Doctor Copper Is Not Happy.
Posted on 11/16/2015 8:50:19 PM PST by blam
Tyler Durden
11/16/2015
Shanghai Copper is down 4.6%, hitting fresh cycle lows not seen since March 2009. No clear catalyst is evident for now aside from stronger USDollar, Codelco's cuts, and more chatter of CCFD unwinds. If COMEX Copper holds these losses, it will be down for 10 straight days - the longest on record from what we could tell.
Copper is crashing in China...
(snip)
(Excerpt) Read more at zerohedge.com ...
Doctor Copper Is Not Happy.
Market lingo for the base metal that is reputed to have a Ph.D. in economics because of its ability to predict turning points in the global economy. Because of copper's widespread applications in most sectors of the economy - from homes and factories, to electronics and power generation and transmission - demand for copper is often viewed as a reliable leading indicator of economic health. This demand is reflected in the market price of copper. Generally, rising copper prices suggest strong copper demand and hence a growing global economy, while declining copper prices may indicate sluggish demand and an imminent economic slowdown. Read more: Doctor Copper Definition | Investopedia http://www.investopedia.com/terms/d/doctor-copper.asp#ixzz3rjHRcQMO Follow us: Investopedia on Facebook >
Good. Maybe this stop the lowlifes from stealing copper HVAC and plumbing pipes from people’s residence’s.
Look at copper to tell you what is happening to worldwide manufacturing and basic industry. Obama has a role in this collapse.
Not happy indeed
Good??? Copper price drops mean more lay offs at copper mines around the country. It’s also indicative of less manufacturing which means yet more unemployment. The low lifes stealing copper are going to do that regardless of how low the price goes.
Funny it didn't seem to be happening before the big run-up a number of years ago.
And you are lecturing me on manufacturing and unemployment? I worked in the oil industry for 30 years, and witnessed 3 sharp business cycles Good sound companies find ways to cut costs and become more efficient, without major layoffs. That dog doesn't hunt with me.
Dr. Copper brings bad tidings..
Not calling your experience into question at all. But you’d have a hard time convincing the HUNDREDS of Freeport Macmoran copper miners who have recently found themselves out of work due to dropping copper prices as “good”.
Will the FOMC raise interest rates on top of an economy already slowing down?
Still you have a point that there is still a segment that suffers. Rather than blaming business cycles, and the businesses themsselves I think you will find that the more culpable culprit is the largess of federal and state regulatory requirements which kill businesses ability to compete on a global scale.
Fix that, and then we can deal with China flooding cheap metals into our country.
Downturns are not what they once were, fairly regular and temporary. The oil biz had a bad one like this in the early eighties, if you recall. They capped a lot of wells and the refiner I worked for shut down over half the plant.
But now the downturns are deeper and longer..
This is due to debt ....
It sure is not due to a lack of money in the pipe. Even the fed banks in China and the US or anywhere cannot push a cooked spaghetti.
The problem is that the Fed and the government is not allowing the MARKETS TO CLEAR...
People have to go broke...businesses had to close and new blood comes in, starts everything back into a upswing..
The money markets are all screwed up as well. When you have bonds at the bottom, and stocks faltering...at the same time you have hard assets crumbling...there is no place to put your money.
Fed has been propping up the stock markets and that worked for a while, but the same thing is going on everywhere else with quantitative easing..they are now out of ammo to temporarily fix markets. It all has to come apart at some point.
Fudging the data and market tinkering has made Obama look competent to the left. But the bill is due to pay the price of that.
Obama, and the Europeans as well as Japan and China wrote checks they cant cash.
The time of reckoning fast approaches...these are just warnings..telling us to run like hell or pray. Maybe dig a hole...
I can’t run, and praying has not helped....so I have been digging..
No argument from me on those points. I’ll give you 17 trillion reasons why, if interested.
is any copper being mined in the US?
if so, how much?
You are spot on. People simply do not see it coming.
Absolutely!
Not sure what current production is but we have a estimate 35million tons in reserves..
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