Thursday, October 31, 2013

Extreme Wealth & Income inequality is not good



"There is benign envy, which motivates you to be better than the person you envy. And there is malicious envy that makes you want to take them outside and do something unspeakable to them."

- Lucy Kellaway



There are several reasons why I am bringing up the envy and jealousy issues here: First of all, if you are strongly inclined to these emotions you will suffer all your life working in organizations, which are a breeding ground for jealousy and envy. You will lead a much happier life working on your own or managing your own business.

Secondly, what is frequently overlooked is that envy also arises because of a sense of fairness, justice, and impropriety. In a society, envy also comes up if some people benefit greatly from some economic policies, but at the cost and the detriment of the majority. Therefore, once again, I am touching on increasing wealth and income inequality and its impact on the economy and on society.


Read Full Text at Marc Fabers Blog

Friday, October 18, 2013

Who is Marc Faber ?

Dr Marc Faber also known as Dr Doom is a world renowned investor and publisher of the Gloom Boom and Doom report. He is well known for correctly predicting many stock market moves and his honest approach to the markets. Contrary to his nick name, he is also bullish at times.

Thursday, October 17, 2013

US current account and trade deficits

With all the unprecedented large amount of money printing by the US government, you would think that everyone in the US is now "wealthy". Far from the truth, the average person on the street has seen little to no benefit from the money printing program.

Marc Faber argues that the money printing has instead helped people outside the US and in emerging economies such as China. 
"Money printing has been beneficial to people with money in emerging economies because a lot of funds flow into emerging economies due to the huge U.S. trade and current account deficits and it has been rather detrimental to the middle class and the working class because their costs of living have risen more than their wages."

Monday, October 14, 2013

Most important question to ask is .....

Marc Faber was asked in a recent interview of what is the most important question that should be asked right now in Wall street.

"Well I think we have unprecedented government interventions with fiscal and monetary policies. For me it’s not really a question, it won’t work but miracles do happen, and maybe based on the bailouts and huge monetary inflation that the central bankers have created, maybe it is possible that the financial system heals and that the global economy resumes a, say, trend line growth such that we had in the 90’s and the early parts in 2000 and 2005. But I very much doubt that."

Tuesday, October 8, 2013

Market nearing peak

Every bull market must end at some point and the US market has rallied hard the past year. If you believe the market may have peaked momentarily, you have company in the name of Dr Faber.

"We are in a bull market that is in the tail-end instead of the beginning but that does not mean prices will collapse. I don't think that stocks are the greatest bargain anymore."


Read the full text at Marc Faber blogs

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