tag:blogger.com,1999:blog-5713178645208582139.post1557748192359561567..comments2024-03-22T02:37:15.030-05:00Comments on Macro Musings Blog: Why the Surge in Commodity Prices?David Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5713178645208582139.post-19832119324525254652010-12-30T12:14:59.404-06:002010-12-30T12:14:59.404-06:00Wait, does it mean than the laws of physics are mo...Wait, does it mean than the laws of physics are more powerful than those of economics?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-48102477186828546202010-12-28T12:09:14.044-06:002010-12-28T12:09:14.044-06:00The post:
"Even so, this still does not mean...The post:<br /><br />"Even so, this still does not mean U.S. monetary policy has been too loose. It could be that the Fed's global monetary stimulus is simply putting the emerging economies back on their trend growth path."<br /><br /><br />But, but, but, the "trend growth path" in the emerging economies was originally made possible by bubble spending in the developed rayllovenoreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-84579047884212720992010-12-27T19:38:48.464-06:002010-12-27T19:38:48.464-06:00David -
What your first chart does not illustrate...David -<br /><br />What your first chart does not illustrate is that commodities have only gained back about a 50% retracement of the collapse from the high of mid '08. Krugman made that point a few weeks ago on his blog. Rhetorically - why wasn't it an inflation problem then?<br /><br />http://stockcharts.com/freecharts/gallery.html?$CRB<br /><br />Also, what the link shows, and I Jazzbumpahttps://www.blogger.com/profile/07337490817307473659noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-71797596752853501452010-12-27T18:44:19.226-06:002010-12-27T18:44:19.226-06:00This is an excellent post.
Commodity prices tell...This is an excellent post. <br /><br />Commodity prices tell us very little about US monetary policy. <br /><br />There has been much caterwauling about commodities and gold etc. bla-bla-bla the usual gold nuts.<br /><br />Sheesh, take a look at Japan. They have been fighting inflation since 1990. Since then, their economy has grown by 15 percent, and ours by 150 percent. Bond traders now expect Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.com