Marc Faber’s Chilling Warnings About The United States

"Faber:  “Well I think we have had in the 70’s rapidly escalating commodity prices, and in some cases they went up much more than what we’ve seen so far in the last ten years.  Of course the financial position of the US is much worse than what we had in the 70’s....

“In the 70’s, total credit as a percent of the economy was just at 140%, we’re now at 379% and we have the unfunded liabilities which we didn’t have at that time.  So I would say the financial position of the US has continuously worsened over the last 30 years.

If you print money everything will go up ... and now the money printing doesn’t go into housing because we have an oversupply of housing, but it goes into equities and for Mr. Bernanke unfortunately into commodities.  And this is lifting the cost of living of the median household, of the typical household in the US. ..."

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/6/18_Marc_Fabers_Chilling_Warnings_About_The_United_States.html