“I am not a great believer in this austerity that they are proclaiming. I think the fiscal deficit will actually stay very high or even increase and I think that if they decrease the fiscal deficit then it will be offset by very expansionary monetary policy, in other words monetization, so the whole burden to support the economy will fall on monetary policies, then they’ll print money like crazy."
in www.dailymarkets.com
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Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
