Don’t this Say it All Too

Marc Faber in the 13 June 2011 Barron’s: “The world has a dual economy. In the economy of the super-rich, Bentleys and Rolls Royces and Ferraris and Porsches sit in front of fancy hotels. Quantitative easing has had a huge impact on this economy, as the people who own equities and commodities have done very well. Singapore and Hong Kong are boom towns because of quantitative easing. China has been helped dramatically by artificially low interest rates and a recovery in consumption in the U.S. and elsewhere. At the same time, the economy of the workers and lower middle class is doing very badly. Wage increases don’t match cost-of-living increases.”


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s