One of the problems of democracies is that governments want to be re-elected. Its all about their own power. Its not to do what is good for the people. Its about power, to stay in power and to keep people in line, basically.
What you do is if you have a Greece, Portugal, Spain, or if you have California and you have fiscal problems, economic problems, or Fannie Mae (FNM) or Freddie Mac (FRE) instead of letting them go bust, which is the right thing to do, you bail out the system with tax payers money. Because someone has to pay for it. You can`t just deny the fact that bad loans occur.
in Bloomberg
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
