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Friday 7 July 2017

Marc Faber: Another financial crisis in my lifetime

Marc Faber, or the more famous under the nickname "Dr. Doom" analyst, has made another scary warning for investors. According to him, we will see another financial crisis within his life.
There are two possible options: either Faber expects to live long, or predicts that we may soon experience a new massive financial crisis.
One thing is certain, Faber is far more moderate in predicting massive crises then before. Normally, his forecasts were something like "be prepared next year for a new financial crisis".
Given the fact that he warned of this for three years, a time when the market has been steadily upward, apparently Faber has decided to change tactics.
Just a week ago, Fed leader Janet Yellen calmed down the market that we would not see a financial crisis similar to that of 2008 in our lives.
In an interview with CNBC, however, at the beginning of the week, Faber said: "I'm 71 and for sure in my lifetime, unless I have an accident tomorrow, I will see another financial crisis and a massive one".
Faber is particularly worried about the world's record debt levels.
"We have a colossal credit bubble in the world. Can it expand? Yes, but it cannot expand forever. One day there will be a limit and one day there will be another huge crisis because the debt level today is higher than it was in 2007", adds Faber.
Mr. Catastrophe warns of a serious decline in US indices and believes he has a "bubble everywhere".
Faber added that he was less bearish than what he was, and that's worrying.
Faber recommends international then the US stock markets.

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