Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: Wyätt Gwyön who wrote (2528)	6/20/2003 10:44:19 AM
From: John Madarasz	Read Replies (1) of 4905

Thanks for the insights, fwiw, According to Marc Faber's latest work, the United states consumes about 22 million barrels of oil today vs a per capita consumption of around 4.5 million bpd for China...that equates to about 5 times. Versus the whole of Asia U.S per Capita consumption of oil is still only 10 times... Faber also sees the almost "inevitable clash"of Chinese interests in the Middle East also, and i've drawn some pretty convincing charts pointing to much higher crude prices over the long term.... but I think it's also very important to realize that the American Economy in the 19th Century experienced a series of financial and socio economic crises, including a civil war, and still managed to perform admirably, and this in a deflationary environment. Both Faber and Rogers believe that even thru certain crisis China is poised to gain market share across the board, and become the dominant player of the world in the next 10-20 years...and beyond. I respect and appreciate your opinion, but i'm wont to lean in the favor of these fellows views and experience.

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