Marc Faber on U.S. Exports, Emerging Market Growth via U.S. Monetary Policy (CNBC 11/9/2010)

Marc Faber (Dr. Doom) was on CNBC's Squawk Box on 11/9/2010. He thinks emerging economies should send Ben Bernanke a thank you card since U.S. monetary policy "fostered industrial production growth in China, employment growth, wage increases, domestic consumption, increased demand for raw materials, that then lifted commodity prices"..... "I think it's a dream to think that the U.S. can double its exports in the manufacturing sector but I think that the U.S. can export more in the agricultural sector and that the revenues from agricultural exports can go up because of higher prices for agricultural commodities". He also thinks a new asset bubble is forming.

Frank Berlage of Multilateral Partners Global Advisory Group mentioned industrial production data: China industrial production is about 49% of GDP, Japan is 24%, Germany is 29% (excluding agricultural products) and U.S. industrial production/GDP is 10%, which is mostly the assembly of foreign components. Watch the CNBC video after the jump.

Source: Global Critics Actually Should Thank the Fed: Marc Faber (CNBC.com)

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