Thread: Marc Faber: Look out! A 1987-style crash is coming

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  1. #1 Marc Faber: Look out! A 1987-style crash is coming 
    PORCUS MAXIMUS Rockntractor's Avatar
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    Published: Thursday, 8 Aug 2013 | 3:15 PM ET
    By: Alex Rosenberg | CNBC Producer
    The S&P has rallied 19 percent in 2013, which is impressive by any measure. But the market did far better in 1987, when stocks added more than 30 percent from the beginning of the year to Aug. 8. The problem?

    The market ended up tanking in the second half of that year—dropping 36 percent from the Aug. 25 peak to the October low, before closing out 1987 nearly exactly where it began.

    And Marc Faber, publisher of the Gloom, Boom & Doom Report, predicts that the very same thing will happen in the back half of 2013.

    "In 1987, we had a very powerful rally, but also earnings were no longer rising substantially, and the market became very overbought," Faber said on Thursday's "Futures Now." "The final rally into Aug. 25 occurred with a diminishing number of stocks hitting 52-week highs. In other words, the new-high list was contracting, and we have several breaks in different stocks."

    Faber says that's exactly where we find ourselves this August.
    Mo>http://www.cnbc.com/id/100950234
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  2. #2  
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    A crash just like 1987's would be fine with me. It bounced back in just a few months, and would give us a cheap buying opportunity in the meantime.
    "Today, [the American voter] chooses his rulers as he buys bootleg whiskey, never knowing precisely what he is getting, only certain that it is not what it pretends to be." - H.L. Mencken
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  3. #3  
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    Quote Originally Posted by linda22003 View Post
    A crash just like 1987's would be fine with me. It bounced back in just a few months, and would give us a cheap buying opportunity in the meantime.
    Would that have any effect on real estate?
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  4. #4  
    Ancient Fire Breather Retread's Avatar
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    Quote Originally Posted by Elspeth View Post
    Would that have any effect on real estate?
    Drag it backwards.....
    It's not how old you are, it's how you got here.
    It's been a long road and not all of it was paved.
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  5. #5  
    Power CUer patriot45's Avatar
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    Quote Originally Posted by Retread View Post
    Drag it backwards.....
    I'm fixin to buy a house, what did that mean!?

    : “Grow your own dope. Plant a liberal.”
    ” Obummercare, 20 percent of the time it works everytime.
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  6. #6  
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    Quote Originally Posted by patriot45 View Post
    I'm fixin to buy a house, what did that mean!?
    In theory, you might get a better value by waiting.

    In practice, I'm not seeing it. At this point, housing is still being snatched up by investors who are sitting on cash and they're turning them into rental properties. I doubt you're going to have a better buying opportunity than you have right now.
    Olde-style, states' rights conservative. Ask if this concept confuses you.
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  7. #7  
    Power CUer patriot45's Avatar
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    Quote Originally Posted by Adam Wood View Post
    In theory, you might get a better value by waiting.

    In practice, I'm not seeing it. At this point, housing is still being snatched up by investors who are sitting on cash and they're turning them into rental properties. I doubt you're going to have a better buying opportunity than you have right now.
    I kinda figured that. I've been lookig all year, there are still some good deals out there. I'm not fussy, Ill take a double wide on an acre or so. No neighbors, peaceful and I an play my music loud! I'll keep looking!

    : “Grow your own dope. Plant a liberal.”
    ” Obummercare, 20 percent of the time it works everytime.
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