Monty Pelerin produced the following list on his blog today:
COMMODITY PRICE % INCREASES YEAR OVER YEAR
|Agricultural Raw Materials||24%|
|Industrial Inputs Index||25%|
|Metals Price Index||26%|
Commentators are often speaking about Gold as the mother of all bubbles. Gold is up 30% over the same one-year period. Why do people talk about a gold bubble? It would make more sense to talk about an iron ore bubble, a rubber bubble or a cotton bubble. What about the oranges bubble? The gold bubble? What gold bubble?