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Slideshow: Apocalypse How? Dire ’12 Forecasts

By Ben Steverman - 2012-01-14T03:12:30Z

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John Mauldin

John Mauldin, president of Millennium Wave Advisors, says Europe will "fall apart" in 2012. After Europe and then Japan struggle with their fiscal problems, "the U.S. is going to have to deal with our own issues," he told Bloomberg Television on Dec. 20. "We've got a cancer. That cancer is debt," he added. "The longer we take to solve this problem, the more difficult it's going to be." It will take four to five years for the developed world to get out of its debt mess, he said.

(Left, supporters of republican presidential candidate and former Massachusetts Gov. Mitt Romney stand next to a national debt clock during a rally in New Hampshire.)

Photograph by Justin Sullivan/Getty Images