Faber does not think the U.S. market is going to go up from here; rather, he sees significant downside risk.
He thinks the European crisis is going to impact corporate profits in the U.S. because 40% of corporate profits come from overseas.
Faber was asked why gold isn't performing better in such an "easy-money" world. His explanation is that the money does not flow evenly; he thinks a lot of that cash has gone into equities.
Faber's main concern is that the easy money world is setting us up for a global crisis from which there will be no asset class to hide in, including gold.