The Market Is Going To Go Down

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 percent, in my view. - 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.

Take The Pain Now, Or A Collapse Later

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 ten 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 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.

The Whole Global Financial System Will Have To Be Reset

I think the whole global financial system will have to be reset and it won’t be reset by central bankers but by imploding markets — either the currency markets, debt market or stock markets. It will happen — it will happen one day and then we’ll be lucky if we still have 50 percent of the asset values that we have today. - 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.