The US needs a Lee Kuan Yew

Marc Faber : I tell you what the u.s. needs. the u.s. needs a Lee Kuan Yew who stands in front of the u.s. and tells them, listen you lazy buggers , Now you have to tighten your belts, you have to save more,you have to work more for lower salaries and only through that will we get out of the current dilemma that essentially prevents the economy from growing - in CNBC

A flat tax on everybody would be a good measure in The US

Marc Faber : Well I tell what you to do. I think a flat tax on everybody would be actually a good measure and I think to reduce the regulatory environment in the u.s. and create again an environment. we have expansionary fiscal and monetary policies. but we have restrictive regulatory policies. and it curtails any initiative by the small businessmen. and the large businessmen, he doesn't employ and invest capital in the u.s. does he that in china or somewhere else in the world where the regulatory environment is more favorable. if you look at net investments in the u.s., it's gone down for the last 20 years. and it's now negative. in other words, basically the capital stock of America is not being replenished. but it's being replenished somewhere else. and at the same time, the policies ofthe Keynesians have always encouraged spending. we're not going to get out of recession by savings. spend, spend, spend. that is wrong. the lack of saving is the problem of the united states - in CNBC