Tuesday, January 21, 2014

Marc Faber vs Bill De Blasio

We have to distinguish between the Financial economy, the financial sector and the economy of the well to do people that benefit from rising assets, painting, art, wine and high end properties in the Hampton s and West 15th in New York and the average typical household or working class people. 

The fed's policies have led to a lot of problems around the world. They are partly responsible for energy prices are where they are, from $10 from 1999 to now around $100 a barrel. Food prices are up.

For the poor people this has an impact. Some people in the Lower income groups spend say 30 percent of their income on transportation, gasoline, electricity. 

And the problem is people like Bill Deblasio say, 'you know whats the problem, all these rich guys... because of these rich guys you are poor, they take advantage of you so lets go and tax them'.