Friday, October 22, 2010
Marc Faber: Yes. And also I’d like to point out that in an economic system you can always have, in some sectors of the economy, deflation and then in the other sectors inflation. And we have now a global economy. I can assure you, you can go anywhere in the world – whether it’s Brazil, Africa, Asia, Central Asia, Russia.
The price level today is of course much higher than 20 years ago or ten years ago. So the US and western Europe, they may have on an international scale a bias towards maybe deflating a little bit, certainly. Real wages are deflating. But in emerging economies you have a lot of inflation. In some countries you have food prices going up annually at 20 percent per annum. And nobody can tell me that his energy bill is today lower than it was ten years ago.
Because the price of oil is much higher. It is up from ten dollars a barrel to say eighty dollars a barrel.
via the Daily Reckoning
Dr. Marc Faber Tomorrow's Gold
Dr. Marc Faber author of the Gloom, Boom and Doom report is a world class Investor, Doctor Faber 's typically controversial and contrarian views have earned him the label of Dr. Doom. Doctor Doom also trades currencies and commodity futures like Gold Natural Gas and Crude Oil.Even his harshest critics must admit that he's been unerringly correct in his market forecasts over the past three decades . Marc Faber is a Swiss investor.He was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager. Faber is publisher of the Gloom Boom & Doom Report newsletter and is the director of Marc Faber Ltd which acts as an investment advisor and fund manager.