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Revenge of the Old Economy & How to Invest in the Commodity Supercycle | Jeff Currie
Hidden Forces
The Volatility Trap
I call it a volatility trap because if you have spare capacity in the system, adequate inventories, your volatility remains low and prices remain low. And that was essentially the world we lived in from 19 80 until, call it, 20 20. But there was a lot of excess capacity built up during the 19 eighties,. coming out of the coal war, all o that at this point now, most of this has all been exhausted. They're out of capacity. It's not just o russian guided missiles, you know, it's everything in the global old economy, capital, heavy, heavy sector. To overcome that volatility, we need these long term contracts.
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