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Wednesday, August 24, 2011
'Very Muted Growth' Coming For Next 10 Years: Faber
"Both the U.S. and Europe are facing a decade of slow growth brought on primarily by the blunders of central banks, noted doomsayer Marc Faber said. Investors should protect themselves by buying plenty of physical gold and putting it in a secure location, preferably outside the U.S., the author of the Gloom, Boom and Doom newsletter told CNBC. "'If I look at the politicians both in Europe and the U.S., I don't think that prospect (for growth) is very good,' he said. 'If I also look at the entitlement system and the government expenditures and the fiscal deficits and the debt overhang, I think for the next 10 years we'll have very muted growth in the Western world and standards of living for the average household will continue to decline." – CNBC
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3 comments:
The ONLY economists that are NOT predicting higher unemployment, inflation, decline in the dollar's value, huge declines in housing prices, and reductions in the standard of living are the economists appointed by obama. Everyone else knows that the USA is so deep in debt, there is no way --- no way -- we are getting out of this without severe pain. Try to imagine making $75-100,000 a year and not being able to pay the mortgage. Or feed your family. It's coming. And cannot be stopped.
Article heading should read:
'Very Muted Growth' Until Jan 2013 when Obama is sent packing!
If you think Barry Soetoro has anything to do with the economy then you are simply naive.
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