"This is the point I'd like to make. All of these professors and
academics at the Fed who never really worked in the private sector a
single day in their lives, and write papers nobody reads and nobody's is
interested in. Why would they want not write about how you structure an
economic system that lifts the standard of living of most people? You
can't lift everybody."
"We had that in the 19th century in the U.S. because we had very
small government at the time. The entire government -- local, state
federal -- was less than 20% of the economy. Now it is close to 50% of
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.