«Dr. Doom»: «More Countries Should Brexit»

Brexit, MarcFaber, Dr. Doom

Marc Faber, editor and publisher of The Gloom, Boom & Doom Report

Thailand based investor Marc Faber doubled down on his pro-Brexit views, telling  finews.asia that more countries should follow Britain's example and leave the «sick» European Union.

Marc Faber is best known for his glum predictions for financial markets, but he has long been a scathing critic of the EU over its handling of the European debt crisis.

In comments to finews.asia, Faber welcomed the decision by British voters to leave the EU, as «the best that could have happened». The decision roiled foreign exchange, stock and bond markets globally and prompted Britain's prime minister to step down.

«Sick, Useless Elite»

«It sends a clear message to a sick political elite and useless Brussel bureaucracy, which can’t retard economic growth enough with complex laws and endless regulatory hurdles that the working people have had enough» Faber told finews.asia.

Faber, a Swiss economist and market forecaster who lives in Chiang Mai, Thailand, drew patriotic parallels to Switzerland, which has flourished economically despite being outside the bloc – and lucrative single market.

More EU Exits

Calling Brexit a victory of ordinary people against a political and financial elite disinterested in the average citizen, Faber said other EU nations should follow.

«We can only hope that more countries will opt out of the failed EU monster,» he said.

Faber had spoken out in favor of Britain leaving the European Union before the vote, saying the move would be good for economic growth despite the short-term pain of uncoupling.



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