Friday, June 03, 2011

Marc Faber never pulls punches

Too bad for President Obama:
He is by far one of the worst Presidents the US has had. I’m very upset that none of what he said he would do, mainly change, has actually occurred. So I think he’s certainly intellectually dishonest. And he’s probably made the geopolitical situation worse and also the economic situation worse. And he’s actually vote-buying through handing out money and through increased transfer payments. [I don't think he has his priorities straight], because the priority would be to essentially make the US competitive, and by pursuing expansionary fiscal policies that enlarge the government, you atrophied the private sector. In other words, the private sector is hurt by too much government involvement. Like my friends, they say, we have to pay more and more tax for government officials to harass us more and more and implement more and more regulation. And that of course is not a way to create prosperity. If you have a large corporation or a corporation, you are more likely to hire people outside the US than in the US.
I predict we will have more Boomers clinging bitterly to their grandchildren's employment and wealth opportunities. Why be afraid of China when we have the AARP?

Photo link here.

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