100% Chance' of Global Recession !
Matt 2012/06/30 12:27:27
Thursday, May 31, 2012 04:15 PM
By: Newsmax Wires
Investors need to prepare for a global recession.
That’s the takeaway from one well-respected economist after his recent appearance on CNBC’s Fast Money Halftime Report.
According to Marc Faber, the author of the Gloom, Boom, and Doom Report,
a global recession is all but a certainty later this year or in early
When he was asked what sort of odds he put on a global recession
happening, the economist famous for his ominous predictions quickly
Faber’s pessimism during his recent appearance on CNBC wasn’t surprising for a man whose nickname is “Doctor Doom.”
What was surprising was his level of certainty that a global recession was coming.
Faber stated that there is a “meaningful slowdown in India and China”
that many investors are missing due to the media’s focus on Greece and
He is also worried that the wealthy may be showing signs of spending fatigue after Tiffany’s reported slowing sales.
“There are more and more stocks that are breaking down — economic
sensitive stocks and companies that cater to the high end. That suggests
to me the economy is likely to weaken and the huge asset run is likely
to come to an end with significant asset deflation.”
Much more at the link provided.
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