Everyone always says "it is different this time". It isn't different.
Real estate wasn't different in its 2001 to 2006 bubble. Tech stocks weren't different in their 1996 to 2001 bubble. Junk bonds weren't different in their 1986 to 1991 bubble. Etc. Etc. Etc.
Commodities are the latest, that is all. Oil is in a bubble, grains are in a bubble, gold was in a bubble and has already begun correcting. Brazil is also a bubble. China was a bubble and is already correcting.
People who know nothing of finance outside of the one market they are looking at throw a straw, think the world has changed when the bubble gales roll through their favorite asset. The world hasn't changed. Only the speculative plaything of the week.
People who know nothing of finance outside of the one market they are looking at throw a straw, think the world has changed when the bubble gales roll through their favorite asset. The world hasn’t changed. Only the speculative plaything of the week.
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Very well stated.