by Mac Slavo
Well known economist Marc Faber, who predicted the crash of 2008 and its subsequent rally to new highs, says that stock markets are once again set for a massive collapse. Doctor Doom, as he’s affectionately known around the world for his contrarian views, echos the sentiment of forecaster Harry Dent, who recently said that stocks could drop as much as 70% and throw America into a new Great Depression.
As Faber’s moniker implies, destruction and calamity are in our future. And though his forecast is not as grave as Dent’s, Faber still thinks that a 50% crash in stock market capitalization is a real possibility.
The coming drop in equities, however big it will be, could be one of the greatest stock market crashes in history, according to Faber.