Saturday, May 5, 2012

A Breakup of the Eurozone not a Disaster

Marc Faber : It’s very interesting that you bring this up, because I think the public is being brainwashed by governments and the media that interventions by the government are desirable, and that more stimulus is required, and more government spending on all kinds of programs is needed. And they argue if the banks hadn’t been bailed out, you would have a catastrophe. This is the same way that the people in Europe, the media and the government and the interventionists at the Financial Times, will tell you a breakup of the eurozone would be a disaster. But so far, nobody has been able to explain to me, in simple terms, why a breakup of the eurozone would be a disaster. I don’t see it as a disaster. On the contrary, I think countries like Spain and Italy and Greece and Portugal should be out. - in Seeking Alpha


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