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Why there is so much near-certainty about the worst case.

Eurodollar University

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Introduction

As copper prices fall to yet another new low again today and steel prices in China drop precipitously, it reminds us of two important factors. The first is that this deflationary wave that's building is not some future risk. It is happening right now. We don't just see it in commodity prices, we see it in a number of ways that tells us it's here. And the second thing is Copper, Shanghai steel, a bunch of producer price indexes and other things around the world that are pointing toward deflation,.It's around the world. This is not a US banking crisis or a US problem. This is a globally synchronized deflationary recession that is happening as I speak at this

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