Marc 'Dr. Doom' Faber says ‘we have a bubble in everything’

• Marc Faber says even if the S&P 500 dropped 20 percent, it still would not make him bullish on the U.S. stock market.
• "We have global debts as a percent of global GDP that is 30 to 40 percent higher than it was in 2007," the editor of The Gloom, Boom & Doom Report tells CNBC.

"We have a bubble in everything," Marc Faber, editor of The Gloom, Boom & Doom Report, told CNBC on Wednesday.

Faber said even if the dropped 20 percent, it still would not make him bullish on the US stock market.

"We have global debts as a percent of global GDP that is 30 to 40 percent higher than it was in 2007," he said. "All of us and I also own lots of assets, we're going to lose 50 percent. Either the government will to take it through taxation or expropriation or there'll be a deflation in asset prices that is surprising most people on the downside."

On CNBC's "Fast Money Halftime Report," the man known as "Dr. Doom" recommended U.S. Treasury bonds, corporate bonds in Europe and emerging markets.

"I would rather invest in Europe, ... where valuations are lower and where the economy seemingly is improving," he added.

Faber noted that foreign markets have "way outperformed the U.S." this year, and he believes it will continue.