Marc Faber: Prepare for a Massive Market Meltdown

[flintlock]

http://www.cnbc.com/id/49802535

Bloomberg | Getty Images Marc Faber, managing director of Marc Faber Ltd. and publisher of the Gloom, Boom and Doom Report

“I don’t think markets are going down because of Greece, I don’t think markets are going down because of the ‘fiscal cliff’ — because there won’t be a ‘fiscal cliff,’ ” Faber told CNBC’s “Squawk Box.” “The market is going down because corporate profits will begin to disappoint, the global economy will hardly grow next year or even contract, and that is the reason why stocks, from the highs of September of 1,470 on the S&P, will drop at least 20 percent, in my view.”

[don]

Re: Marc Faber: Prepare for a Massive Market Meltdown

Will the privatization of SS come to the rescue?

[Raz]

Re: Marc Faber: Prepare for a Massive Market Meltdown

Will the privatization of SS come to the rescue?

More likely the forced investment (confiscation) of all our IRAs and 401Ks into US Treasuries.

[shiny!]

Re: Marc Faber: Prepare for a Massive Market Meltdown

More likely the forced investment (confiscation) of all our IRAs and 401Ks into US Treasuries.

Do you think there'd be any warning in advance of this?

[flintlock]

Re: Marc Faber: Prepare for a Massive Market Meltdown

More likely the forced investment (confiscation) of all our IRAs and 401Ks into US Treasuries.

That's been my guess for a while now.

[LorenS]

Re: Marc Faber: Prepare for a Massive Market Meltdown

More likely the forced investment (confiscation) of all our IRAs and 401Ks into US Treasuries.

Wouldn't this require massive liquidation of equities? What happened in Argentina when they confiscated the retirement funds?

[don]

Re: Marc Faber: Prepare for a Massive Market Meltdown

More likely the forced investment (confiscation) of all our IRAs and 401Ks into US Treasuries.

That wouldn't bale out the stock market.

[Raz]

Re: Marc Faber: Prepare for a Massive Market Meltdown

That wouldn't bale out the stock market.

You're quite right; it wouldn't.

I was thinking: why wouldn't these government criminals go for the whole loaf and not a slice?
My comment wasn't directed at saving the stock market. It will probably have a reset again but will survive.
It will be the US Government bond market that'll need "saving".

[santafe2]

Re: Marc Faber: Prepare for a Massive Market Meltdown

That's been my guess for a while now.

It's important to move some of your investments offshore. About 20% should be good for now. It's also important to keep investments here in productive and non productive physical assets like real estate and metals. These will be more difficult to control. These are also difficult to move if there is an unforeseen clamp down on US based assets so offshore first then build physical assets that are more difficult to confiscate. IRAs and 401Ks are there for people who want to take advantage of the system, not for people who want to maintain their assets. If you keep it in a governement controlled program don't complain when they take it. No one created these programs to help you.

[lektrode]

Re: Marc Faber: Prepare for a Massive Market Meltdown

...why wouldn't these government criminals go for the whole loaf and not a slice?
...

with a '53% mandate' ?
why wouldnt they?

[doom&gloom]

Re: Marc Faber: Prepare for a Massive Market Meltdown

You're quite right; it wouldn't.

I was thinking: why wouldn't these government criminals go for the whole loaf and not a slice?
My comment wasn't directed at saving the stock market. It will probably have a reset again but will survive.
It will be the US Government bond market that'll need "saving".

Wanna know what group gets hit the worst besides some very wealthy people?

doctors.

They stuff retirement plans as much as possible as they are out of court access in case someone sues the doc out of existence.

Just think, they would get double-pumped in this case, first with Obamacare, then with ObamaBonds...