Tuesday, June 24, 2014
Faber : Fed Policy Worsening Income Inequality
"It's a catastrophe," he told CNBC. "What the Fed has done is to lift asset prices, and the cost of living. In the meantime, the cost of living increases are higher than the wage increases. The typical American household income is going down in real terms."Faber says Fed policy is worsening income inequality. "The Fed is boosting asset prices. It leads to less affordability, people can't buy their homes anymore in the lower income group," he said. "The more they print, the more inequality there is, the weaker the economy will become."
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.
Posted by Nicole Bourbaki