Marc Faber : The investment property market in China is a complete disaster

The investment property market in China "is a complete disaster," . "But a disaster can be postponed, and they can transfer the debts to the government." Marc Faber, publisher of Gloom Boom & Doom Report, said at the CFA Institute seminar - in The Chicago Tribune

Marc Faber : I am not a great sympathizer of the tea party movement because I think they are too intolerant

Marc Faber : I am not a great sympathizer of the tea party movement because I think they are too intolerant , look in Asia abortion is never discussed , it is not a subject that is of importance we believe it is up to the individual to decide and take personal responsibility for his life it has its disadvantages but it has many advantages , I have lived in Asia since 1973 , I think we don't have democracies in the sense of the western world but the people have much more freedom - in CNBC

Marc Faber : in America they should fire half the government including the president

Marc Faber : whether a country pays healthcare or not does not really matter because the Chinese citizens themselves put money aside that's why savings rate is high for their retirement for their healthcare for for their social security , the problem in the western world is that people set there and say Papa government will take care of me and everything , they have have abandoned personal responsibility for their actions , everything is insured , I live in Thailand I do not have any insurances If something goes wrong I have to pay myself and that's why I put reserves on the side and I pay low taxes , and so it is a different system you cannot just condemn China because they do not have healthcare that is run by the government lucky they do not have that , that's what should happen in America they should cut government expenditure precisely fifty percent and fire half the government including the president - in CNBC