"In every society, when you have large fiscal deficits combined with easy monetary policies … the likelihood that you will have high inflation is very, very high. And it happens very quickly.
These numbers rise so speedily because the government massively understates the country's rate of inflation, Faber said. To get a true reading, he said, people need to ditch core inflation numbers and include CPI in their analysis.
"It’s a lie what they publish. If you underweigh education costs, and if you underweigh health care costs, then you come to a totally different result." CNBC, 19 June, 2009
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world. Dr. Doom also trades currencies and commodity futures like Gold and Oil.
