Marc Faber on Tech Ticker Yahoo Finance America has Way Too Much Debt

America has mortgaged its Future

Marc Faber disagrees with economist Ken Fisher's argument that America is "under indebted about the debt of America while Fisher argues that America is "under indebted" and that more debt will be a global phenomenon in the next 10-20 years , Marc Faber replies by saying : More debt "comes at the expense of a falling dollar...and much higher inflation rates in the future," Faber also adds that the America has total debt-to-GDP ratio of 375%, "excluding contingent liabilities from Medicare and Medicaid."
Faber says much of America's debt has gone to pay for unproductive things like golf courses and big houses and investments with Bernie Madoff
"The Western world is overleveraged," he continues saying . "We've mortgaged the future and our children will have to pay for that somehow."