Monday, January 31, 2011

Marc Faber: You Can't Spend Yourself Out Of Misery

"I think what should happen in the U.S. is for the president to tell the U.S., you have to tighten your belts.

We have to go through hard times for five years to repair the damage that was committed over 20-25 years by the Federal Reserve, by the Treasury, by the politicians, and somebody has to tell the truth. But the politicians keep on fueling the illusion that you can spend yourself out of the misery, and that by printing money you will improve the economy, which is not the case."

Marc Faber

But it does appear the economy has been improving.

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