Marc Faber - Mr. Bernanke is a Murderer of the Middle Class
When asked about the proposed $5.8 trillion in cuts to the US budget Faber stated, “Well I think what they are discussing in terms of cutting the budget is far too little, and the problem is that you can’t actually cut a lot of expenditures because they have to be met. In other words social security, medicare, medicaid, that you can’t really cut. Also the military budget is really difficult to cut because the military complex in the Unites States, the lobbyists are very powerful.”
The destruction of the middle class will be a huge issue going forward for the United States. As the chasm between the rich and the poor widens, in all likelihood we will see civil unrest in the US. I suspect in the end Faber will be right, Bernanke will continue to be a murderer of the middle class. He will be the “great destroyer” of the standard of living for most Americans.