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Sunday, September 29, 2013
I am not so surprised by The FED no Tapering Decision
"When the Fed began Quantitative Easing 1 (QE1) in 2008, I said it would continue until QE99. So I'm not so surprised by the "no tapering decision." But this money printing has numerous unintended consequences and actually does not help the economy much. Asset purchases benefit maybe 1% of the population, the super-rich.
I'm not complaining because I own stock, bonds and real estate, but from a social point of view, it's undesirable because it creates widening wealth inequality and dissatisfaction among the majority of voters.
This could lead to more votes for a populist leader who will then tax the wealthy more heavily.
- Faber said at Sprott Resources Round-table
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.