Faber: Global Economy Not Healing

Marc Faber of the Gloom, Boom & Doom Report doesn’t see much he likes in the global economy right now. “I think it’s quite funny because everywhere you go, up to a little while ago, there was great optimism about this recovering the global economy when in fact Europe is not recovering and in fact it is slowing down,” Faber tells FOX Business Network.

“In Asia and in other emerging economies we have a very meaningful slowdown in economic activity. I wouldn’t call all the emerging economies being in recession yet, but it’s just very little growth in present time in real terms and in some cases it has been a downturn, a meaningful downturn, like say in retail sales in Hong Kong or in Singapore … so I don’t believe that the global economy is healing, all that was in the context of massive interventions with fiscal and monetary measures by the authorities.” Faber says “the bigger the government is, the less dynamic the economy can be and the less growth there will be.” He also offers his thoughts on Hong Kong, and Japan’s “Abenomics”.

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