Marc Faber: Economy Will Be Worse Than The '20's

[Taco]

Marc Farber gives his opinion on the future of the markets and world economy. The video starts at 1:40.

Marc Faber: Worse than the '20's..Who Will Benefit the Most?
http://www.youtube.com/watch?v=J1VdKDmF7jU

[ph_visitor]

None of us, including me, your parents or anyone alive, has ANY idea what a GDP contraction of -10% feels like or looks like.

USA GDP was -4% in Q12009 and everyone thought it was the end of the world. Things are falling apart now, but the GDP is supposedly growing and recovery is under way? I don't think so.

When a GDP contraction of -10% to -30% hits the USA over a period of 3 years, all of you are going to think that Mars has collided with Earth. It will feel as though you are dying a slow, tortuous death.

It is going to be bad, so bad that none of us have any idea what is going to happen.

The best solution is to be a single male free of debt and obligations, able to travel where work is and to avoid social unrest. Mobility and a lack of physical encumbrances will be most important.