The corporate sector is not spending much money on capital investments and new investments — that’s why they have this huge hoard of cash. There will be many more takeovers and industry consolidation in the years ahead. It destroys jobs, but this is what will happen. As industries consolidate, they get more pricing power, and the cost of living increases. - in MarketWatch, Aug 19
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Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
