Marc Faber Sees 20% Plunge in Stocks Ahead

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Speaking to CNBC’s Jackie DeAngelis on the phone yesterday, Marc Faber, publisher of the Gloom, Boom & Doom Report, expressed his opinion that the market was setting up for a major sell-off.

Faber compared the current situation to 1987 where there was a major stock market rally, but earnings were no longer rising substantially.

The final rally into August 25, 1987 occurred with a diminishing number of stocks hitting new 52 week highs, according to Faber.

Back in June, Faber noted China’s “colossal credit bubble” [link].

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