Marc Faber
This Is Not a Recession, It’s an Ice Age
Posted on 2020-03-27 19:18:00 [ Show older headlines ]

Financial markets are facing their worst crisis since 1929, a veteran analyst told CNBC on Friday, as top economists downgraded their forecasts to point to an impending global recession. 

Even though stocks across Europe, the U.S. and Asia looked to be heading for some welcome reprieve on Friday, analyst Stephen Isaacs said the coronavirus crisis is “unprecedented” since there were already record levels of leverage and overbought stocks. 

“We came into this with all sorts of problems hiding within the momentum of a massive bull market, which again leads me to feel extremely concerned that the selling is only abating temporarily, and that we are still looking, unfortunately at a very, very difficult situation,” the chairman of Alvine Capital Management’s 
investment committee told CNBC’s “Squawk Box Europe.”

- Source, Ameer Rosic