Sunday, April 8, 2012

Marc Faber : Well-to-do people may lose up to 50% of their total wealth

Marc Faber : well, I mean, I would say that well-to-do people may lose up to 50% of their total wealth, they'll still be well to do. instead of a billion, they'll have say 500 million. but I think there is a massive wealth destruction coming down the line. I'm not saying it's coming tomorrow but I think looking at the bailout and the money printing, they basically have postponed the problems and actually made them larger in the sense that the government debt has increased dramatically and somewhere a solution will have to be found for this government debt - in CNBC


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