Give Marc Faber credit: Among the doomers, he sure does have a way with ideas and rhetoric.
“Dr. Doom” made an appearance on Squawk Box this morning, and he explained what QE is really all about.
See, in a democracy, everyone has one vote. If you’re rich and industrious and hard working, you have one vote. And if you’re illiterate and were born out of wedlock and are living on welfare, you have the same, one vote?
In Faber’s view, the elites are getting revenge.
By printing money, the earnings power of the proletariat is diminishing, while the assets held by the wealthy are going up. And at the same time, the wealthy are outsourcing more and more production to China, to further rob the masses.
So in otherwords, all we’re seeing is wealthy-on-poor class warfare.