Marc Faber: S & P 500 could fall to 1180 punkta

The broader index S & P 500 index of blue-chip Dow Jones Industrial Average may register a decline of 20 percent from their peaks in the recent investor Marc Faber veteran, known for his apocalyptic prediction.

"I think we face a global slowdown in world economies and disappointing corporate results and would not be surprised to see a decline in indices of, say, 20 percent," said Faber in an interview with financial publication CNBC.

"It's not a big drop. If you take such a decline does not necessarily get out of bed in the morning, "says the specialist.

In mid-September broader index S & P 500 peaked at a level of 1 475.51 points, while the blue-chip Dow rose 661.87 points to 13.
Decrease of 20% from these levels translates to drop to 1,180 points for the S & P 500 and 10,930 points.
Despite the expected third wave of Fed stimulus, Faber does not believe that monetary incentives alone will affect the extent of the economy.

They can cause side effects, but not empirically proven that throwing so much money in the system to solve the problems her.

Marc Faber is a great contrarian investor and publisher of the Gloom Boom & Doom Report. He is well known for his accurace predictions of stock market crashes and other correct calls on different investment assets.

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Marc Faber is a great contrarian investor and publisher of the Gloom Boom & Doom Report. He is well known for his accurace predictions of stock market crashes and other correct calls on different investment assets.

Marc Faber: Up 5-10 years the West will fall into total chaos

Debt burden of the U.S. and other Western economies will continue to grow and this will lead to a "colossal mess" within 5 to 10 years, warns Marc Faber, author of the report Gloom, Boom and Doom, said on CNBC.

"I think governments will try to maintain it as long as possible and this means that we are not facing a" fiscal gap "and to" Grand Canyon fiscal, "said Faber.

According to Faber political systems in western countries will allow the debt burden continues to grow. The scenario in which deficits are never repaid, meaning that one day the system will inevitably collapse.

"Or to be undertaken major reforms and things will happen as usual, by revolution," he said. "The U.S. is closer to such an Revolution and Europe."

"I think it will happen within 5 to 10 years - then chaos will be a colossal and pervasive," says Faber.

"I think that the annual deficit of the United States, regardless of who wins the presidential election, will remain above $ 1 trillion for the foreseeable future," he said.

Bureaucracy in the U.S. and Europe is too heavy and creates an additional burden on the economy, Faber warned.

Marc Faber is a great contrarian investor and publisher of the Gloom Boom & Doom Report. He is well known for his accurace predictions of stock market crashes and other correct calls on different investment assets.

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Marc Faber is a great contrarian investor and publisher of the Gloom Boom & Doom Report. He is well known for his accurace predictions of stock market crashes and other correct calls on different investment assets.

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Marc Faber is a great contrarian investor and publisher of the Gloom Boom & Doom Report. He is well known for his accurace predictions of stock market crashes and other correct calls on different investment assets.

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Marc Faber: "Both candidates are clueless and completely artificial..."

Jimmy Rogers: "It's worse than clueless, because they think they know what they're doing.. and so they are dangerous! If they were just clueless and looked out the window, we wouldn't have a problem, but they think they have the solution - but their solutions are what's making the situation worse..."

Marc Faber: "That is precisely the point. It is very dangerous to have ignorant people believing that they know something!

Marc Faber is a great contrarian investor and publisher of the Gloom Boom & Doom Report. He is well known for his accurace predictions of stock market crashes and other correct calls on different investment assets.

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Marc Faber is a great contrarian investor and publisher of the Gloom Boom & Doom Report. He is well known for his accurace predictions of stock market crashes and other correct calls on different investment assets.