Marc Faber On The Four Pillars Of Poverty

Saturday, February 8, 2014
By Paul Martin

by Tyler Durden
ZeroHedge.com
02/08/2014

It is remarkable that, Marc Faber begins, despite the growth the US has enjoyed since the 1960s, the poverty rate has barely changed. Faber believes there are far more “poor” people today as a percentage of the population than there were in the 1960s, because lower middle-class and middle-class people have moved into the ranks of the poor. In his opinion, the increase in poverty rests on four pillars: cultural and social factors, educational issues, excessive debt, and government handouts, which encourage people not to work. Other factors include: international competition, which keeps wages down; and monetary policies, which create bubbles and impoverish the majority… “It’s pretty hard to tell what does bring happiness; poverty and wealth have both failed.”

The Rest…HERE

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