You always learn something by reading his thoughts…here he covers the US election, resource prices, thoughts on the market and the shift in demographics globally and the impact it has on his thoughts of investing @ the moment. Enjoy!
How do you see the global economy today?
I’ve been obsessing about the shift in resource prices that started 10 years ago, which is reducing the growth rate of everybody. We calculated the percentage of global GDP that was going to resources, and it declined beautifully, forever, until 2002, when it hit some very low number like 9 percent. The price of pretty well everything has doubled and tripled since then. This has taken a bite of three points out of global GDP.