1 vote

Marc Faber's Blog, Gloom Boom Doom: Monthly Market Commentary, April 2013

On Dr. Marc Faber's Blog:

"[...] It should be obvious that if 80% of the population owns just 7% of financial wealth, they will be tempted to transfer at some point in future, part of the wealth of the 5% or 10% richest Americans to the masses that have no savings.

The problems we face today are there because the people who work hard for a living are now vastly outnumbered by those who vote for a living. [...]"

Read on:

http://drmarcfaber.blogspot.com/2013/04/gloom-boom-doom-apri...



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I'm old enough to remember a

I'm old enough to remember a time when a person could save safely and earn money in real terms. Bankers were prudent, and although you'd never get rich buying CDs at least you wouldn't lose wealth. Savers once formed the foundation of capitalism - they provided the capital that powered a growing economy.

Savers now have to be investors whether they like it or not and regardless of whether they are suited for it or have the time to do it right. And investing today, as it always has been but is more so today, is shark infested territory.

Add to the risk of confiscation that Faber laments, the risk of manipulation. Powerful forces, using government protection or license manipulate PM, commodity and equities markets. We just saw the outcome of massive real estate market manipulation, and of course the bond market is maybe the most manipulated market in human history.

Today, savers are repressed and insider corporatists are rewarded. Our capitalist economy continues to suffer as a result.

I must be willing to give up what I am in order to become what I will be. Albert Einstein

Cyril's picture

An assessment which rather sucks, if correct.

An assessment which rather sucks, if correct.

Thank you, collectivism.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius