Thursday, March 31, 2011

Marc Faber: America Is A Failed State

"A level-headed, knowledgeable, and intelligent American friend of mine (she has been buying gold for years) recently observed that, 'Only when the American people insist that sound business practices and moral standards be brought back will we be able to give the people of this country a future.'

Unfortunately, I believe that the ongoing moral decay among US politicians and the business elite, the irresponsible fiscal and monetary policies, the decline in educational standards and infrastructure, the trade and current account deficit, the weak US dollar, and the heavy-handed and ambiguous meddling in foreign affairs by US officials, are all pieces in a puzzle, which when assembled reads: Failed State."

Marc Faber

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