Marc Faber Tells It Like It Is!

"I will tell you what the US needs. The US needs a Lee Kwan Yew who stands in front of the US and tells them, listen you lazy bugger, now you have to tighten your belts, you have to save more, work more for lower salaries and only through that will we get out of the current dilemma that essentially prevents the economy from growing."
"The problem i have with the investment universe is that i find it difficult to envision how the US and western Europe can return to healthy sustainable growth without a complete purge of the financial system and some type of catalyst. Something that restores some measure of social cohesion among people; it could be hyperinflation, a complete credit market collapse, widespread sovereign defaults, civil strife, major military confrontation.”

And regarding "Occupy Wall St":
"Basically we have the Keynesians and the Democrats and I'm not saying that all democrats are equal, but they want interventions and we have far too many interventions in the western world where the share of the total economy that goes to government and is government- sponsored has grown. And that essentially makes it very difficult for the western world to grow substantially. As to that huge level of debts, i don't see how the western world, including the US, japan, and Western Europe can actually grow. They're going to stagnate. And when you have stagnation over a longer period of time, people start to ask questions and then they go after minorities. And Wall Street is a minority – they are a minority and anyone else would have done the same. They use the system. But they didn't create the system. The system was created by the lobbyists and by Washington. So they should actually go to Washington and also occupy the Federal Reserve on the way."

"Only at the Fed is there no inflation." -- Marc Faber

Marc Faber on Global Finance and Economics

This is a lengthy radio interview. Ignore the video. Marc Faber is an investment analyst and entrepreneur with a Phd. in economics graduating magna cum laude.

In this interview with Jim Puplava of the Financial Sense Network, Mark Faber talks about the impacts of many of the events unfolding right now in global finance. He answered many questions for me that have been haranguing my mind for the past few weeks and months. For example, he talks about how China will be impacted by this global financial crisis. He also talks about the consequences to the United States and the world of the current Fed policy of quantitative easing. This is a fascinating interview. It was so interesting, I kept backing it up to listen to various sections again. Not to be missed!