Marc Faber : S&P 500 Could Drop 40%

Marc Faber : “There are some people now calling for DHIA 18,000 or 20,000 by year end,” Mr. Faber said in TV interview. “The S&P could then easily drop by 40%.” The Editor/Publisher of “The Gloom, Boom & Doom Report” said the market “needed the correction” starting in February or March, it did not correct, pull back, just dipped and buyers bought the dips into record territory. “I thought maybe we were in a year like 1987, where the market goes up strongly between 1 Jan and 25 Aug. 25,” he said. “The market went up by 40% and then it crashed by 40% in 2 months’.” Stock indexes in the US have been soaring to record highs on an almost-daily basis. “We may get into a bubble,” he said. “One of the reasons that this may happen is one way or the other, central banks have to be discredited very badly.” - in a recent interview