More gloom from the always-cheerful Marc Faber.
Bloomberg: Prices may increase at rates “close to” Zimbabwe’s gains, Faber said in an interview with Bloomberg Television in Hong Kong. Zimbabwe’s inflation rate reached 231 million per cent in July, the last annual rate published by the statistics office.
“I am 100 per cent sure that the U.S. will go into hyperinflation,” Faber said. “The problem with government debt growing so much is that when the time will come and the Fed should increase interest rates, they will be very reluctant to do so and so inflation will start to accelerate.”
You can find the whole video interview here. Early on he’s asked whether he ever talks to Nouriel Roubini, and what he makes of the other Dr. Doom’s slightly more optimistic attitudes towards the economy. Faber says he reads Roubini but doesn’t talk to him, before creepily adding with a huge grin that they go to different nightclubs.
Meanwhile, we’d like to thank a reader who sent us the following picture of himself holding $180,081,500,000,000 in Zimbabwe dollars. This could be you, folks!