Marc Faber: Prepare for a Massive Market MeltdownBy: Holly EllyattCNBC Nov. 14, 2012 |
Claim Jewish Student Was 'Stabbed In The Eye' by Pro-Palestine Protester Draws Mockery After Video Released
Mistrial Declared in Case of Arizona Rancher Accused of Killing Migrant Trespasser
Sen. Hawley: Send National Guard to Crush Pro-Palestine Protests Like 'Eisenhower Sent the 101st to Little Rock'
Senate Passes $95B Giveaway to Israel, Ukraine, and Taiwan, Combined With TikTok Ban
AP: 'Israeli Strikes on Gaza City of Rafah Kill 22, Mostly Children, as U.S. Advances Aid Package'
The markets are going to go into meltdown soon, so expect stocks to lose 20 percent of their value, Marc Faber, author of the Gloom, Boom and Doom report told CNBC on Tuesday. “I don’t think markets are going down because of Greece, I don’t think markets are going down because of the ‘fiscal cliff’ — because there won’t be a ‘fiscal cliff,’ ” Faber told CNBC’s “Squawk Box.” “The market is going down because corporate profits will begin to disappoint, the global economy will hardly grow next year or even contract, and that is the reason why stocks, from the highs of September of 1,470 on the S&P, will drop at least 20 percent, in my view.” Read More |