Marc Faber and Mish : the collapse of civilization has already begun

Faber and Mish : We are Doomed - US is destined for failure

Washington lawmakers are a delusional bunch of boneheads, say Marc Faber and Mike "Mish" Shedlock, editor of the Gloom, Boom, and Doom Report and investment advisor at SitkaPacific Capital Management, respectively
"I Think It's beyond repair ,it's too late," Says Marc Faber " and the deficit I said this a year ago that the fiscal deficit will stay above a trillion dollars , I think it is likely that it will stay at a much higher level than a trillion dollar for he next ten years " Marc Faber added "The government debt will go up , what will happen is that they will have to monetize it and then eventually interest rates will be much higher than the interest payments on the government debt as a percent of tax revenue will go up substantially and then you are in in disaster , but the government and there I agree with Stiglitz it will not default and say we won't opay , may be they will do that to foreigners , but before they'll do that in my opinion they will just print money " Marc Faber explains
Mish agrees: "but the question is when that matters " he says and what are the deflationary inflationary forces in the meantime....
Marc Faber is convinced that the collapse of civilization has already begun , Marc Faber explains that yesterday at the Chicago airport he was asked for an ID card when he ordered a beer " I certainly do not look less than 20 years old , the message is clear here , you can see here how totally out of control the regulations have become " Marc Faber says
Faber advices to accumulate slowly some gold , own a property outside the major cities , cause the major cities have become very dangerous in terms of modern warfare