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‘Dr. Doom’ Predicts: Investors Headed Towards ‘Massive Wealth Destruction’ – Radical Survivalism

By Becket Adams| From TheBlaze.com | On April 2, 2012

Marc Faber
Marc Faber

“Runaway government debts have triggered uncontrolled money printing,” the infamous international investor Marc Faber (also known as “Dr. Doom”) said while on CNBC.

Indeed, just look at the U.S. where the Federal Reserve has printed so much money that it has managed to expand its balance sheet by $3 trillion.

Naturally, all this printing by the Fed and other central banks has led to worries of inflation, which, of course, have led to the belief that we could very soon be looking at total portfolio destruction, according to Faber.

How bad could it be?

“Well-to-do” investors could lose about “half their total wealth in the next few years as the consequences pile up from global government debt problems,” Faber told CNBC.

“Somewhere down the line we will have a massive wealth destruction that usually happens either through very high inflation or through social unrest or through war or credit market collapse,” Faber said. “Maybe all of it will happen, but at different times.”

Watch “Dr. Doom” discuss oncoming inflation on CNBC:

And although he’s usually pessimistic towards the markets (hence his nickname) and advises investors to seek refuge in gold, “Dr. Doom” believes stocks are a “good choice” right now because central bank policies “pump up asset prices.”

He also advises investors to look into properties in the U.S. South.

“In Georgia, in Arizona, in Florida their property values will not collapse much more and will stabilize, so I think to own some land and some property, not necessarily in the financial centers but in the secondary cities, these are desirable investments relatively speaking,” Faber said.

Lastly, Faber said Fed Chairman Ben Bernanke’s policies will be “friendly toward equity investors” (for now, that is).

“I think that people should own some gold and I think that people should own some equities, because before the collapse will happen, with Mr. Bernanke at the Fed, they’re going to print money and print and print and print,” he said.

“So what you can get is a bad economy with rising equity prices.”

The original article can be viewed at http://www.theblaze.com/stories/dr-doom-predicts-investors-headed-towards-massive-wealth-destruction/

News Reporter
RSOP is the co-founder & Executive Editor of Radical Survivalism Webzine, as well as a Family Preparedness Consultant with over seven years of personal experience in the self-reliance game. RSOP's many preparedness roles within his own group include team mechanic, head of security, electrician, and project designer/engineer.