the infamous bear market purveyor who correctly forecast the 1987 market correction and was one of a handful of analysts who were ignored when they warned everyone about the recent impending worldwide economic meltdown. Speaking in Tokyo in front of 700 of the most influential fund managers on the planet, Faber spelled out what’s coming up next, perhaps very very soon and it’s not unicorns and rainbows. Towards the end of this administration’s term, he forecasts the United States declaring bankruptcy, a dirty war between the U.S. and China, concerning resources such as oil, gypsum and fresh water, civil strife and disruption in major U.S, cities.
He advises people to move out of cities, buy working farms with good water supplies and buy lots of precious metals, as currencies worldwide will ultimately fail.
He also predicts the internet will crash repeatedly,too, so that iPad you’re planning on getting may ultimately be a very expensive pillow, rain hat and serving tray while waiting on soup line.
Have a nice day!