Marc Faber, publisher of the "Gloom, Boom & Doom Report," talks with Bloomberg's Margaret Brennan about U.S. government debt and the nation's top Aaa rating. Faber also discusses Federal Reserve policy, China's economy and the real estate market.
Faber stated if you add all the unfunded liabilities that US has, including the future liability of medicare, medicaid, and social security, US debt will be junk if the US is a corporation.
Faber blamed the liberal use of credit in the private sector for the cause for the current crisis and he blamed the FED and US Treasury to use the public credit to make matters worse.
(Source: Bloomberg)
Faber stated if you add all the unfunded liabilities that US has, including the future liability of medicare, medicaid, and social security, US debt will be junk if the US is a corporation.
Faber blamed the liberal use of credit in the private sector for the cause for the current crisis and he blamed the FED and US Treasury to use the public credit to make matters worse.
(Source: Bloomberg)
