Industrial Commodities Will Continue To Fail – Marc Faber
Marc Faber, who shares the moniker “Dr. Doom” with Nouriel Roubini, has made a name for himself not only from his intelligence, but also from his outspoken and often controversial views. Faber has recently predicted a 100% chance of a U.S. economic recession and says that he is simply waiting for things to fail. To put things lightly, he is something of a bear, as he often points out the faults of the economy or singles out failing sectors. It seems as though he has done it again, but this time with industrial commodities, namely industrial metals.
Commodities like copper, steel, aluminum, and others have struggled as of late given the shaky economic indicators from around the world. Faber notes that “industrial commodities will remain under pressure due to the fact that the Chinese economy is slowing down considerably”. While it is important to realize that the Chinese are intentionally subduing some of their growth; it has been a rising issue for investors around the world for some time now. China’s GDP growth has been dropping for nearly two years, worrying many that this dominant emerging market is beginning to slow down.
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