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  7. Faber: '100% Chance' of Global Recession

Faber: '100% Chance' of Global Recession

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22 Jun 2012 00:57 #90308 by chairman
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 2013.

When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered:

“100%.”

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 Spain.

Read more: Faber: '100% Chance' of Global Recession
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