Capitalism is a more fair system than Socialism - Latest Marc Faber interview

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Topics discussed include
-Trade Tarrifs are negative in a sense they will increase cost of living specially among the poor.

-I have to praise Trump that he is trying to reduce regulation. He has done so in a number of regulations. These excessive regulations make the US less competitive compared to other countries with less regulations.

- The whole Social Security system and transfer payments discourage people from working. Many people make a better living doing nothing than coming to work. I know from a number of friends in Switzerland where they get unemployment benefits but they have a side job somewhere where they are moonlighting. So they get the benefits and they get some pocket money from occupation. They dont pay any tax except for Sales tax when they spend the money. 

-Basic Income - Its a very controversial proposal. I am against all these programs because all these programs lead of colossal abuse. The moment the government runs it, there will be massive fraud. 

-Socialism - I have seen the misery and inequalities and injustice that socialism and communism brings along.[in 1968 Eastern Europe, 1978 China, 1980 Russia]

-Capitalism has many shortcomings but its a relatively fair system.

-Deeply concerned about the Chinese economy. Chinese economy has a huge influence on raw material prices around the world.

-Debt levels in China has expanded a lot.
-Emerging economies are highly indebted.  

-When Global liquidity tightens US Dollar gets stronger. Trump policies are indirectly tightening contracting global liquidity. 

-Outlook for Emerging Markets currently are not particularly good.

-Cash is probably the most dangerous thing to own.

-You should never stop learning. Good education is very important and it doesnt necessarily mean university education. Problem in the US is you have less of an apprentice system than we have in Europe. In Europe you have a lot of vocational schools where you specialize in say Carpentering or Electrical Engineering.

-I would diversify- Real Estate, Equities, Physical precious metals.