Marc Faber: Global Economies are facing a Growth Crisis.

Marc Faber, Editor & Publisher of The Gloom, Boom & Doom Report says global economies are facing a growth crisis."If I am telling you that we had a credit crisis in 2008 because we had too much credit in the economy, then there is that much more credit as a percent of the economy now," Faber said"So we are in a worse position than we were back then," Faber told CNBC Asia's "Squawk Box.""Look at China, its credit as a percent of the economy has increased by 50 percent in the last 4-1/2 years. This is the fastest credit growth you can imagine in the whole of Asia," he added.

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.