"With tongue apparently in cheek, he says buy a farm you can tend to yourself way out in the boondocks. And protect it with high voltage fences, barbed wire, booby traps, military weapons and Dobermans."
Hey, I've come to respect all potential black swans. According to the article Faber also said that Robert Prechter's Dow 1,000 call "shouldn't be excluded" given his track record. Prechter is in the deflation camp (see recent video comparing Dow to 1987). However, in the CNBC video below he said that all of the stimulus and money printing would be positive for equities if investors ditch Treasuries and the US Dollar, given the US fiscal situation. That could happen if inflation hits the economy and bond vigilantes invade the Treasury market (Niall Ferguson). Wouldn't Treasury Bill rolls and gold compete with equities for "real" return protection? What if it's stagflation. Also, would the risk free rate be replaced by stable US investment grade corporate bond yields, instead of Treasuries? Interesting days lie ahead!
Faber was also on BloombergTV on August 2nd talking about the Chinese Economy.
Also see Marc Faber's "Mises Circle" speech from May at the Mises Institute.