Monday, February 6, 2012

Marc Faber : in a bubble environment everybody wants to gamble

Marc Faber interview at the Stansberry Radio : “I’d rather lose 50% in gold than 100% in paper currencies” says Marc Faber : " a democracy everybody has to blame himself to some extent for the bad conditions that exist in government in corporate governance and so forth and so on , and the same goes with the educational system , I mean people basically accepted that you pay more and more for education , the government will pay for it and so forth and in the end of the day it all goes into the administration and not into the teaching , and also we have a bubble environment essentially since the early 1990s , in a bubble environment everybody wants to essentially gamble and nobody wants to do a serious job , so what you are lacking is essentially skilled labor ,m people who can handle and look after a machine , today a machine is very sophisticated much more sophisticated than to deal with derivative products , so there is a lack of labor in that segment of the economy , highly specialized manufacturing and there is a surplus in people who went to colleges to just English or philosophy or geography or social sciences or whatever it is , that are in today's world not terribly useful ...."


Related Posts Plugin for WordPress, Blogger...