| Peak oil, peak commodities, the planet running out of food and natural resources... It was only a few years ago that scary scenarios evoking the post-apocalyptic movie "Mad Max" were taken quite seriously in financial markets.
Now the world is confronted by the opposite phenomenon -- a commodities glut that is inflicting serious damage on commodity producing countries, such as Brazil and Indonesia, and commodity traders such as Glencore and Noble Group as well as mining companies large and small. Since peaking in 2008, the Thomson Reuters Core Commodity Index has fallen some 60%. When adjusted for inflation, the current level is close to a 20-year low...............................................Full Article: Source
|