| The most vexing problem currently facing the world is finding affordable commodities. When push comes to shove, if oil still traded in a cyclical fashion at around $20 per barrel and copper averaged about a buck a pound, today's debt problems would be much more tractable, and growth would be much easier to accommodate.
Indeed, a strong argument can be made that the 2007-08 bubble occurred due to consumer borrowing to keep even with falling living standards. And living standards continue to fall as corporations resist higher wages in favor of cost controls - especially costs related to commodities...............................................Full Article: Source
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