We are in Trouble! What's Coming Is WORSE Than A Recession - Marc Faber

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Global inflation has reached historic levels during the past three years. The International Monetary Fund expects global inflation to fall, however, from 8.7% in 2022 to 6.8% in 2023 and 5.2% in 2024. Nigeria's inflation rate rose to 29.90% in January 2024 from 28.92% in December 2023. This is the highest it has been in two decades. India's retail inflation rose to 5.1 percent in January, while the country's economy grew 8.4 percent during the October-December quarter of the current financial year. The US and the EU have seen inflation decline during the past few months, prompting central banks to pause interest rate hikes. Marc Faber asserts that the debate over recession or depression has been settled, contending that if one looks beyond misleading government statistics and focuses on real-world conditions, it becomes apparent that both the United States and the European Union have already plunged into a state of depression.
Global inflation may risk rising again, primarily due to signs of a rebound in energy prices, particularly in crude oil. This week holds particular significance for market sentiment as major central banks, including the US Federal Reserve, the Bank of England, the Swiss National Bank, the Bank of Japan, and the Reserve Bank of Australia, are slated to make decisions on their interest rates and provide insights into their future policy directions.
While the Fed is anticipated to maintain its interest rate within the range of 5.25% to 5.50%, its stance on potential future rate adjustments could have substantial ramifications for global markets. The uneven recovery in the eurozone may prompt the European Central Bank (ECB) to continue its accommodative monetary policy stance, which would likely sustain bullish sentiment in the market. Conversely, the Bank of England (BOE) is expected to maintain its interest rate at 5.25% for the current week, reflecting a cautious approach amidst ongoing economic uncertainties.
After addressing inflation concerns, Marc Faber elaborates on why he currently finds oil stocks to be compelling investment opportunities. The past week in the oil market has been characterized by a significant upswing, with light crude oil futures reaching over 81 dollars per barrel, the highest since November. Global oil demand will increase by over 10% by 2028 and more than 16% by 2045 compared to 2022, according to the World Oil Outlook 2045 by the Organization of the Petroleum Exporting Countries (OPEC) on Monday. Faber believes that despite environmental concerns and changing energy landscapes, the demand for oil will persist and possibly even rise in specific scenarios.

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