Marc Faber : The majority of people don’t benefit from a rise in the Stock Market

Marc Faber : “If you look at what happened in Cyprus, basically people with money will lose part of their wealth, either through expropriation or higher taxation,” explained Faber. “The problem is that 92 percent of financial wealth is owned by 5 percent of the population. The majority of people don’t own meaningful stock positions and they don’t benefit from a rise in the stock market. They are being hurt by a rising cost of living and we all know that the real incomes of median households have been going down for the last few years.” - in CNBC