Rising Living Standards In the Emerging World Will Keep Commodity Prices Well Bid

Rising living standards in the emerging world will support demand for commodities — and keep us paying through the nose. Faber observes that if you double someone’s income from $1 million to $2 million, their spending on raw materials “except maybe cocaine” doesn’t rise. Not so for someone on a few thousand dollars a year. They buy cars and the other trappings of middle-class living. - in WSJ Blog, covering World Commodities Week in London

Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.