| The world’s economy is in “quite a mess right now,” and while the American economy is doing well, its growth remains “mediocre by historical standards,” argued Carl Weinberg, chief economist of High Frequency Economics. It’s hard to overstate the deleterious effect of falling commodity prices, Weinberg said.
“There’s a crash in commodity prices right now that’s potentially catastrophic to the global economy,” he said. The steep price declines in everything from iron ore to gold to agricultural products — not to mention oil—“10 or 20 years ago” would have had only a modest effect on global GDP, but that’s not now the case, he said...............................................Full Article: Source
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