Bloomberg interviews Marc Faber in June 2009, with Faber's calls on the coming period being on point.
Marc all this is predicated on the fact that you see the US in a hyperinflationary state. I mean you compared us to Zimbabwe in July 2008. Do you really think its going to be that bad, i mean really, on a scale of 1 - 10, you actually have zero confidence in the US ability to exit ?
Yes, [of] that I have zero confidence, absolutely zero. There is no political will, to reduce the deficits, and to keep money tight. And if you read all the articles that are published in the United States, and if you read the statements by mister Bernanke, they all point towards essentially keeping interest rates artificially low and at all cost to generate some inflation. Now the problem with inflation is that you can't just generate 3 or 6 % inflation, inflation is a dynamic process, and I can assure you, all of the viewers of Bloomberg, that they will this year be hit by higher contributions to the government, and higher insurance premiums for their insurance policies, and so forth, and so on... higher transportation costs. I don't know that deflation is what prices they are living by, but my prices in life, they go up.
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