Thursday, August 27, 2015
Marc Faber Predicts Economic Collapse for 2015
International investor Marc Faber expects a greater market decline - 40% or more with protracted bear market conditions correcting years of extreme excess.
On July 30, he said “(w)e are on the cusp of a major global financial crisis.” Global economies are slowing. “That’s why the markets are selling off and emerging markets (have been declining) for a long time.”
China’s growth is “maximum 2% and maybe even negative” - not the 6 or 7% claimed. “The US was in lalaland to believe that their economy and their corporate earnings would not be affected.” Crashing commodity prices are an important bear signal.
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