The Always Entertaining Marc Faber on Bear Markets, US Debt and Personal Responsibility

Some highlights:

"The Treasury market is telling you that the economy is in recession. So if the bond market is telling you that the economies of the Western world are weakening, but at the same time the stock market is still relatively high, I think the stock market is vulnerable."

"The politicians are all useless individuals. Nobody is reducing the problems in the US or Europe, just putting on a band aid and postponing the problems endlessly."

"Some analysts think that there's a chance economic data will surprise on the upside but I think, if anything, it will be on the downside."

"China disappointing is a much bigger risk for the global economy than the US because the US is no longer a major commodities buyer.... If commodity prices are falling, then commodity producers will buy fewer goods from China. This is something that the world central bankers can't deal with."