Gloom, Boom and Doom publisher Marc Faber says the Fed will begin “massive” quantitative easing by October.

“The economy is not robust,” Faber told Bloomberg. “We have mixed signals, but in general, the economy is still weak.”

And despite the euro’s recovery to $1.30, Faber also says he thinks Europe is stuck in a sideways economy for years, as austerity cuts and bailouts weigh on growth.

“I am not a great believer in this austerity that they are proclaiming,” Faber said in an interview with Daily Motion.

“I think the fiscal deficit will actually stay very high or even increase," he said. "And I think that if they decrease the fiscal deficit then it will be offset by very expansionary monetary policy, in other words monetization, so the whole burden to support the economy will fall on monetary policies, then they’ll print money like crazy,” he said.

“Under a fiat monetary system you can print endless quantities of money and so stocks may adjust in real terms but not necessarily in nominal terms to the extent that the super bears are predicting.”

The global economy is headed toward a sharp slowdown this year as the effect of these measures wanes, says economist Nouriel Roubini.

“Private sector deleveraging has barely begun,” Roubini writes in todayonline.com.

“Moreover, there is now massive re-leveraging of the public sector in advanced economies, with huge budget deficits and public-debt accumulation driven by automatic stabilizers, countercyclical Keynesian fiscal stimulus, and the immense costs of socializing the financial system's losses.”