Sunday, June 22, 2014
Marc Faber Warning : The Looming Inflation will be a Catastrophe
According to Faber, the Federal Reserve’s tactics have been “a catastrophe” for the U.S. economy.
“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 term,” averred Faber, who believes Fed policy has heightened income inequality, a topic that has dominated U.S. politics since the economic collapse.
“The Fed is boosting asset prices. It leads to less affordability, people can’t buy their homes anymore in the lower income group. 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