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Middle Tennessee | John I am not an economist, but I swear the ultra-cheap money has only deepened the commodity depression in contrast to the intuitive relationship between interest rates and inflation. The commodity producers have been able to borrow for investment in efficiency, and survived low prices with greater production. You can see it in the energy markets, and you can see it in specific posts here on NAT. It may also be true for manufactured goods. I am not disagreeing with your brief post, just pointing out that lately it has appeared that cheap money = cheap commodities. | |
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