After a rowdy start to the trading year, today legend Marc Faber spoke with King World News about what the big surprise for investors will be in 2017.
Eric King: “Marc, what do you think may surprise investors around the world in 2017? Something they just don’t see coming.”
Marc Faber: “To make a forecast for a whole year is very difficult, but I would like to say that for the next three months I think we will have a rebound in bond prices because the economy has actually been weakening…
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Marc Faber continues: “Car sales have been weakening, housing has been slowing down, the debt levels are extremely high, and short-term interest rates are going up, so it’s hurting some sectors of the market which are interest rate dependent. And I think the economy by and large will disappoint in the next three months, and therefore one of the predictions and positions I have is to be long Treasury bonds.
But I think the surprise for many investors is that the stock market will go down. I would say a bear market is overdue and a recession is overdue.
The one thing that we need to consider which is important for, say, precious metals investors, is the following: Let’s say the Fed realizes that the deficits for the U.S. go up and that interest rates increase and that the economy slows down, do you really think that they will increase the Fed funds rate three times in 2017? Never. What they will aim at, then, is to essentially bring interest rates down, especially if by then the dollar is still strong. And so they will probably launch QE4 in 2017. I think that will be a surprise for many people — not for me, but for many people that will be a surprise.
So as a surprise I would say A, a stock market that goes down, B, a recession, and C, a bond market rally and precious metals going…
This is one of Marc Faber’s greatest audio interviews ever and the overseas line was crystal clear for the recording and it has now been released. Faber covers the great danger facing the financial system in the coming year, what his predictions are in 2017 for global markets, stocks, bonds, gold, silver, mining shares, etc, what investors should be doing with their money right now, what has the wealthy so worried in 2017, how Trump will impact major markets, and much more, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: ALERT: Start Of The New Year Update On The Gold Market CLICK HERE.