If I look at the politicians both in Europe and the U.S., I don't think that prospect for growth is very good. If I also look at the entitlement system and the government expenditures and the fiscal deficits and the debt overhang, I think for the next 10 years we'll have very muted growth in the Western world and standards of living for the average household will continue to decline. - in CNBC
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
