While I expect that commodities will try to be the next bubble, I don’t think it will last as long as the last two (tech and housing).
Rising commodity prices hurt everyone.
While I expect that commodities will try to be the next bubble, I don’t think it will last as long as the last two (tech and housing).
Rising commodity prices hurt everyone.
A commodity bubble by another name is inflation. What with all that fiat money sloshing around the world sooner or later it had to lead to inflation. Too much money chasing to few goods. When was the last time gold was this high? Remember the banana republic inflation of the 1970’s?
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Ever since LBJ gave us slugs instead of quarters and dimes, we’ve had 100% fiat money.
In world history, there’s never been a transition from fiat money to real money without a disaster.
Three reforms: Abolish the Federal Reserve, abolish the direct election of Senators, abolish the income tax. Not coincidentally, all three of these blunders were imposed on the American people in 1913.