The Gloom, Boom & Doom report editor notes "we have had a meaningful decline in many stocks already," and warns it is far from over as market face two possibilities of "longer-term unattractiveness": "a 1987-style collapse," or a 1973-74-style slow "sliding slope of hope."

In the full interview, Faber goes into more detail on the world's deflationary pressures amid "colossal financial asset inflation."