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Commodity Prices Are Due For A Severe Correction, Says Mike McGlone
Forward Guidance
Do You Think We're Already in a Recession?
If the price of oil, I think peaked at $140 in the summer of 2008, doesn't that mean that adjusted for inflation? That's more like $180, $190, even $200 now. Also, the recession started according to the MBER either, I think December 2007 or January 2008. So it's not as if the historical history supports, oh, as soon as you have a recession, commodity prices fall. You commodity prices can peak during inter-recession. And yes, an inflation-distant basis, CPI or PPI, should be much higher. This is a bear market that just bounced.
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