There are Different Qualities Debts

If we have growing debts, there’s a difference in quality of those debts, Japan, South Korea and Taiwan used their debts to invest in factories, plants…investments that generated wealth. According to Faber however, the US has just acquired debt to fuel consumption. ‘Where’s the future income?‘
‘We live in a new word. We live in a world where the balance of power has shifted to emerging countries,’ ‘This is the new world, where the old world is largely bypassed,’ said Faber. While most of the media debates whether the US will grow, Faber argues it will have no impact on the world, as China has a much greater influence now than the US.  - in countingpips



Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.