What a Long Strange Trip it's Been with Alfonso Peccatiello of The Macro Compass
RiskReversal Pod
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The Copper to Gold Ratio Is a Good Indice of the Economy
Copper is the bellwether for industrial activity all over the world. Gold is an alternative form of money that can't be printed either. It generally tends to do well when people are looking for an alternative place to own wealth that is not dollars. So if you look at the ratio between the two, it's pretty informative and copper to gold ratios actually coming down relatively aggressively. That's consistent in my models again with earnings per share being negative on a year on year next year. And I don't think these reopening rumors will be validated to a large extent.
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