Marc Faber : The problem is that 92 percent of financial wealth is owned by 5 percent of the population

Marc 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 has been going down for the last few years," Faber said "Squawk on the Street" on Tuesday