Monday, December 29, 2014
I really have to laugh when I look at The Economic Statistics
MARC FABER: I really have to laugh when I look at the economic statistics because they are published by the Obama administration, and there I would be very careful to take every figure for granted. The fact is simply that first-time home buyers in the US are now at the 30-year low. What does it tell you? That people don’t want to live in homes anymore? No. They can’t afford to live in homes anymore. That is the problem. And the whole exercise with quantitative easing has been to boost asset prices, but the bigger problem is the affordability. A lot of people are being squeezed very badly because the costs of living are rising more than their salaries and wages.
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