Marc Faber: Europe, UK, USA in a Colossal Mess

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Marc Faber

West in a ‘Colossal Mess’ in Five to 10 Years: Marc Faber

The debt burden in the U.S. and other Western countries will continue to increase, Marc Faber, author of the Gloom, Boom and Doom report told CNBC on Monday, leading to a “colossal mess” within the next five to 10 years.

“I think the regimes will try to keep the system alive as it is for as long as possible, which means there’s no “fiscal cliff,” there’s a fiscal grand canyon,” Faber told CNBC’s “Squawk Box.”

Faber argued that the political systems in place in the West would allow the debt burden to continue to expand. Under such a scenario of never-ending deficits, the Western world would rack up huge deficits. One day, the system would break, he said.

“Eventually, you have either huge changes occurring in a peaceful fashion through reforms, or, usually, through revolutions,” he said. The U.S. is getting closer to such a revolution, he said, as is Europe.

“I think the timeframe would be within five to ten years you have a colossal mess … everywhere in the Western world,” Faber said. “I think the deficit here (in the U.S.) — irrespective of who is in the White House — will stay above a trillion dollars per annum for at least as far as the eye can see.”

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Jim Rogers: Economic Conditions Will Worsen In 2013 & 2014

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Jim Rogers

Jim Rogers: Conditions Will Worsen in 2013 and 2014.

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Marc Faber: 100 Percent Odds Of A Global Recession

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Marc Faber: 100% Chance of Global Recession In this "Closing Bell" excerpt, 'Gloom, Boom, & Doom Report' publisher Marc Faber explains why he thinks there's a 100 percent chance a global recession is coming.

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Nouriel Roubini: Perfect Storm for World Economy in 2013!

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Roubini's Devastating Diagnosis - Freeland File

Nouriel Roubini, the NYU economist nicknamed "Doctor Doom" for his prediction of the 2008 financial crisis, believes that events are again turning against the global economy.

Professor Nouriel Roubini forecasts a "global perfect storm" in 2013 for the world economy, if five events occur:
* Crisis in Europe intensifies, recession ensues
* USA reaches fiscal cliff (tax increases and spending cuts), recession ensues
* Chinese economy slows further, has hard landing
* A slowdown in emerging markets (notably Brazil, Russia, India)
* A military confrontation in Iran

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Doug Kass Bearish on Stocks

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Doug Kass: Why I'm Bearish on Stocks Investor Doug Kass describes what he calls a "potentially toxic cocktail" of negative factors that are making him more bearish on stocks.

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Jim Rogers, War, Financial Mafia, LIBOR, Central Banks, JPMorgan!

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Jim Rogers, War and the Financial Mafia - LIBOR, Central Banks and JP Morgan!

Welcome to Capital Account. US manufacturing activity contracts for the first time in 3 years...the weak ISM data came as a shock to economists reportedly. Then orders placed with U.S. factories rose in May for the first time in three months, according to other data. We'll talk about where figures show global confidence, crises, and slowdowns are headed with famed investor Jim Rogers.

Also...Blackrock's Vice Chairman Byron Wien says he spoke to the smartest man in Europe, and what he had to say terrified him. He said, "basically, that massive amounts of debt will bring the decline of Western Civilization, but that in the meantime, before that happens, policy makers would pull every trick they could in order to stave off a catastrophic event."

Why do you have to be the un-named smartest man as christened by a Blackstone bigwig for that to hold weight? Just watch a lot of smart men and women who break this down openly any given day on Capital Account. Today, commodities guru Jim Rogers will do the honors.

And it's one, two, three strikes you're out - Barclays top three executives resign in the wake of the LIBOR manipulation scandal. Chairman. CEO. COO. Why haven't we seen this kind of fallout at big banks in the US from any settlements and scandals? We'll muse over it as what do you know - JP Morgan finds itself under investigation for manipulation of electricity markets.

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Jim Rogers: 2013 & 2014 Will Be Worse

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Where Jim Rogers Is Putting His Money If you think 2012 is scary, listen to what Jim Rogers has to say about next year, gold and China. "We had a lost decade in America we are going to have another lost decade. Next year it is going to be bad for the American economy. Be very careful. I am short stocks. I own (am long) currencies and commodities".

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Marc Faber: Europe In Recession Right Now

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Siegel, Faber on Europe & China "The ECB should ensure all the deposits of the major banks in the euro zone," says Jeremy Siegel, of the Wharton School at The University of Pennsylvania. Meanwhile Marc Faber, "The Gloom, Boom & Doom Report," shares a bearish view on China. Harry Wilson, former Silver Point Capital partner, weighs in.

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Jim Rogers on Markets, Economy, and China

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Not only is there social unrest in China, but expect to see more and greater social unrest and riots in Europe and the USA.

Jim Rogers on Markets, Economy and China (April 25, 2012) Famed investor Jim Rogers, co-founder of the Quantum fund with George Soros and chairman of Rogers Holdings and Beeland Interests, joins The News Hub to discuss his outlook for the financial markets, China and the U.S. economy.

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Art Cashin on Global Markets Gloom and Doom

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Art Cashin on the Dismal Jobs Numbers Art Cashin, UBS director of floor trading, discusses the gloom and doom descending on global markets after this morning's weak employment report, and the flight to safety in gold.

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Jim Rogers: Global Economic Shocks Coming in 2013 - 2014

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Jim Rogers: Global Economic Shocks Coming in 2013 - 2014 The G8 meeting in Camp David was focused on saving Europe from its economic nightmares. World leaders discussed Greece and its severe debt crisis, trying to figure out how to save the eurozone. The Great Recession struck the world nearly four years ago, but the aftershock is still being felt. And it's unclear when the economy will finally start to recover, and where its new center will emerge. So are there any signs of light at the end of the tunnel? RT talks to one of the insiders of the world financial elite, co-founder of the Quantum Fund, Jim Rogers.

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Marc Faber: Global Recession 100% Certainty

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More Gloom & Doom Coming? Marc Faber, publisher of the Gloom Doom & Boom Report, says a global recession is 100% certain. He expects a global recession, including the USA, by the end of 2012 and beginning of 2013 as a result of a "gigantic systemic failure".

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