Marc Faber : 1987 All Over Again

Posted by Marc Faber

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If the markets continue with a very strong rally into the summer, as was the case in 1987, I would expect a correction, a significant market decline. In the short term there can be a small correction, but then a rally will probably lead to a more significant top in 2013 which will not be exceeded for a while.
(Note: The 1987 Crash or Black Monday refers to Monday October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short time. The Dow Jones Industrial Average(DJIA) dropped by 508 points to 1738.74 (22.61%). By the end of October, stock markets in Hong Kong had fallen 45.5%, Australia 41.8%, Spain 31%, the United Kingdom 26.45%, and Canada 22.5%. New Zealand’s market was hit especially hard, falling about 60% from its 1987 peak)

                                                          1987 Crash                                                                 

Yesterday Marc Faber told King World News that a major bottom is forming in gold, but global stock markets are on shaky ground.  Faber, who is author of the Gloom Boom and Doom Report, was speaking with KWN as the gold market was in the midst of being smashed on Wednesday……. the entire interview can be read HERE

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