August 2015 – ECONOMICS – Financial turmoil in China could spread throughout the world, potentially leading to a U. S. stock market crash in 2016. At least, that’s the view of renounced market analyst Marc Faber. America ‘is essentially the last man standing.’ Faber told Maria Bartiromo on Fox Business earlier this week. ‘I think it will spill over to the U. S.’ (Source: Fox Business, August 20, 2015.) Despite the country’s recent central bank decision to devalue the yuan, crashes in the Chinese stock market seem to be endless. The country’s major indices – the Shanghai and Shenzhen markets – have declined more than 30% over the last six weeks. With that, investors have been expressing their concern that a weak currency and slowing economy could spur capital outflows. ‘We don’t know exactly why China began to weaken its currency. It could be because of massive capital outflows,’ Faber explained.
This post was published at UtopiatheCollapse on August 23, 2015.