Marc Faber's comment on the US economy

The federal government is sending each of us a $600 rebate.

If we spend that money at Wal-Mart, the money goes to China.
If we spend it on gasoline it goes to the Arabs.
If we buy a computer it will go to India.
If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala.
If we purchase a good car it will go to Germany.
If we purchase useless crap it will go to Taiwan and none of it will help the American economy.

The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US.  I’ve been doing my part.

More about Marc Faber at GloomBoomDoom

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  • Liju Philip

    @Manpreet, actually this was written on his website some months ago. I happened to read it only today. Anyway for 9/11 anniv, the US is already losing another financial institution, Lehman brothers.

    @Soham, Dinu 😀

    @Ottayan, the guy is a very reputed economist. And is supposed to be one of the most pessimistic of them. He was one of the first to predict that the Sensex will crash to 10k when the market was around 20k. He was not totally off mark.

  • Von Paul

    The money is always ? in and ? out. Thats the way it goes. The comment is funny but is true and it is happening.
    You dont have worrie about where the money goes… at the end we live in big country called Earth… We shuold be worried when we begin to sell TVs or jeans to someone on the moon!!! And if you are succesful, you`ll end your life in a realy nice house with a beautyful view to the sea…maybe in central america!!!! who knows?

    And why we people think that America is Only the US. When you mention anything about America you should know that you are talking from north to south (Alaska to Argentina and more).

    @ Chittaranjan: You did buy a computer and the money went to America, to Central America, to an Intel factory in Costa Rica! So you are correct!!! congratulations!!!! some part of your Money went to America!!! but you forgot the “central”

    PD. If you dont want to sent money to the Arabians… the dont buy a V8…thats easy, buy a 1.6 – 4Cyl…or a hybrid

  • iPoly

    And if you spend money on prostitutes, they also have to spend these money on prostitutes and beer, right? Otherwise it kinda defeats the purpose.

  • The Serious JOKER

    thats a very good comment, its better to put the money back into the banks to grow. No other option seems likely for them right now 😛

  • MetroGnome

    The beer better be a microbrew, or Pabst Blue Ribbon – the last ‘major’ American beer. All the major brewers are owned by foreign corporations! Bud was recently purchased by InBev which is based in Belgium. Miller is owned by SABMiller based in South Africa, Coors is brewed and marketed through a joint venture between SABMiller and the Molson Coors Brewing Company – which is itself only half American… I couldn’t verify in which country the company pays income taxes.

  • will

    funny, but counter productive and shows little knowledge of where things come from or how economies work. e.g. india does not make computers taiwan does …

  • Anonymous

    everyone complains that we send all our gas money to arabs…canada is our biggest supplier,we only import about 10% of arab oil…