Marc Faber: America needs to be more competitive in manufacturing

China has grown extremely competitive in the quality of its earth-moving and construction machines. What they produce is better than what Deere and Caterpillar produce. 

The problem in America is that you have a lot of Facebook geniuses who sit around all day looking at their own pictures. They don't have competitive jobs. 

I met a diver in Shanghai the other day who repairs platforms and pipelines. He makes $180,000 a year and works half-time. 

The point is, there are lots of jobs that would pay well, but not many Americans are qualified to do them.




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