May 25 (Bloomberg) Marc Faber : ..recession in China could be a technical recession , if you go and slow down from a growth rate of say ten percent to a growth rate of three percent then there is a recession , also I do not believe in the growth rate that China publishes , because if you had adjusted nominal GDP for the true rate of inflation then real growth is of course much slower , you know I want to tell you something that disturbs me in all emerging economies and in many other developed economies , from my taste in front of luxury hotels there are far too many Ferraries and Maseraties and Bentleys and this is not a good sign , you should see depression when conditions are depressed . I see a boom everywhere except for the working class and except for the lower middle class , but among the well-to-do people the wealth that is floating around and the prices you pay for high end properties is incredible and I think that will come to an end and a lot of people will lose a lot of money and so I am ultra careful at the present time ....." Marc Faber interviewed by Bloomberg TV May 25 2011 : Marc Faber, publisher of the Gloom, Boom & Doom report, talks about the outlook for China's economy. Faber also discusses the U.S. economy and budget deficit, and his investment strategy
I agree with Pib and almost everything .In my opinion the class that are loosing now in emerging economies and in many other developed economies are the lower midle class are , because the the working class is static
ReplyDeleteI wonder what mister Faber means with "who wants to hire people with that much regulations"
ReplyDeleteDoes this mean he agrees with Walker so workers would get even less rights or what does he mean?