The lack of saving is the problem of the united states

Marc Faber : Well I tell what you to do. I think a flat tax on everybody would be actually a good measure and I think to reduce the regulatory environment in the u.s. and create again an environment. we have expansionary fiscal and monetary policies. but we have restrictive regulatory policies. and it curtails any initiative by the small businessmen. and the large businessmen, he doesn't employ and invest capital in the u.s. does he that in china or somewhere else in the world where the regulatory environment is more favorable. if you look at net investments in the u.s., it's gone down for the last 20 years. and it's now negative. in other words, basically the capital stock of America is not being replenished. but it's being replenished somewhere else. and at the same time, the policies ofthe Keynesians have always encouraged spending. we're not going to get out of recession by savings. spend, spend, spend. that is wrong. the lack of saving is the problem of the united states - 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.