i also like this in the transcript
ARC FABER: OK, even if it goes up 20%, so what? In the US we have 285 million people and you consume 22 million barrels of oil a day. In Asia we have 3.6 billion people and we consume 19 million barrels a day. So, in other words, the per capita consumption here is ten times higher than in Asia. I think in China, I can bet you whatever you want, the demand for food and energy will go up because as standards of living rise, there is an exponential growth in the demand for energy.
JIM ROGERS: It is mainly commodities, obviously, because they are producing. They are taking in zinc, cotton, oil and whatever.
MARC FABER: Yes, but because the Chinese population is 200 times larger than the Swiss population, they are already a bigger coffee market in terms of import into China than Switzerland. The Chinese will not drink as much coffee as the Swiss, nor will they ever be as obese as the Americans, but they can go to the South Korean, or Taiwanese or Japanese level one day. And that will boost the per capita consumption of grains especially, of energy, coffee, cocoa, sugar—dramatically.
this one i realy like :-)
for those who think it cant happen
JIM ROGERS: The US government went bankrupt 2 or 3 times. Don't you know that JP Morgan had to go down to Washington and bail them out. Actually, they came to New York. |
