“Such a crisis could begin in the second half of the year, he tells CNBC. One problem is debt. Total credit — including government, corporate and consumer debt — as a percentage of GDP is 30 percent higher in advanced economies than in 2007, Faber explains. This isn’t exactly blissful news for the economy. ‘I don’t think that is the economy recovering at all. We have in the emerging economies a slowdown, export growth is nonexistent.’ Geopolitics aren’t helping things either, he adds, citing turmoil in Ukraine and the South China Sea. So what can central banks do? ‘They have something left — that is to throw even more money down the drain,’ he argues.”
http://www.moneynews.com/InvestingAnalysis/Faber-economy-financial-crisis/2014/05/08/id/570234/
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