Odds of Global Recession Are 100%: Marc Faber

[HiPointDem]

There’s still a 100 percent chance the world heads into recession, Marc Faber, publisher of “The Gloom, Boom & Doom Report,” told CNBC’s “Closing Bell” on Thursday, echoing a call he made in May.

When you look at the major economies, Europe, the U.S., China and the emerging markets that are dependent on China for growth, Faber, aka Dr. Doom, only sees weakness.

“Europe is already in recession,” he said. “Germany is still growing very, very slightly, but is likely to go into recession soon.”

Growth in the U.S. is also falling off. “The U.S. economy has decelerated and I don’t see much growth in the next six to 12 months,” Faber said.

Even corporate profits, the lone bright spot, look to be at risk. “The corporate sector has recovered remarkably since the trough in earnings in 2009 and we are at record high earnings,” Faber said, but added, “Corporate profits will disappoint over the next 12 to 18 months.”

http://www.cnbc.com/id/48768746

[Sherman A1]

1. Saw a NYT article on

inventory backing up in China as well this week, indicating a huge slowdown.

Any thoughts?

[HiPointDem]

2. my thoughts are things are looking grim, and it's all to give the fucking banksters more money &

power.

[bigdarryl]

3. Like they say options are like assholes

Everybodies got one.To say there's NO growth in the US is foolish it's not growing fast but it's slow growth .Just last week the the housing market picked up.

[HiPointDem]

4. possibly because the gov't is selling off blocks of foreclosures to private equity firms, eh?

yeah, good news there, brother

[Drunken Irishman]

5. Maybe...but we've been hearing this since coming out of the last recession...

Doom & gloom...the bottom is going to fall out...the stock market is going to crash...it's coming...it'll come in 2010...it'll come in 2011...it'll come in 2012...now it'll come in 2013 or 2014. Well, yeah, I guess if you keep pushing it back long enough, sooner or later you'll be right.

There will be a global recession. It's bound to happen. It always happens. But eh, I'll believe it when I see it.

[HiPointDem]

6. europe is officially in recession already. china has a glut of unsold product & the us ain't lookin

too healthy either down here in the cheap seats.

[Drunken Irishman]

8. Like I said, they've been saying this since 2010...

2010:

http://www.huffingtonpost.com/2010/06/15/double-dip-recession-comi_n_612398.html

2011:

http://money.cnn.com/2011/09/30/news/economy/double_dip_recession/index.htm

I'll believe it when I see it. Based on predictions, we should have collapsed into a recession two or three years ago ... and the stock market should have tanked:

2010:

http://money.cnn.com/2010/05/17/magazines/fortune/2010.crash.1987.again.fortune/index.htm

2011:

http://money.msn.com/stock-broker-guided/a-market-crash-in-2011-count-on-it-marketwatch.aspx

2012:

http://caps.fool.com/Blogs/growing-odds-of-us-stock/73515

Still waiting...

It might happen, I'll concede it. But let's be honest, these people have been predicting doom & gloom ever since we came out of the last recession and a year passes and they're proven wrong. Sooner or later, I guess if they keep making these predictions, they'll be proven right. But right now? I'm not going to panic. It does no good, especially when these people have been woefully off the mark the last three years.

[HiPointDem]

9. except that europe wasn't in recession then & china was the engine of the global economy.

except that the dominoes of spain, greece, etc hadn't fallen over, etc.

austerity budgets in process all over the globe -- that means reduction in production, that means reduction in jobs, that means recession.

i think recession is likely. we'll see.

[Drunken Irishman]

10. I don't...but you're right, we'll see...

[B Calm]

7. Publisher of “The Gloom, Boom & Doom Report

What would you expect him to report? Just sayn'. . .

[FreeJoe]

11. I have a hard time...

...taking anyone seriously when they make 100% predictions on a system as incredibly complex as the world economy. I start off knowing that they are overstating their case and that makes me much less inclined to listen to them. 100%. Seriously?