Faber: US, Europe Getting Closer to Revolution

Key talking points:
  • Borrowing for consumption purposes is counterproductive, borrowing for infrastructure can be a good thing.
  • Within 5-10 years the [Western] “system breaks”.
  • Asian crisis was unlike next Western one will be, due to “new Keynesian” response.
  • Most Fed members make Bernanke “look like a hawk”.