Marc Faber on CNBC

  • We have too much debt in the West that needs to be paid down or no growth.
  • We lived beyond our means since the 80s now its payback period.
  • There will be an eventual “reset” of the Global Financial System.
  • The Governments will avoid instigating he “reset” and will happen because of either currency collapsing or markets imploding.
  • When it does we will be lucky to have 50% of the asset values that we have today.
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