Re: Rut Roh...going down!!
Posted by:
jghxfjj
()
Date: January 08, 2016 11:45AM
Faber:
Dr. Marc Faber, editor of the Gloom, Boom & Doom Report, says the drop in stocks began over a year ago, despite record heights in May 2015.
“The analysts and the strategists and the economists who got it all wrong about the U.S. now blame China for the market decline when, in fact, most stocks began to decline in November 2014,” said Faber
“Most homebuilders are down more than 20%, 30%,” he said. “Why is GM (GM) down more than 20%? Why are most stocks on the New York Stock Exchange down more than 20%? They are down more than 20% because the earnings outlook is poor and because the economic expansion in the U.S. has slowed down meaningfully.”
“At the present time, I'd be surprised if there is any growth at all in the U.S.,” Faber concluded.