Friday, August 24, 2012

Marc Faber : The Real US Fiscal Deficit is Over 4 Trillion a Year

Marc Faber : 'True' US Fiscal Deficit Is Over $4T Annually "...The way I feel it's going to play out is basically it doesn't matter whether if the republicans win the election or Mr. Obama. the fiscal deficit will stay around $1.3 trillion for a long time , and in my view it will go up. Either way, the fiscal deficit as published by the media, not have a true fiscal deficit, because the true fiscal deficit one would have to include the accumulated unfunded liabilities, and if you report that the fiscal deficit already today it would be in the order of over $4 trillion annually.
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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.