Faber says #OccupyWallStreet should be #OccupyTheFed

The main point:

“I will tell you what the US needs.  The US needs a Lee Kwan Yew who stands in front of the US  and tells them, listen you lazy bugger, now you have to tighten your belts, you have to save more, work more for lower salaries and only through that will we get out of the current dilemma that essentially prevents the economy from growing.”

On #OccupyWallStreet:

Basically we have the Keynesians and the Democrats and I’m not saying that all democrats are equal, but they want interventions and we have far too many interventions in the western world where the share of the total economy that goes to government and is government- sponsored has grown. And that essentially makes it very difficult for the western world to grow substantially. As to that huge level of debts, i don’t see how the western world, including the US, japan, and Western Europe can actually grow. They’re going to stagnate. And when you have stagnation over a longer period of time, people start to ask questions and then they go after minorities. And Wall Street is a minority – they are a minority and anyone else would have done the same. They use the system. But they didn’t create the system. The system was created by the lobbyists and by Washington. So they should actually go to Washington and also occupy the Federal Reserve on the way.

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