Economist Caution: Prepare For 'Massive Wealth Destruction'

[I AM NOT THAT GUY 5,715]

Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”

When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”

Read Latest Breaking News from Newsmax.com http://www.moneynews.com/MKTNews/Massive-wealth-destruction-economy/2013/06/20/id/511043#ixzz2sO12Jdrn

[OriZ 3,157]

He is 100% right about his 100% answer.

[I AM NOT THAT GUY 5,715]

I have already seen it happen twice in my lifetime. Both times coincided with first the election of a Democratically controlled House and Senate, and two years later, a Democratic President.

[OriZ 3,157]

I personally don't get into the politics sides of it, I think "policy makers" don't really cause anything for better or worse, they are merely a reaction