That’s according to Dr. Marc Faber – also known as Dr. Doom. He’s an economist and trends forecaster, with his own research organization at gloomboomdoom.com.
He publishes a report and describes its purpose this way:
The Gloom Boom & Doom report aims, based on economic, social and historical trends, to warn investors when investment themes have become widely accepted and are, therefore, highly priced and risky, while it continuously searches for opportunities in unloved and depressed markets.
So, he’s not exactly looking for doom. He’s just looking for opportunities to benefit from doom – or at least bad news.
It’s in his best interest, and the best interest of his readers and those who consult with him, that he get this ‘doom’ right. So far, it seems that he’s got a good enough track record to be invited to Barron’s 2012 Roundtable – and that’s a pretty good endorsement.
So, World War 3 within five years.
And, I agree.
Doctor Doom Warns: “World War III Will Occur In the Next Five Years”
Mac Slavo, January 17th, 2012, SHTFplan.com
Well known economist, trend forecaster and Gloom, Boom and Doom Report publisher Dr. Marc Faber joined some of the world’s leading investment minds at the Barron’s 2012 Roundtable to discuss what’s in store for 2012 and beyond with respect to the economy, inflation, political stability and a host of other issues.
As is generally the case, Dr. Faber doesn’t mince words and warns that, despite what happens in the near term, the end game is global conflict.
Marc Faber: On another optimistic note, World War III will occur in the next five years. That means the Middle East will blow up. New regimes there will be less Western-friendly. The West has also figured out it can’t contain China, which is rising rapidly and will have more military and naval power in Southeast Asia. The only way for the West to contain China is to control the oil tap in the Middle East.
Bill Gross (Founder, Pimco): How does your World War III hypothesis affect the financial markets? Is it positive for stocks?
Marc Faber: It is very positive for stocks and negative for bonds, because debt will grow dramatically. There will be massive monetization of debt. When the U.S. entered World War II total credit equaled 140% of GDP, and there were no unfunded liabilities. Now total credit-market debt is 380% of GDP, and unfunded liabilities make that 800%.
Dr. Faber has also expressed his views on prior occasions, suggesting that World War III is an inevitable outcome when nations begin to default on trillions of dollars worth of debt (whether by refusing to pay or simply easing their monetary supply).
In August of 2010 Faber urged his subscribers to begin making preparations for worst case scenarios:
In his latest GBD Report, Faber again advises those with the means to do it, to leave urban areas and seek safety in rural, country areas, preferably farms, and to be prepared to defend that land in the event the worst happens:
Um… you might want to treat that last bit seriously. In yesterday’s post, someone recommended a good shotgun.
Get one of those, too.