"The worst investment managers worldwide have been the State Pension Funds in the United States. They bought everything right at the peak and basically got out of things right at the bottom. They are now facing a shortfall in unfunded liabilities of 2 trillion dollars. When I look at the United States I cannot imagine how they can solve their problems. It`s a total disaster. We are all doomed.
In that situation you are better off in equities. I am not saying that you should buy equities today. But the dollar will go down, they will have to print a lot of money."
in CNBC Europe
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.
