Marc Faber : Europe is in a Recession , China is Slowing Down

Marc Faber : I am convinced that Europe is in a recession today, if you add every country. and I think there is a very meaningful and more substantial slowdown in china than the official statistics would suggest, probably there is at the present time hardly any growth at all. and so that slows down the demand for industrial commodities and that then slows down the production in countries that produce industrial commodities and their demand. so you have essentially a chain, a vicious spiral going through the global economy, which means that corporate profits in the and don't forget about 40% of corporate profits are outside and of that I would imagine about 50% is in europe, that corporate profits will disappoint.” - in Squawk Box CNBC
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