Today King World News spoke with the Managing Director of Investment Banking at Haywood Securities to get his take what is happening around the globe, as well as key markets. Campbell is a veteran of the global markets, and has earned respect from the likes of such people as Eric Sprott and Rick Rule. Here is what Kevin Campbell had to say when asked about the global macro picture: “I’m feeling more confident in general, at least as far as it effects the mining industry. Broadly, I think of the world in four economic segments: The US; Europe; China; and Emerging Markets (apologies to Japan for the omission, but I assume zero-growth status quo there for now). I’m a believer that, despite unresolved long-term fiscal issues, the US is turning and will begin to consume more raw materials as the housing sector recovers.”
Kevin Campbell continues…
“I don’t count on growth in Europe just yet, but I do believe that Draghi has made it clear that money will be printed in very large sums to keep yields manageable and thus maintain some modicum of stability. I think China is in a transition phase, but I do not believe it will seriously falter.
A lot is made of Chinese data and its perceived flaws, but it comes down to the raw consumption levels of everything – that is the true measure of expansion and scale in my view….