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Here is what Marc Faber had to say:  “My view is that the money doesn’t flow, really, into the real economy.  In other words, if you look at the whole recovery since 2009, and don’t forget the recovery officially started in June 2009 in the United States, so we are almost 4 years into an economic expansion, but when you compare this expansion to expansions in the 1960s, 1970s or 1980s, following recessions, it’s a very, very shallow expansion. 


Unemployment is very high, and if you measure exactly the number of people that are employed, yes they have gone up somewhat, but mostly in low paying jobs.  Whereas the jobs that were lost were in high paying jobs.  So you substitute high paying jobs with low paying jobs.


In general, the average family, whether it’s in America, the UK, or anywhere in the eurozone, is not doing well....


Continue reading the Marc Faber interview below...




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“The only economy that is doing well is the economy of the super-rich.  The people that live on Park Avenue, on Madison, around Central Park, and Mayfair in London and so forth, but the rest of the economy isn’t doing well.


I’m not saying this because I have a grudge.  I’m in the financial sector, I benefit from the money printing.  But as a social observer I have to say it’s a disgrace to think with money printing you can solve problems.  Actually you aggravate problems because if you print an undue quantity of money, what happens is that the price level never really adjusts sufficiently on the downside.


So for many people, for many families, the cost of living is relatively high compared to their incomes, which in real terms, inflation-adjusted, are going down.  The easy monetary policies and zero interest rates actually lead to a profit inflation in the corporate sector.


Now corporations have huge profits, and huge cash positions.  What do they do with it?  Do you think they are going to build a factory somewhere in the US, given ObamaCare and given the regulations that exist?  It’s much easier for them to buy an existing business.  So you have takeovers and acquisitions.


But economically speaking, let’s say we have five competitors in an industry and two competitors merge.  What they will then do is close down some stores.  In other words, economically, mergers and acquisitions are designed to layoff people.  To rationalize the business, to make it more cost efficient.


So economically it has rather a negative impact, but it’s good for the stock market.  So you have a huge divergence between what the stock market is doing, namely going up very sharply, and what the real economy is doing which is nothing.”


This is part II of a three part written interview series with Marc Faber that will be released today.  Faber discusses everything from gold, to the end game, dangerous trends, global stock markets, real estate, how investors can protect themselves, central planners, inflation and much more.  The written portion above is just a small part of this extraordinary interview.  The KWN audio with Dr. Marc Faber is available now and you can listen to it by CLICKING HERE.


© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


The interviews with Marc Faber, James Turk, Bill Fleckenstein, Egon von Greyerz, Felix Zulauf, John Hathaway, Gerald Celente and Eric Sprott are available now.  Also, be sure to listen to the other recent KWN interviews which included Art Cashin, Michael Pento, MEP Nigel Farage, Michael Belkin and James Dines by CLICKING HERE.


Eric King

KingWorldNews.com

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