Monday, June 30, 2014
Marc Faber : The Fed Making The Rich richer & more income inequality
For over 5 years we have been explaining the hole that the fed has been digging (most ironically here). This morning’s op-ed by Warsh and Druckenmiller highlights many of the problems but we leave it to Marc Faber to succinctly sum up the dilemma that the Fed faces (and by dilemma we mean, the plan) – “The more they print, the more inequality there is, the weaker the economy will become.” Simply put, “it’s a catastrophe,” Faber 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.” Recovery?
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 Biz TV