Even as Faber is predicting gloomy days for the US index, 48 percent of stocks constituting the S&P 500 clocked 52-week highs in past three months, while 6 percent hit their 1-year highs on Monday itself
India is in the midst of change. One of the biggest successes India has had, compared to other nations, is that the stock markets have risen and the currency has been stable. This has less to do with Prime Minister Narendra Modi and more to do with its central bank governor Raghuram Rajan, who, I think, is the best central banker in the world.
When the Federal Reserve announces its next move tonight, some expect it to reduce its $85 billion monthly bond-buying programme, targeting an eventual end to quantitative easing in late 2014. Others expect the Fed to begin to reduce the program in early 2014, or to finish it off by 2015. But Marc Faber thinks otherwise.<br /><br />
Marc Faber on why Obama will ruin stocks, while Bernanke will ruin the world economy.
Markets are up on momentum trades, and the willingness of investors to overlook policy uncertainty in the short term. Back home, FII interest in India has perked up again.
Faber said US markets are likely to witness a correction of at least 10 percent this year. "But the big question: is it just a correction or is it the beginning of a more serious downturn?
Growing at top-speed for 30 years, China has defied the laws of economics. But in the opinion of an increasing chorus of analysts, it's time is up.
The price of gold, which has fallen in recent weeks as part of a broader market sell-off, has even further to fall,says Faber.
The investment guru holds forth on the market outlook in India, China and in Western markets.
It's not about hyperinflation fears in the US or about the dollar debasement, as gold bugs claim. It's really about something else closer home.
Analysts warn of a 'global deflationary bust' on the horizon, with severe downside risk for equities.