The governments today are no more representing the interest of the communities

Marc Faber : ....Exactly what I mean, I think the governments today are no more representing the interest of the communities but they are defending their personal interests and essentially you can buy votes by voting for people who hand out money such as Mr Obama , I think he has good chance to be re-elected by simply distributing money, 48% of americans today, they get some kind of government subsidy and the problem is, in Italy, in Greece, in Spain, everywhere, entitlements should be cut now and not in 2026. that will be far too late. but nobody wants to accept the reality. - in CNBC -

Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.