Friday, May 8, 2009
Everywhere activity and prices are bouncing. These charts reflect gains in industrial metals prices, shipping rates, and crude oil. The fundamentals of economic activity are improving. This has nothing to do with Obama's policies or government bailouts or TARP. Higher prices for commodities reflect not only improving demand but also easy money. Higher inflation is likely at some point, but for now the thing to concentrate on is the improvement in the economy.
Posted by Scott Grannis at 10:00 AM