Marc Faber: If The U.S. Was A Corporation, Its Credit Rating Would Be Junk
Marc Faber discusses America's unsustainable debt load in this interview with Margaret Brennan on Bloomberg TV. An amusing observation: the GDP growth from each $1 of new total debt has dropped from $0.25 to -$0.60. Also some much deserved Bernanke and Krugman bashing. Why it is so difficult to realize that the only way out of the crisis is to cut corporate and sovereign debt, we don't understand. Ah yes, because for that to happen, equity values across virtually all of the US economy would be wiped out... And that would destroy the myth that there is any real equity value in America.
Full Faber interview.
via Gurufocus, h/t Mike