US government fiscal and monetary intervention benefited China and other emerging economies

Marc Faber : .... the problem with government intervention both fiscally and monetary, is that there are always unintended consequences. And all I am saying is basically, through the Fed’s intervention—monetary intervention—the U.S. has not progressed in 12 years. Now someone will tell you oh, we have Google and this and that. Yes correct, in that sense, some sectors of the economy have done well, but these sectors belong to say 3% or 1% of the population. If someone wins the lottery in ten years he can say, look I have a method how to win the lottery, once or even twice and so forth, but the majority eventually loses out. But the big winners of this monetary policy were essentially China and other emerging economies because the capital spending and the industrial production shifted to these countries and lifted commodity prices and so on balance, it actually damaged the U.S. and the entire Western World dramatically. - in the Financial sense Newshoure Interview
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