I don't think that we will make a new high above the May 2nd high on the S&P."