Dr Marc Faber:The PIIGS nations will be slaughtered

[Breadan O'Connor]

Economic commentator Marc Faber has stated his belief that there is a strong likelihood of the PIIGS nations(Portugal, Ireland, Italy, Greece and Spain) defaulting.


[ame="http://www.youtube.com/watch?v=zIJkArWvqu4"]YouTube- Dr. Marc Faber: PIIGS are going to be Slaughtered; January 13, 2010[/ame]



If even one of the PIIGS defaulted it would presumably greatly increase the risk premium demanded for lending to the others. This in turn could set off a domino effect among the others

[Cassandra Syndrome]

Thanks for the clip Breadon. Marc Faber is one of the few proper economists out there, plus he has got the voice of doom to boot.
And we can't print our way out of paying our debts.