Faber's Take on US Debt, "We're All Doomed"

In an interview on CNBC’s Squawk Box Europe — beginning 5 minutes into the clip — Gloom, Boom, & Doom Report editor Marc Faber discusses overpaid US government workers, the lurking certainty of tax increases, and the spectacular failure of state pension fund managers who bought assets at peak prices, got out at the bottom, and now face $2 trillion in unfunded liabilities.

As the video show, Faber simply cannot imagine how the US debt problem can be solved and concludes, “It’s a total disaster, we’re all doomed… we’re doomed.”

See more in the clip below, which came to our attention via The Mess That Greenspan Made.

The Daily Reckoning