The Asian economies have come off the peak

Marc Faber : There has been a very significant economic slowdown globally in real terms. We are in recession in Europe. We have hardly any growth if it was measured properly in the U.S., and in asia, i'm not saying we're in a slump, but we have a tremendous recovery, 2009 to 2011, and just over the last six months the Asian economies have come off the peak. In other words, we have high economic activity but in my view no longer any growth in Asia. - in CNBC

Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.