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%.â€
Faber’s pessimism during his recent appearance on CNBC wasn’t surprising for a man whose nickname is “Doctor Doom.â€
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
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%.â€
Faber’s pessimism during his recent appearance on CNBC wasn’t surprising for a man whose nickname is “Doctor Doom.â€
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