Investment analyst and stock market guru Mark Mobius has been in the business a long time.  At 81-years-old, the market analyst says that a huge stock market correction is coming and it’s going to cause a crash and be painful for everyone.

According to Mobius, the former executive chairman at Templeton Emerging Markets, all the indicators now point to a great fall in the S&P 500 and the Dow Jones. “The consumer confidence is at an all-time high in the US, and it’s not a good sign,” he said. “The market looks to me to be waiting for a trigger that will cause it to tumble.”

Mobius continued saying, “I can see a 30 percent drop.” And he isn’t the only one warning of a massive crash.  Jim Roger’s latest prediction was that we were going to see “biggest crash in our lifetimes,” and possibly, very soon. One of the world’s richest men, Bill Gates, also said that a 2008-like financial crisis was a certainty.  Peter Schiff has also warned the next crash will be worse than the Great Depression.

“The bad news is, we are going to live through another Great Depression and it’s going to be very different. This will be in many ways, much much worse, than what people had to endure during the Great Depression,” Schiff says. “This is going to be a dollar crisis.” – Peter Schiff

And movement away from the United States dollar has already begun and Schiff has warned that those who don’t get out of the dollar will be wiped out.

Mobius, who is also a 40-year veteran investor and predicted the start of the bull market in 2009, warns that any drop could be strengthened by the increasing use of exchange-traded funds (ETFs), which account for nearly half of all trading in US stocks. The ETFs could cause further declines once markets fall. “You have computers and algorithms working 24/7 and that would basically create a snowball effect. There is no safety valve to prevent further falls, and that fall would escalate very quickly,” Mobius told the media. “ETFs represent so much of the market that they would make matters worse once markets start to tumble.”

But Mobius did say he’s not certain what the trigger will be that will cause the US stock market to crash horrifically. “You can’t predict what that event might be – perhaps a natural disaster or war with North Korea,” he said.