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Marc Faber: Prepare for a Massive Market Meltdown

 
Da Big Dang Bang
User ID: 24008725
United States
11/14/2012 08:54 AM
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Marc Faber: Prepare for a Massive Market Meltdown
The markets are going to go into meltdown soon, so expect stocks to lose 20 percent of their value, Marc Faber, author of the Gloom, Boom and Doom report told CNBC on Tuesday.

“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,’ ” Faber told CNBC’s “Squawk Box.” “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.”

[link to www.cnbc.com]

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