“In the context of all the default that will happen in the world, Dubai is not a big thing. But it’s a reminder that governments can default.
Eventually, I suppose a lot of governments will be bust, including the United States. Nothing has been resolved, it’s just being postponed. The ultimate crisis will not just bankrupt the banking system and financial as happened in 2008, it will bankrupt governments.”
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.
