Faber Says U.S. Would Be Rated Junk if It Were a Company
by Gwen Robinson
Recently by Marc Faber: The Frame of Mind of American Economic Policymakers
Marc Faber, publisher of the Gloom, Boom & Doom Report, talks with Bloomberg's Margaret Brennan about U.S. government debt and the nation's top Aaa rating. Faber also discusses Federal Reserve policy, China's economy and the real estate market.
Faber stated if you add all the unfunded liabilities that US has, including the future liability of medicare, medicaid, and social security, US debt will be junk if the US is a corporation.
Faber blamed the liberal use of credit in the private sector for the cause for the current crisis and he blamed the FED and US Treasury to use the public credit to make matters worse.
Courtesy of GuruFocus.
February 9, 2010
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