Faber: stay defensive

Marc Faber in his usual, outspoken style:

• If there is no correction now, then the chance for a crash in the fall will increase even further
• Many shares are down 20-40%, the technical picture looks bad
• Greece should never have joined the EU, they should have been kicked out
• Greece is not the big issue, China is, a slowdown is going on and a crash is very well possible, weak commodity prices are one of the symptoms of the problems of the Chinese economy
• Stay defensive, buy USD cash, in the future there will be better opportunities to invest