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I received this great chart today from Casey Research. To me it shows that, as happens in every recession, some industries and sectors are in decline while others are in ascendancy. We can't sell sewing machines, buggy whips and horseshoes forever. And there is nothing wrong with the "creative destruction" of some industries as long as others rise to take their place and provide jobs as good or better that pay as well or more. Here's the chart (click to enlarge)...

This chart includes two of our favorite sectors, Energy and Metals & Mining. I believe both show a shift in the nature of what the developing world craves. So we sell fewer T-shirts (Retail,) MS Office packages (Software) and ad space (Services) right now. But they will grow apace as the developing world buys more resources with which to build and transport. And that's what energy and mining are all about.

The economy is changing. And that's OK. Moving labor and capital from less robust industries into more lifts all boats. We continue to stress the energy and mining firms, too numerous to list, that we have recommended for your due diligence in previous articles. (OK, here's a partial list: Exxon Mobil (XOM), EnCana (ECA), Cenovus Energy (CVE), SeaDrill Limited (SDRL), Weatherford International (WFT), Total (TOT), North American Palladium (PAL), Platinum Group Metals (PLG), Stillwater Mining (SWC), and Silver Wheaton (SLW)!)

Source: Employment Up! In Mining and Energy, Anyway...