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McLeod County, MN | The Red Dragon is stumbling and has contributed to the downturn in commodities if you ask me. Before they were taking cardboard and any piece of scrap they could get their hands on. Now they have figured out that they maybe arent doing so good. I have read many times that the price of scrap steel will tell you where the world economy is at. Well that price just happens to be at the bottom of the dumpster. I equate the slowdown of commodities with traveling on the freeway. When the first car (commodity) hits the brakes then every other car (commodity) behind has to hit the brakes a little harder to prevent the accident.
Combine that the downturn in commodities with the fact that equities were pretty hot for a while. Why risk money in the commodity markets for little profit when they could make fast money in the equities. A good chunk of commodity price is driven by speculation so when the players arent playing it makes it hard to get more money in the pot.
And then throw in the fact that gov'ts around the world have overspent and over-promised beyond belief and they have few bullets left in the holster.
To answer your question. Yes something is wrong. | |
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Oil
