Friday, June 26, 2015
Dr. Marc Faber warns about US Stocks
“We could very well be in a recession in the US within 6 months.”
“I don’t think the US economy is doing particularly well. One of the problems is affordability, and cost-of-living increases. For most households, the cost of living has gone up very substantially and so their spending power is limited. In addition to that if you look at tax revenues in the U.S., corporate tax as a percent of GDP is essentially flat. However, what has gone up a lot as a percent of GDP is individual taxes, so it has some negative impact on the economy.”The editor and publisher of the Gloom, Boom & Doom Report explained recently in an interview with CNBC
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.
Posted by Nicole Bourbaki