Marc Faber: Prepare for a Painful Market Meltdown, With Video
Posted by Adam English on the Wealth Wire – Tuesday, November 13th, 2012
The markets are going to go into meltdown soon and investors should expect stocks to lose 20% of their value according to Marc Faber, author of the Gloom, Boom and Doom report.
The famous bearish investor talked with CNBC about his analysis and was dismissive of the fiscal cliff. In his view, a downturn is going to happen regardless of how politicians handle the looming issue:
“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.’ 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%, in my view.”
Faber identified several issues curbing an economic recovery, such as the real estate market, which he said has never been so “overbuilt.” He also said there was lots more deleveraging ahead:
“In the Western world, including Japan, the problem we have is one of too much debt and that debt now will have to be somewhere, somehow repaid or it will slow down economic growth. I think we lived beyond our means from 1980 to 2007, and now it’s payback period.
More here: http://www.wealthwire.com/news/economy/4155?r=1
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Whistler Blowers, Insiders
The biggest threat to this country besides the political wing-nuts
is the derivatives market exploding! The cost of that would beat
least 60 trillion if not more. Greed is the primary driver of the market
because the uber rich are no longer just satisfied with billions, they
want more. If they lose it all in a crash, maybe this country can get
it’s head on straight!
A potential 60 trillion dollar loss in the derivative market? The potential loss is more probably in the neighborhood of 600 trillion.
It’s going to be a blood bath. Pray for strength. No one leaves this world with anything except their soul.
The reality is: FACT! The existing economic systems and structures which are presently in place are utterly and completely unsustainable. The global elite and banksters who effectively run this planet are working to an agenda part of which is to totally collapse the existing system. But just prior to this happening or simultaneously at the same time it collapses they are engineering a global conflict as some distraction from taking the blame or the heat for what has happened. The stage for this has or is being set as we speak . Of course, during this Armageddon style self destruct the same old usual suspects will be making and consolidating their wealth by selling arms and all the death paraphernalia which come with mass war, in an attempt to set the stage for the next new wave or world ensuring they are the front runners in the NWO to be on top of whatever immerges from it all. The rebuild of counties, and cities, food, protection, it’s all planed. Also they would have achieved their ultimate aim as well, a massive cull of the global populous.
What will emerge will be a form of paradise for the selected few, the elite, the big white shoe boys, on top of the pile. For the unfortunates who are left, well, a living night mare of slavery, and servitude where the very word freedom will be almost a crime to even think about, let alone understand its implications or meanings. A little as this guy says, when will it all happen? That’s the question! Look for the signs; they are slowly emerging, almost weekly, but one thing for sure we can count on, we all don’t have 10 years left. It could be weeks, months, or even a very few years away, but I will be surprised if this world as we know, has not all but gone within the next 2 to 3 years ! Good luck earthlings, you will need it!