After 40 years in the financial industry, Marc Faber has heard it all. Right now it appears as if we are headed for a slowdown. If there is a slowdown in China, it will spread all over the world.
There will soon be symptoms of inflation. All this money printing leads to booms and busts and economic instability.
If there was really such a high demand for our iron and coal, there would be more demand for it from other countries. But the problem is twofold, one is that our dollar is very expensive making iron, coal and whatever else we mine very expensive compared to other developing countries. And secondly, if there’s all these countries that really do need ores, they are already getting it from another developing nation where it costs less to mine and hence less to buy.