The Price of Time with Edward Chancellor
The HC Commodities Podcast
00:00
The Promoter's Profit
You have basically low prices and low volatility in commodities, which commodities can't abort. But you have this section, and it's kind of terrifying, really, but the promoter's profit. Over the last decade in these ultra-low interest rates environments, you had a complete shift in industry where it was no longer the product guys that were in charge. And through stock buybacks, various, where you describe it very neatly in the book, essentially, you can engineer profits much more effectively than with low interest rates. Can you talk to that first, and we were talking before we got on, got live about shale, there's a story there as well.
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