Commodity Bull Markets in Inflation

Jeff Bezos: I've heard you talk about which part of society actually creates inflation. When we think about commodities in physical markets, they're driven by the quantity consumed. To be bullish at an oil market or a copper market, it's really easy. If demand is bigger than supply, you're bullish. Now when we just think about the simple flow or economics of commodity markets, it's just volume consumed. There's no discount factors, no interest rates, just nothing. Either you're long or short the stuff. How do you quote an equity market? Billions of dollars a market cap. How doyou quote an economy, trillions of dollars of output? The concept of volume is

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