For the latest Marc Faber, go to MarcFaberBlog.com - The United States is no longer as relevant to the global economy as it was 20 years ago. Emerging economies like Brazil, India, and China are much larger. We are dealing with a completely new world. There has been a huge shift in economic power worldwide. This will lead to political tensions down the line as well. There is huge money behind the global warming issues. The carbon credits and the conservation efforts is a huge business. There is a lot of money on the other hand, as well. So there will be many more conflicts in the future between these two interests. Alternative energy won't become important for a long time. Crude oil today is still the cheapest energy anywhere. People aren't going to drive motorcycles with batteries because they are much too expensive. The oil demand in Asia will soon double. The worldwide production is around 85 million barrels per day, so we will probably see higher prices in the future. Energy conservation is good in the sense that it's not a good idea to waste energy. But that doesn't mean that everyone will have solar panels on their homes or windmills on their roofs. From 1981 to 2008, we had a bull market in government bonds. But in the next ten years, yields will go up on government bonds. Or we may have more inflation so no one will want to buy thee US bonds. If the Federal Reserve stops printing, then the interest rates will go up and we will have a depression in the US. But <b>...</b>
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