Monday, June 30, 2014

Marc Faber's first job has shown him value of money has dropped a lot

In 1970, I started with a salary of $1295 a month, plus I had a living allowance of $300. But with that you could live quite well, not with luxury. I had a nice one bedroom apartment on 52nd Street and we could go skiing on the weekends and on summers we went to the Hampton's for fun. I'm just saying the value of money has depreciated dramatically over time.