Marc Faber: Disaster Coming This Year

Economist Marc Faber told CNBC's Maria Bartiromo Thursday afternoon that he saw disaster coming this year. Faber has been bearish on the market for months, and continues to believe that stocks are in for a severe correction, despite the run to new highs.

Likewise, Faber continues to love gold, even though the yellow metal has been dropping in price. “I want to own non-financial assets,” he said.

Faber has been warning since at least last May that a 1987-style crash was on the horizon. That year, the Dow Jones rose some 40% before dropping over 20% in a single day.