Two quotes from Marc Faber today at World Commodities Week in London.
First on rising commodities prices:
Rising living standards in the emerging world will support demand for commodities — and keep us paying through the nose. Faber observes that if you double someone’s income from $1 million to $2 million, their spending on raw materials “except maybe cocaine” doesn’t rise. Not so for someone on a few thousand dollars a year. They buy cars and the other trappings of middle-class living.
and in classic Faber style:
"The governments, they’re going to f— you all, that’s for sure."
First on rising commodities prices:
Rising living standards in the emerging world will support demand for commodities — and keep us paying through the nose. Faber observes that if you double someone’s income from $1 million to $2 million, their spending on raw materials “except maybe cocaine” doesn’t rise. Not so for someone on a few thousand dollars a year. They buy cars and the other trappings of middle-class living.
and in classic Faber style:
"The governments, they’re going to f— you all, that’s for sure."
