| The commodities super-cycle was expected to last at least two decades. But has it already run its course? Commodity bulls argue that prices have historically tended to rise and fall in 20-year waves. After a long period of stagnation in the 1980s and 1990s, prices appeared to have started a powerful new cycle in 1999 driven by emerging market demand.
Yet just halfway into the predicted super-cycle, the Dow Jones-UBS Commodity Index is down nearly 25 per cent in just over a year, and off 5 per cent already in 2012. That has put the bulls on the defensive...............................................Full Article: Source |