Tuesday, October 11, 2011

Macr Faber Interview (CNBC) 10/11/11

A cheery Marc Faber is interviewed by the sourpusses at CNBC. His "blond" joke falls flat, but he quickly gets down to business. Faber doesn't see how healthy long-term growth is possible without a deep "purge." He sees the possibility of social unrest. He likes a flat tax to reduce restrictive regulatory policies.
Some quotes:
"The lack of savings is the problem of the United States"
"Listen you lazy buggers...Now you have to tighten your belts"
"I don't see how the Western world including the US, Japan, and W. Europe can grow. They're going to stagnate."
"Nobody wants to work in the UK"
"Governments in the western world have grown like cancer and now they are trying to protect themselves"
"The protesters should occupy the Federal Reserve!"

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