Turning Hard Times Into Good Times

Adrian Day is our special guest this week. With high growth rates in emerging market countries like China, India and other highly populated, underdeveloped countries, billions of people who have been living in poverty are now aspiring for middle class comforts that require huge amount of energy consumption. Likewise large amounts of metals and materials are also required to provide transportation and appliances. At the same time, the world is awash in debt, which threatens us with the potential for massive credit deflation, continuing high levels of unemployment and decreased incomes for people living in the Western world. On balance, will these counter trends offset one another? Or will growth in the underdeveloped world continue to overwhelm a declining western economy causing not only metals prices but also food prices to boom? Mr. Day's book, Investing in Resources, will help us learn how to profit from these trends without encumbering ourselves with too much risk.