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Mark Faber--Financial Survival Is About Diversification And Personal Survival 16.Aug.12

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Inflation has killed the middle class and provided a windfall to Wall Street. The financial sector has outgrown the real economy substantially over the past 30 years. The financial sector no longer exists to allocate capital but rather to act as the "house" in the largest casino that the world has ever known. This means that over time the sector will revert to the mean, which means that it is due for a large deflation. This means that geographical diversification is essential to preserving wealth. Real estate has a money-laundering component that makes it a magnet for black market income around the world. People don't trust the market any longer. Corzine and others have completely undermined the credibility of the system. And the debt collapse could occur at any time.

 

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