Marc Faber Discusses Gold, Land Equities and Quantitative Easing With Capital Account
- He was asked what his impression of the United States economy was (since he is here visiting), Faber observed that since he was spending his trip in New York he was not getting a true picture of what was going on across America. For the wealthy New Yorkers everything is going swimmingly as values of their investments have fully recovered. For main stream Americans living in Atlanta or Phoenix their most important assets (houses) are still depressed.
- Employment levels alone won’t tell you about how the recovery is going, you need to look at real wages
- Believes the CPI greatly understates the level of inflation
- Six months ago Faber wrote that he was attracted to housing in Georgia, Phoenix and parts of California/Florida was very attractive relative to the rest of the world
- A huge percentage of Americans own equities through their pension funds, many of which are underfunded, his point being that the Government has to support equity prices
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Marc Faber (Updated on 06/18/2013)