Marc Faber Sees a Good Contagion from Brexit
CNBC reports Marc Faber, editor of the Gloom, Boom & Doom Report, believes Brexit (Britain’s exit from the European Union) will prove to be a positive for worldwide economic growth. Faber sees recent developments, including the rise of Donald Trump, as a revolt against the crony capitalist system.
Faber stressed Britain leaving the EU would not be disastrous, saying that if Switzerland can operate in a “single” market and outside of the EU so can Britain. “Brexit is a victory of ordinary people, common sense and people who are prepared to take responsibility for the sake of freedom against a political and financial elite that only cares if stocks go up or down and does not care about the interests of the average British citizen.” Said Faber, “We can only hope that more countries will opt out of the failed EU monster. I see only a good contagion.”
Back in August 2015, Faber said he expected a bear market to unfold (link).
The source link below includes Faber’s opinion on how the polls and betting sites were wrong about the Brexit vote.