Stainless steel and burlap are even; everything else is down.
The WSJ list 96 cash for commodity prices. This is unlike the many futures contracts that we most often hear about which are bets on the direction of commodity prices. These 96 are actual exchanges of goods for money. Of the 96 only stainless steel and burlap sold yesterday for the same prices they sold one year ago. Ninety-four of the commodities sold for less than one year ago.
With the current drought and fires one would think at least some crops commodities would be up.
These down prices might mean many things to professionals but to this amateur they point to just how weak our economy is. Note even the number-one growth stock, Apple, is down.
Yet if at all possible the Fed will increase interest rates in September that is crazy. It might be true that the Fed should have never lowered interest rates to current levels but that reasoning will not change the damage an increase will do.
Employment and inflation numbers are subject to government political manipulation but 94 of 96 cash for product prices down is just about as an objective number one can find in economics. WE ARE IN TROUBLE!
Stainless steel and burlap are even; everything else is down.
The WSJ list 96 cash for commodity prices. This is unlike the many futures contracts that we most often hear about which are bets on the direction of commodity prices. These 96 are actual exchanges of goods for money. Of the 96 only stainless steel and burlap sold yesterday for the same prices they sold one year ago. Ninety-four of the commodities sold for less than one year ago.
With the current drought and fires one would think at least some crops commodities would be up.
These down prices might mean many things to professionals but to this amateur they point to just how weak our economy is. Note even the number-one growth stock, Apple, is down.
Yet if at all possible the Fed will increase interest rates in September that is crazy. It might be true that the Fed should have never lowered interest rates to current levels but that reasoning will not change the damage an increase will do.
Employment and inflation numbers are subject to government political manipulation but 94 of 96 cash for product prices down is just about as an objective number one can find in economics. WE ARE IN TROUBLE!
