Marc Faber : The Economic Situation in the US worse than 10 years ago

Friday, July 13, 2012

Marc Faber : The Economic Situation in the US worse than 10 years ago

Marc Faber : ...well very clearly compared to say ten , twelve years ago the financial condition of the US has deteriorated because A the medium household have lost money and B the real income are down for the majority of people in other words the medium household income is down and the debt level and as I just mentioned the unfunded liabilities are up very substantially - in a Slovak Radio interview
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Dr. Marc Faber Tomorrow's Gold

Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager.