Marc Faber Says "Devious" Inflation Will Transfer Wealth from Workers to Rich

By on June 29, 2009

Marc Faber points out that one of the insidious aspects of inflation is its tendency to transfer wealth from the lower class to the upper class. In his words, inflation shifts wealth from the middle class and workers to the rich, as has happened over the last 25 years. Inflationary forces favor large speculators and the people who are close to the government.

SMA Comment: Faber correctly points out that the lower classes are in trouble and the forces working against them are so powerful and able to contain any outrage as to their manipulations that there is little hope for meaningful change, or reform.

Source:

http://marcfaberblog.blogspot.com/2009/06/inflation-will-shift-wealth-from.html
***

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>