Faber: Fed Policy Has Led to Global Problems

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Jan.14 (Bloomberg) –- Marc Faber Ltd. Managing Director & Founder Marc Faber discusses fed policies and how they're creating a two-class system with Trish Regan and Adam Johnson on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Band be stretched?

I will point of the backfire?

We have to distinguish between the financial economy is , the financial sector, and the economy of people.

We have rising prices up by -- of paying things, bonds, equities, buying our.

Properties in the hamptons.

The average person, the typical median household, the working class people.

Said policies have actually led to a lot of problems around the world.

They are not only responsible for them, but they are partially responsible.

It is now $100 a barrel for oil.

Food prices are up.

A lot of other prices are up.

Energy prices have very little impact because you are at bloomberg.

You are a young man and make so much money.

For poor people, it hasn't impact.

Some people in the lower income groups, they spend more of their income on energy and transportation.

The fed is creating a two class system?


The problem is that you have people like bill, they come in and they say that the problem is all of the rich guys.

Because of these rich people, you are poor.

They take advantage of you.

Let's tax them.

But in europe, they came out with a paper that the wealthy people should pay a 10% well task -- tax.

A one-time 10% wealth tax.

And that will become a every year tax.

In theory, low rate should

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