In an interview on CNBC’s Fast Money Halftime Report, Marc Faber of the “Gloom, Boom, and Doom Report” stated that a global recession in the final quarter of this year or any time next year is certain.
“I think we could have a global recession either in Q4 or early 2013. That’s a distinct possibility.”
When asked what were the odds, Faber replied, “100%.”
Faber has been calling a potential stock market crash later this year if the markets did not come down, but since the markets have dropped lately he does not expect the 1987-style crash he previously mentioned. Despite his doubt of a market crash, Faber is guaranteeing a recession within the next year and a half, which is a pretty astonishing call.