In America we have a tyranny of the masses

"So you end up with kind of on the one hand a tyranny of the masses where you distribute all kinds of goodies to people. Like in America roughly 50% of the population gets a handout one way or the other from the government. So by continuing to support these people, you get their votes. "And at the other side of the spectrum, you have the people that pay the tax, the big corporations, and the well-to-do people, and they also want to maintain their interests, which is natural." And so you have a completely dysfunctional political system -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.