Marc Faber opens his discussion on the real estate correction in Vancouver that has since been followed by a recovery. In general, international investors view Canada more favorably than the U.S.. For this reason, money is flowing into Canada, according to Faber.
FAANG Stocks Key to Gold Stocks in Canada
Faber believes that once the FAANG stocks go down strongly, investors will rush into Canadian gold stocks. The FAANG stocks include, Facebook, Amazon, Apple, Netflix and Google. We featured the FAANG stocks in a recent video here.
Faber believes the U.S. economy could be in a recession within the next 6 to 12 months. Many international investors, including Faber, have been predicting this recession for some time as we near the eight-year mark of this economic expansion. The bull market in US stocks has lasted just as long. The historic length is causing some market forecasters to predict a strong correction.
Faber urges Canada to diversify away from the U.S. Faber argues that China and other countries no longer need be dependent upon the U.S. In conclusion, Faber talks about the decline of the United States. China is becoming the new United States as it the largest trading partner to so many nations.
