Marc Faber argues that the $600 government rebate will not help the US economy because if spent on common items, the money will go to other countries rather than being kept in the US. The only way to keep the money domestic is to spend it on prostitutes and beer, which are among the few products still made in America. Faber was born in Switzerland and holds a PhD in economics, residing in Thailand and publishing the Gloom Boom Doom newsletter.

1. Marc Faber's comment on US economy

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

3. If we spend that money at Wal-Mart, the money goes to China .

4. If we spend it on gasoline, it goes to the Arabs.

5. If we buy a computer, it will go to India

6. If we purchase fruit and vegetables it will go to Mexico , Honduras and Guatemala

7. If we purchase a good car… it will go to Germany

8. If we purchase scrap it will go to Taiwan

9. and none of it will help the American economy

10. The only way to keep that money here at home is to spend it on prostitutes and

11. beer,

12. since these are the only products still produced in US.

13. I've been doing my part.

14. Faber was born in Zurich and schooled in Geneva, Switzerland. He studied Economics at the University of Zurich and, at the age of 24, obtained a Ph.D. in Economics . Faber resides in Thailand and is best known for the Gloom Boom Doom newsletter . Slides compiled by : Surendranath D Nair