Posted on 11/14/2012 6:11:00 PM PST by blam
Marc Faber Warns Global Stock Markets Will Implode
Stock-Markets / Financial Crash
Nov 14, 2012 - 04:09 AM
In this "Squawk Box" excerpt, Marc Faber warns investors to prepare for an eventual "'reset" of the global financial system:
“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.”
“There will be pain and there will be very substantial pain. The question is do we take less pain now through austerity or risk a complete collapse of society in five to 10 years’ time? In a democracy, they’re not going to take the pain, they’re going to kick down the problems and they’re going to get bigger and bigger.”
“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,” stated Faber. “I think we lived beyond our means from 1980 to 2007, and now it’s payback period.”
Click here to see the Marc Faber video.
I am no financial expert, in fact I don’t know anything about the Stock Market ,and I am not even very bright.
But I knew when Obama was re-elected that the Stock Market was going to turn to crap.
That was an easy one.Obamacare is going to ruion a lot of business’s Many Corporations and small business’s are already laying off and the worst has yet to come.
They wanted 4 more years, they got it.The defecation is about to hit the rotating device.
Nothing like a money market fund for those oh so safe credit default swaps.
What ?
Romney worse than a American hating Muslim Marxist ?
Bring it. I’m all out. I’m taking physical possession of lead.
DEFUND. Prepare. Persevere.
The trillion dollar+ deficits are a result of the great recession of 2008. As revenue dwindled as jobs were lost (millions less jobs now versus 2007) there was no belt tightening of the welfare benefits. Just the contrary, for example, requirements to qualify for food stamps were reduced and unemployment was extended to 99 weeks.
You are correct in that government is not subject to laws of private sector where corporations must adjust to conditions.
Good luck with any planning for a “doomsday” scenario. The problem there is that a major collapse would have ripple effects that may not be anticipated — which means even your “doomsday” investments aren’t any good, either.
Blacks are still slaves...just a different master holding the chains.
They should, but they won't. They are addicted. There is always some 'excuse'.
“fueled by cheap money from the fed.”
And it isn’t going to end any time soon.
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