Jeff Rubin, author of The End of Growth (his second best-selling instalment), discusses the effect and ramifications of expensive-to-produce oil, in the context of the developed world's over-indebtness, with Pierre Daillie. He says our growth expectations, including those of Canada need to be adjusted downward, as low interest rates will not be sufficient to re-ignite growth, and the catch-22 of (high) oil prices will snooker (global economic) growth in the foreseeable future.
Rubin, former Chief Economist, CIBC World Markets, shares his current investment outlook as well.
At the heart of Rubin's thesis is his well-informed premise that we've burned all the 'cheap' oil, and unless we learn to use less oil, growing global consumption of the black stuff can only come at growth's expense.
Bottom line: We are destined to relinquish economic growth in return for the increasing global appetite for energy.
The End of Growth, by Jeff Rubin, is an eye-opener, an interesting and controversial perspective on the future of trending issues affecting global economic progress.
Discussion:
The End of Growth - Do You agree or disagree?
