Marc Faber: Prepare for a Massive Market MeltdownBy: Holly Ellyatt
Nov. 14, 2012
Female Volunteers At Calais Jungle 'Having Sex With Multiple Refugees A Day'
Feminists Say It's 'Racist And Sexist' for Italians to Have Italian Babies
WATCH: Badass Asian Woman Comes Out Guns Blazing Against Home Invaders
Sweden: Migrant 'Dr Mohamed' Fondles, Licks Patient's Breasts During 'Medical Exam'
VIDEO: Keith Lamont Scott Warned to 'Drop the Gun' at Least 10 Times Before Being Shot
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.”