Thread: Billionaire Howard Marks: US Standard of Living to Plunge

Billionaire Howard Marks: US Standard of Living to Plunge

Monday, 25 Jul 2011 09:17 AM
By Julie Crawshaw

Billionaire and hedge fund manager Howard Marks says the U.S. debt problem will lower the standard of living for everyone in America, The Business Insider reports.

"In addition to balancing the budget and growing the economy, I think we have to accept that the coming decades are likely to see U.S. standards of living decline relative to the rest of the world," Marks writes in a letter to investors.

"Unless our goods offer a better cost/benefit bargain, there’s no reason why American workers should continue to enjoy the same lifestyle advantage over workers in other countries.â€

Not going to efect him tho is it.With the tax breaks and loop holes he has and made his billions off AMERICAN workers backs by paying their taxes.I wonder how much of his investments are overseas.

quote("Unless our goods offer a better cost/benefit bargain, there’s no reason why American workers should continue to enjoy the same lifestyle advantage over workers in other countries.â€

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