Odds of Global Recession Are 100%: Marc Faber [View all]

[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