I was never really a fan of the thought that this time it was all going to be different, that commodities had reached a high plateau and that the boom abd bust so traditional in their pricing was now over.
The Goldman Sachs Commodity Index has tumbled a third since May. Chartists say it is now perched precariously on its seven-year line, threatening to challenge the “supercycle” thesis that became so fashionable at the top of the bubble.
Who knows, I might even have been right in thinking that way.
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