Faber: “What was the trigger of the ‘87 crash when markets fell 21 per cent in one day? What was the trigger of the Nasdaq crash in 2000? What was the trigger of Japanese crash of 1989? What was trigger of 2007 crash that brought global stocks down 50 per cent? We don’t know these things ahead of time, but something will always move markets up and something will always move them down. I would guess at the present time, given markets from the 2009 lows have in many cases increased by as much as 100 per cent, that they are no longer very cheap. …. Something could come along, geopolitically or otherwise. I would be very careful being overweight equities. I still have 25 per cent in equities and 25 per cent in corporate bonds.”
“In the 40 years I’ve been working as an economist and investor, I have never seen such a disconnect between the asset market and the economic reality … Asset markets are in the sky and the economy of the ordinary people is in the dumps, where their real incomes adjusted for inflation are going down and asset markets are going up.
“Something will break very bad.”
Forget Greece, which is an “insignificant” economy, it is China that poses the biggest risk to the global economy, Marc Faber the editor and publisher of the Gloom, Boom and Doom report told CNBC on Friday.
“I think the biggest risk is actually China because if you look at Greece, it’s an insignificant economy,” Faber said on CNBC Asia’s “Capital Connection.” “Yes, they owe money, but the market knows that it’s bankrupt.”
When will America Collapse? Answers from Jim Rogers, Max Wolf, David Walker, Gerald Celente, David Vickers, CNN’s Jack Cafferty The end of the Mayan Calender on Dec 2012 may just be coincidence with the coming economic turmoil, but damn isn’t it odd they picked that year. Only God can foresee the future, but it don’t look good.
Economic Collapse/ Depression 2012 — global event — economic publications worry about future
2012- 2016 — The End of America — trillion dollar deficits Collapse the Economy by end of decade
Economist Marc Faber is often gloomy and almost always contrarian. Yet his latest prediction on the world’s wealthy may be among his most frightening yet.
In an interview on CNBC and in his latest “Gloom, Boom & Doom Report,” Faber says that the diverging fortunes of the rich and the rest has become unsustainable. He says that while asset inflation and Fed stimulus of the past 30 years has benefited a lucky few – basically “those with assets” – continued money printing could lead to sudden and violent wealth destruction.
“Somewhere down the line we will have a massive wealth destruction that usually happens either through very high inflation or through social unrest or through war or a credit market collapse,” he told CNBC. “Maybe all of it will happen, but at different times.”
Political risk in the Middle East has increased significantly with war between Iran and Israel almost inevitable, and precious metals and equities investments offer some safety, Swiss money manager and long-term bear Marc Faber said on Tuesday.
Both the U.S. and Europe are facing a decade of slow growth brought on primarily by the blunders of central banks, noted doomsayer Marc Faber said.
Investors should protect themselves by buying plenty of physical gold and putting it in a secure location, preferably outside the U.S., the author of the Gloom, Boom and Doom newsletter told CNBC.
We realize that for most people this may be decried as fear-mongering and crazy survival talk. We can’t help but point out, however, that it’s not just Representative Roscoe Bartlett, economist Marc Faber, and trend forecaster Gerald Celente that are recommending you prepare and head for rural areas. The US Pentagon and Military are very much aware of these possibilities and they’re preparing for exactly the scenarios described in this documentary.
The National Inflation Association is pleased to announce that its new documentary ‘Meltup’ has surpassed 33,000 views in 24 hours and is currently the #1 top favorited news video of the day on YouTube.
Meltup features Gerald Celente, Peter Schiff, Ron Paul, Marc Faber, Jim Rogers, Tom Woods, and others. The documentary proves through facts and statistics how hyperinflation in the U.S. is now inevitable and how Americans could soon see the end of entitlement programs they have become dependent on to live and survive.
NIA believes Meltup is the most important economic documentary ever produced in world history and a must see for you, your friends, and family members. Please spread the word about the documentary to help those you care about survive the hyperinflationary crisis that is ahead.
Meltup is now available to watch at: http://inflation.us/videos.html
Investor Marc Faber said China’s economy will slow and possibly “crash” within a year as declines in stock and commodity prices signal the nation’s property bubble is set to burst.
The Shanghai Composite Index has failed to regain its 2009 high while industrial commodities and shares of Australian resource exporters are acting “heavy,” Faber said.
“As I see it, it is the greatest bubble in history with the most massive misallocation of wealth,” Rickards said at the Asset Allocation Summit Asia 2010 organized by Terrapinn Pte in Hong Kong yesterday. China “is a bubble waiting to burst.”
Rickards joins hedge fund manager Jim Chanos, Gloom, Boom & Doom publisher Marc Faber and Harvard University professor Kenneth Rogoff in warning of a potential crash in China’s economy. The government has raised banks’ reserve requirements twice this year after economic growth accelerated and property prices rallied.