Wednesday, October 23, 2013

Weakening consumer confidence

Marc Faber clearly is still feeling rather bearish on the stock markets and specially on the US stock market. He comments on the consumer confidence.

"With what is going on consumer confidence is going to worsen further. Any common sense man, he looks at congress sees a dysfunctional government, is not going to rush and buy out goods. Secondly, according to the Feds own statistics the money that was printed by the Fed has gone to 5 percent of the population. Maximum 50 percent of the population household wealth is still down more than 40 percent from 2007 peak."