FABER: 44 Charts That Show Why The World Is Doomed…Prepare to have your holidays ruined.
Nov. 23, 2012
Marc Faber, publisher of the Gloom Boom & Doom Report, is well known for his ultra-bearish commentary.
But he’s not without reason.
In a new presentation given in Hong Kong to the London Bullion Market Association, Faber offers a thick stack of 44 charts that makes him very bearish on the global economy (via ZeroHedge). They include overviews of the emerging and evolving trends on debt, trade, stocks and commodities.
Faber points to the explosion of public and private debt and how they have been far outpacing GDP growth for the last 50 years. In this backdrop, the wealth gap between younger and older Americans have been widening.
Overseas, China has seen its economy boom on expansionary monetary policy, which has turned the world’s second largest economy into a giant credit bubble.