Tuesday, November 19, 2013

Faber praises Paul Volcker, Karl Marx

Marc Faber thinks Marx may have a point. He says "Karl Marx might prove to have been right in his contention that crises become more and more destructive as the capitalistic system matures and that the ultimate breakdown will occur in a final crisis that will be so disastrous as to set fire to the framework of our capitalistic society."

Dr Faber then comments on Paul Volcker by calling him a "man of impeccable personal and intellectual integrity". And he adds "he was the best and most courageous Fed chairman ever."