Barron's
:
Are you suggesting stocks are a bubble?
Marc Faber: I am suggesting that in the fourth year
of an economic expansion, near-zero interest rates will lead to a
further misallocation of capital. I thought the U.S. market would have a
20% correction last fall, but it didn't happen. I also said the market
might explode to the upside before the correction occurred. We might be
in the final acceleration phase now. The Standard & Poor's 500 is at
1650. It could rally to 1750 or even 2000 in the next month or two
before collapsing. People with assets are all doomed, because prices are
grossly inflated globally for stocks, bonds, and collectibles. - in Barron's