QUOTES OF THE DAY 8-25-12

What I object to the current government intervention in so-called ‘solving the crisis’, they haven’t solved anything. They’ve just postponed it.

Marc Faber

If you print money like in Zimbabwe… the purchasing power of money goes down, and the standards of living go down, and eventually, you have a civil war.

Marc Faber

“Twenty years ago, … [a family] spent its income on housing, clothing, food appliances, cars, a radio and a TV. Today, it will spend additional money on a DVD player, computers, fax machines, printers, several cellular phones and a whole host of other new electronic gadgets…modern society requires people to continuously enlarge the ‘basket of goods’ that are considered necessary to lead a ‘good life.’”

Marc Faber

“In the developed world we have huge debt to GDP, in terms of government debt to GDP and unfunded liabilities that will come due, and these unfunded liabilities are so huge that eventually these governments will all have to print money before they default.”

Marc Faber