Marc Faber says Americans need to work more for lower salaries


BI-ME
October 18, 2011

Marc Faber the Swiss fund manager and Gloom Boom & Doom editor spoke Tuesday about the Occupy Wall Street protests, blaming lobbyist and Washington for the current economic stagnation and characterizing Wall Street as a “minority” that is only “using the system.”

He suggested protesters should instead go after the real culprits in Washington and “also occupy the Federal Reserve on the way.”

Speaking in an interview with CNBC from Montreal, Faber blamed “Keynesians and US Democrats for their interventionist policies.

“There has been too much intervention in the Western World where the share of the total economy that goes to the government and is government sponsored has grown,” he said.

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