Marc Faber : First of all, as an economist, I have to say that you
cannot create real wealth by printing money. You can create illusionary
wealth, in other words, asset prices go up, but the wealth of a nation
comes from work, not from speculative gain, and it comes from
productivity, innovation, and capital spending. It doesn’t come from
consumption. Essentially, what we have done in the Western World is to
increase demand through consumer debt over the last 20 years, and now
through government debt, and both are very dangerous developments
because they take demand from the future and [expend it] today. But both
are not sustainable in the very long run. - in a recent interview with McAlvany
Click here to watch the full interview >>>>>>
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