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Tuesday, June 29, 2010
Marc Faber : The US National debt is already 600% of the GDP
"According to my calculations it is impossible that the American government can fulfill its obligations because the current deficit is over one trillion , this year 1.6 trillion , And that will not come under one trillion and that increase the national debt .The Total debt is already 375% of the GDP , but that does not still include the not yet covered debts of medicaid medicare and social security, if you would include it then the national debt is already 600% of the GDP , So they have to massively print money in the future that will lead to an inflation and recession in the same time , so they might get into a depression and synchronized an inflation as they have in Zimbabwe , The result will be that they will intervene in a war - and the americans are good in finding enemies around the world , That will end in a big conflict and the whole system will collapse" This scenario won't happen tomorrow but in the next 5-10 years guaranteed Marc Faber added
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