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Marc Faber, managing director of Marc Faber Ltd. and publisher of the Gloom, Boom and Doom Report. “I don’t think markets are going down because of Greece, I don’t think markets are going down because of the ‘fiscal cliff’ ? because there won’t be a ‘fiscal cliff,’ ” Faber told CNBC’s “Squawk Box.” “The market is going down because corporate profits will begin to disappoint, the global economy will hardly grow next year or even contract, and that is the reason why stocks, from the highs of September of 1,470 on the S&P, will drop at least 20 percent, in my view.”
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