Marc Faber, in an excellent analysis during a CNBC interview (video below), lays out the current economic landscape. For example:
US and Europe can not grow without debt cleansing
Protesters should go after Congress & lobbyists, not Wall St
Regulations impede initiative – net investment in US has dropped for 20 years
Investments have gone overseas, less and less investment in US
Lack of savings is problem of USA
USA needs someone to stand in front of them and tell them “listen you lazy bugger, you have to save more, and work more for lower salaries”
The rich are coddled in the US
Governments in US have grown like a cancer, and they stay in power – Obama has no clue, jumps on Occupy Wall St crowd because he can pick on minority (Wall St) and “buy” votes
I personally like when someone speaks the truth without BS, and without coddling the listener. Most people are telling Americans to blame someone else and that problems will be fixed. They won’t be fixed – we have too much debt and too many disincentives and MAL-incentives. people are motivated to do the wrong thing by government policy (make more not working), by interest rate policy (borrow too much and take too much risk) and by changing ethics (don’t take responsibility – it’s cool).
Faber is saying the opposite…
