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Marc Faber: Prepare for a
Massive Market Meltdown

CNBC News, by Holly Ellyatt

Original Article

Posted By:NorthernDog, 11/14/2012 6:30:33 PM

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

Comments:
He may be right. Today, stocks plummeted once again.

      


Post Reply  

Reply 1 - Posted by: texaspast, 11/14/2012 6:34:09 PM     (No. 9014791)

Give da one his tax increase now and get it over with. He´s going to get it sooner or later, anyway. He´s trying to push us over that fiscal cliff, but wants to be able to blame it on intransigient republicans. Back off and vote ´present.´ No bipartisanship, but let it all be on his head.

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Reply 2 - Posted by: Safari Man, 11/14/2012 6:37:02 PM     (No. 9014799)

Dims want us to go over the fiscal cliff. They believe it will help them and they can blame republicans.

We´re going down more than 20%, I´ll wager. Closer to 50%, I suspect.

Brace for impact.

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Reply 3 - Posted by: zahbudda, 11/14/2012 6:54:04 PM     (No. 9014826)

There is going to be a "sell off" because capital gains Tax is going to 30 percent ...instead of the 15% ...that it is now. Bush Tax Cuts expire first of the New year.... Profits are going to be taken to be taxed at current lower rates...

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Reply 4 - Posted by: trapper, 11/14/2012 7:09:42 PM     (No. 9014845)

I wouldn´t lose too much sleep over this. As bad as it may look in America, where in the world is a better place to park your cash? If you were a company or an individual, where would you put a couple billion in hoarded cash? How about a couple hundred million? How about 10 million? Get down low enough and you can do stupid stuff like buying gold or ammo, but big amounts? No, American stocks and treasuries are still more secure than assets tied to any other country. And there is no change in that regard anywhere on the horizon.

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Reply 5 - Posted by: NYbob, 11/14/2012 7:16:13 PM     (No. 9014851)

I´m guessing the usual year end adjustment turbocharged by massive capital gains increase. That would create Faber´s 20% and then some, but you also have to look at 1st quarter and that will add a huge decline, as the swamp of obamacare devastates every business. So what if it was obviously unconstitutional, who cares if ´taxes´ are supposed to originate in the House, big deal if the criminals who shoved it down our throats exempted themselves? Doctors bail early on top of a normal shortage and no one is working, but they have to pay for coverage anyway. Thanks kids. Your President is really smart, enjoy his ´vision.´

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Reply 6 - Posted by: Bubbasuncle, 11/14/2012 7:46:44 PM     (No. 9014903)

FTA: "Faber added: “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.”
This is why it´s a big deal!

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Reply 7 - Posted by: gesundheit, 11/14/2012 7:48:56 PM     (No. 9014907)

If stocks go down 20%, few investors will have any capital gains to report on their tax returns, no matter high Obama in his foolishness manages to increase the capital-gains tax rate.

This situation would be the opposite of the late 1990s when the Federal government took in a surplus of revenues -- due to a LOWERING of tax rates and a RISING stock market caused by the dot.com boom.

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Reply 8 - Posted by: voxpopuli, 11/14/2012 7:55:55 PM     (No. 9014926)

after the last election the dow went down 20% also..



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Reply 9 - Posted by: Davids918, 11/14/2012 8:19:47 PM     (No. 9014980)

I agree #1.

Republicans need to just give them the tax rate increase.
The Dems aren´t looking to close loopholes and actually increase revenues to the treasury.

Give them that new top tax rate level, and let them try to explain why it´s not balancing the budget like they said it would.

Most of us know it won´t make even a dent, but let´s not build the ark for them.

Simply say, "we gave you the tax rate increase why isn´t that working"?


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Reply 10 - Posted by: reddfroge, 11/14/2012 8:57:03 PM     (No. 9015029)

I am, like all my friends, dumping ALL of my assests before 2013.
America, as a free country, is done...good bye and good luck.

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Reply 11 - Posted by: Japanorama, 11/14/2012 10:10:19 PM     (No. 9015112)

Will Obama blame Bush or Romney?

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Reply 12 - Posted by: adguy47, 11/14/2012 10:54:53 PM     (No. 9015156)

I get a kick out of CNBC´s stories about Faber. One week it´s´ "stocks are going down 25%." Next it´s "Dow 7000 coming." Then it´s something else equally frightening. This guy has been screaming wolf for three years and has been wrong. You can´t trust Faber any more than you can trust anything you hear on any Comcast-owned network -- CNBC, MSNBC or NBC.

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Reply 13 - Posted by: secondtimelucky, 11/14/2012 10:55:23 PM     (No. 9015157)

I see a lot of selling before 12/31 because of capital gains taxes. Also home sales - if sellers can get a buyer between now and 12/31. that is. Remember the 3% surtax on profits from home sales is effective 01/01 - and if you hold GOOG, I´d get while the getting is good. no, really...

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Reply 14 - Posted by: mercedesops, 11/14/2012 11:33:43 PM     (No. 9015188)

Prepare?!!!--it started last Wednesday. Socialism is not healthy for 401Ks and other living things.

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