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OK, I've had a chance to read the interview. In short, El-Erian recently wrote a book in which he postulates that that the U.S. consumer is in big trouble and that consumer spending will slow dramatically, but that this does not necessarily spell doom for the global economy because the growing middle class in emerging markets is becoming such a force. He says that while a typical U.S. investor has 80% of their stock holdings in U.S. companies, they would be much better off having a third in the United States, a third in industrialized countries outside of the U.S., and a third in emerging markets.

Of course, this decoupling theory is nothing new, but the article is definitely worth checking out. If what El-Erian says is true, it is quite bullish for commodities in the long run. I am considering adding this book to the list of ones that I want to buy. The main reason why I haven’t bought it already is the advertisement that I saw for it in a financial paper the other day. At the bottom of the ad, it had a testimonial from a famous person who had read the book and was saying how great it is. Who is this person you ask? Alan Greenspan gruppppp (excuse me I just threw up in my mouth).

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