Marc Fabers - Western World Will Be in a Colossal Mess Within Five to Ten Years

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Oct 22, 2012
A few observations from Faber:

- The regimes will try to keep the system alive as it is for as long as possible, which means there isn’t a fiscal cliff, there’s a fiscal Grand Canyon.

- Eventually you have either huge changes occurring in a peaceful fashion through reforms, or usually through revolutions.

- The time frame would be within five to ten years, everywhere in the Western world.

- The deficit here (in the U.S.), irrespective of who is in the White House, will stay above $1 trillion per annum for at least as far as the eye can see.

- "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.”