Friday, August 8, 2014

Marc Faber on Bailing out Main Street, not Wall Street

Marc Faber on Bailing Out Main Street- The People's Bailout

Regarding the People's Bailout, Faber told us that he’s against money printing because money doesn’t flow evenly to the system, thereby not benefiting everybody to the same extent. He claims this creates very significant divides in wealth and income inequality. But what concerns him the most is debt forgiveness upon people acquiring debt and the Government bailing them out, which creates moral hazard. People go on asking for more and larger loans and become not willing to pay them back, expecting instead the Government to repay their debt.

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.

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