Marc Faber of the Gloom Boom & Doom Report is bearish on… America.
In an interview with KWN, Faber says the Fed has created an economic situation where every asset class will rise, and thus working Americans will be the losers:
“…If you print money everything will go up…and now the money printing doesn’t go into housing because we have an oversupply of housing, but it goes into equities and for Mr. Bernanke unfortunately into commodities. And this is lifting the cost of living of the median household, of the typical household in the US…Mr. Bernanke is a murderer, he’s a murderer of the middle class and the working class.”
Faber’s recommends an investment portfolio that is 25% real estate, 25% equities, 25% precious metals and 25% cash and short term corporate — not government — bonds. At then end of each year put your profits into the asset class that performed worst in the previous year.
Listen to the full interview at King World News.
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