Marc Faber Spells It All Out in 6 Minutes, 4/5/2013Submitted by Cyril on Mon, 04/22/2013 - 05:12
(Sorry for the bad news) I sure hope he'll be wrong on all accounts, this time, but I'm afraid it's unlikely:
CNBC - What Happened in Cyprus Will Happen Everywhere (4/2/2013):
CNBC interview video (4/3/2013):
"You have more people that vote for a living than work for a living. I think you have to be prepared to lose 20 to 30 percents. I think you're lucky if you don't lose your life. If you look at what happened in Cyprus, basically people with money will lose part of their wealth, either through expropriation or higher taxation."
To whom it may concern:
one ought to be aware that Dr. Marc Faber doesn't exactly have the habit to speak lightly:
Don't space out. Stay aware.
I wish us best of luck.