Marc Faber, I see a boom everywhere except for the working class | MARC FABER BLOG

Marc Faber, I see a boom everywhere except for the working class | MARC FABER BLOG

Thursday, May 26, 2011

Marc Faber, I see a boom everywhere except for the working class

May 25 (Bloomberg) Marc Faber : ..recession in China could be a technical recession , if you go and slow down from a growth rate of say ten percent to a growth rate of three percent then there is a recession , also I do not believe in the growth rate that China publishes , because if you had adjusted nominal GDP for the true rate of inflation then real growth is of course much slower , you know I want to tell you something that disturbs me in all emerging economies and in many other developed economies , from my taste in front of luxury hotels there are far too many Ferraries and Maseraties and Bentleys and this is not a good sign , you should see depression when conditions are depressed . I see a boom everywhere except for the working class and except for the lower middle class , but among the well-to-do people the wealth that is floating around and the prices you pay for high end properties is incredible and I think that will come to an end and a lot of people will lose a lot of money and so I am ultra careful at the present time ....." Marc Faber ionterviewed by Bloomberg TV May 25 2011 : Marc Faber, publisher of the Gloom, Boom & Doom report, talks about the outlook for China's economy. Faber also discusses the U.S. economy and budget deficit, and his investment strategy

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.