Asian-based financier Marc Faber, true to the title of his Gloom, Boom and Doom report, says this to the Australian Broadcasting Corp. Sorry to be so negative today, but the bailout's wake is bringing out the naysayers.

Obviously, if the [U.S.] Government bails out the entire system, the credit of the Government diminishes and in my opinion Treasury bonds in the US should already be rated as junk bonds. I'm sure the US Government will eventually go bankrupt. Maybe not tomorrow, but as far as the eye can see, we will have deficits in the US Government, deficits of more than $1 trillion annually.