On Feb 17, 2011, at 8:52 PM, brad wrote:
>
> @ Shane: How do you account for the run up and then run down in
> commodity prices in 2007-2009? Take wheat, which had a bumper crop
> and huge surpluses, what caused its price to more than double only to
> fall back down 9 month later. There is no way to explain this with
> fundamentals.
On the contrary. The "fundamentals" explain the price *before* and *after*. *During*, a zero-sum game [speculative profit and loss] accounts for the [economically random] fluctuations.
Shane Mage
"All things are an equal exchange for fire and fire for all things, as goods are for gold and gold for goods."
Herakleitos of Ephesos, fr, 90