The Expansion of the Debt will continue

Marc Faber : "If we look at US government debt, it reached USD 1 trillion in 1980 and in the year 2000 we were at USD 5 trillion. So between 2000 and 2011 we've grown three times and the expansion of the debt will continue," - in CNBC

Marc Faber : the debt level in the US is beyond repair

Marc Faber : " In my view, the debt level, especially in the US, if we include the unfunded liabilities of Medicare, Medicaid, Social Security and these entitlement programs, is beyond repair. And this will necessitate printing more money. Also, in my view, there is no real political will to address the issues, because who ever would cut entitlements, will not be re-elected. So we have a tyranny of the masses."
- in lewrockwell.com

The USA has lost control of its debts - (07Jan11)

The USA has lost control of its debts - Jim Chanos (07Jan11)


The USA has lost control of it's debts, with President Obama not cutting spending in any meaningful way, and the military spending and "TSA" spending - the biggest drain, continues upwards.

The question is, how much longer will China and net creditors continue to bankroll the wasteful spending, and if the USA will default on it's debts, further crippling it's economy.

You have to say, the USA has bought the predicament onto itself. They are one of a few countries that actually believe in the Keynesian Economics theory of pissing money up a wall in a recession, when you don't actually have any money. Printing money from thin air has made the situation FAR worse, and bailing out the corrupt and insolvent banks was a disaster - they should have been forced to collapse.

The UK got rid of one great fan of Keynesian economics, Gordon Brown, now the USA MUST get rid of Pres. Obama at the next election, or there will be no USA to speak of economically - no matter if they are seen still by suckers as a world reserve currency.

The reserve currency now will return to gold and silver, where it should have been in the first place. A currency back by something physical, not based on hot air and worthless promises of crooked governments and crooked bankers.

Recorded from Newsnight 07 January 2011.
And how do the people that bankroll America like China feel about having their investments devalued? Quantitative Easing will not get the US economy out of the hole they dug themselves in.

Marc Faber : Excessive credit growth caused the the financial crises

“One day when interest rates go up… the interest payments on the government debts will balloon, and in say 7 years time, the interest payments on the US government debt will be between 35% to 50% of tax revenues. Then you are in a huge mess.”

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

Marc Faber US Debt Bomb will Explode

These are the last 4 interviews of Dr. Doom Marc Faber one done today with Bloomberg and the other three with yahoo Tech Ticker yesterday , Marc Faber , publisher of the Gloom, Boom & Doom Report, talks with Bloomberg in the first video about the outlook for the stock market , Marc Faber says that 2009 was a great year to make money while in 2010 one should at least try not to lose money , Marc Faber says he will keep his gold knowing how Bernanke and Obama are printing money backed with nothing , Faber explains that printing money does not create wealth , other topics touched by the interview are
stock outlook; bonds, government debt , Asset bubbles; financial industry, Fed policy , Finally Marc Faber recommends the stocks of a beverage company from Thailand called : Thai Beverage Pcl

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Dr. Marc Faber also known as Dr Doom is an investment advisor, investment analyst and fund manager author and publisher of the Gloom Boom & Doom Report . Dr Faber is known for his contrarian investment approach. Dr Marc Faber is associated with a variety of funds and is a member of the Board of Directors of numerous companies.
he became well known for advising his clients to get out of the stock market one week before the October 1987 crash. Dr Doom motto is "Follow the course opposite to custom and you will almost be right"