BUSINESS
11/25/2009 05:12 am ET | Updated May 25, 2011

Marc Faber: Capitalistic System Will Collapse, "Future Will Be A Total Disaster" (VIDEO)

In this month's issue of The Gloom, Boom & Doom Report, Marc Faber issued one of the gloomiest, most depressing takes on the financial crisis and its impact. Faber said that the future, "will be a total disaster, with a collapse of our capitalistic system as we know it today, wars, massive government debt defaults and the impoverishment of large segments of Western society."

Keep in mind this is coming from a man who writes something called "The Gloom Boom & Doom Report." But Faber's analysis, however macabre, is widely followed. He upheld his prediction in an interview with Yahoo's Tech Ticker, arguing that, with the government's stimulus package, "the problems haven't been solved, but they've been postponed."

Faber added that he has a "high confidence prediction" that "total collapse will come." Yikes.

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