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Marc Faber Warns "The Market Is Waking Up To How Clueless The Fed Is"
"I think it's very likely that we're seeing, in the next 12 months, an '87-type of crash," warns a somewhat excited sounding Marc Faber, adding that he thinks "it will be worse."
The pain is just getting started as Faber notes that "the market is slowly waking up to the fact that the Federal Reserve is a clueless organization." Internet and Biotech sectors (growth stocks) are "highly vulnerable because they're in cuckoo land in terms of valuations," and fully expects the selling to spread as The Fed "have no idea what they're doing. And so the confidence level of investors is diminishing," and that means we will see a major decline.
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Well, duh, but everybody already knows that.
Whilst I do love a bit of chart porn (check out ETR and EIX...ooooh baby), you can splice a current timeframe with any random historical one and come up with an impending crash scenario. Still love Faber though, he knows this is a bullshit market being fed kilo portions of cocaine and the sooner the drug supply is cut, the better for everyone long term.
yeah whatever - faber calls it every fucking year. the bear case always sounds smarter, and a lot of analysis on here is good.
but seriously, no one knows when this thing is going to fucking blow up. we just know it will happen some day. even a stopped clock shows the right time twice a day.
I'm sorry, guys, the FED is not clueless. It's following the plan precisely. First you pump things up and then you crash them down. This isn't a lot different than 1929 except this time it's for keeps. When they're done with us this time we'll all be living in squaller with barely enough to eat. Keep watch as the dollar loses whatever value it has left.