Marc Faber : weak Oil Prices signal an Economic Slowdown

Marc Faber :  Until maybe six weeks ago, people were still talking about $100 oil and instead of going up oil completely, within a very brief period of time we are down like 14 per cent from the peak. Concerning the oil price I just like to say when oil goes up, oil producers benefit and when it goes down, oil consumers benefit so India benefits from lower oil prices. The US on the other hand does not benefit because it has become a very large oil producer in their own right. So depending on the country it has a favourable impact and it has on others an unfavourable impact. In general weak oil prices such as weak cooper, weak nickel, weak aluminium they signal an economic slowdown in the world or they signal a recession.

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Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.