{"id":15180,"date":"2015-12-11T07:16:53","date_gmt":"2015-12-11T12:16:53","guid":{"rendered":"http:\/\/olduvai.ca\/?p=15180"},"modified":"2015-12-11T07:21:49","modified_gmt":"2015-12-11T12:21:49","slug":"the-global-commodity-crash-tells-us-that-a-major-deflationary-financial-crisis-is-imminent","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=15180","title":{"rendered":"The Global Commodity Crash Tells Us That A Major Deflationary Financial Crisis Is Imminent"},"content":{"rendered":"<div class=\"post-headline\">\n<h3><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/the-global-commodity-crash-tells-us-that-a-major-deflationary-financial-crisis-is-imminent\" target=\"_blank\">The Global Commodity Crash Tells Us That A Major Deflationary Financial Crisis Is Imminent<\/a><\/h3>\n<\/div>\n<div class=\"post-bodycopy clearfix\">\n<p><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/the-global-commodity-crash-tells-us-that-a-major-deflationary-financial-crisis-is-imminent\/global-public-domain-3\" rel=\"attachment wp-att-9572\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-9572\" src=\"http:\/\/theeconomiccollapseblog.com\/wp-content\/uploads\/2015\/12\/Global-Public-Domain-460x246.jpg\" alt=\"Global - Public Domain\" width=\"460\" height=\"246\" \/><\/a>If we really are plunging into a deflationary global financial crisis, we would expect to see commodity prices crash hard.\u00a0 That happened just before the great stock market crash of 2008, and that is precisely what is happening once again right now.\u00a0 On Thursday, the Bloomberg Commodity Index closed\u00a0<a title=\"at 79.1544\" href=\"http:\/\/www.bloomberg.com\/quote\/BCOM:IND\" target=\"_blank\">at 79.1544<\/a>.\u00a0 The last time that it closed this low was\u00a0<strong>16 years ago<\/strong>.\u00a0 Not even during the worst moments of the last recession did it ever get so low.\u00a0 Overall, the Bloomberg Commodity Index is down\u00a0<a title=\"more than 28 percent\" href=\"http:\/\/www.bloomberg.com\/quote\/BCOM:IND\" target=\"_blank\">more than 28 percent<\/a>\u00a0over the past 12 months, and it has plummeted by more than half since mid-2011.\u00a0 As a result of this stunning commodity collapse, extremely large mining companies such as Anglo American are imploding, giant commodity trading firms such as Glencore and Trafigura are in full-blown crisis mode, and huge portions of the global financial system are in danger of utterly collapsing.<\/p>\n<p>In recent days, I have been trying to stress that many of the exact same patterns that we witnessed just prior to the great stock market crash of 2008\u00a0<a title=\"are happening once again\" href=\"http:\/\/theeconomiccollapseblog.com\/archives\/guess-what-happened-the-last-time-the-price-of-oil-plunged-below-38-dollars-a-barrel\">are happening once again<\/a>.\u00a0 This includes the staggering crash of commodity prices that we are currently witnessing, and\u00a0<a title=\"even CNN\" href=\"http:\/\/money.cnn.com\/2015\/12\/09\/investing\/oil-prices-metals-crash-crisis-levels\/index.html?iid=hp-toplead-dom\" target=\"_blank\">even CNN<\/a>\u00a0acknowledges that there are parallels to what we experienced seven years ago\u2026<\/p>\n<blockquote><p><strong>The last time raw materials like copper and oil were this cheap, an economic depression loomed just around the corner<\/strong>.<\/p>\n<p>It\u2019s no secret that commodities in general have had a horrendous 2015. A nasty combination of overflowing supply and soft demand has wreaked havoc on the industry.<\/p>\n<p>But prices for everything from crude oil to industrial metals like aluminum, steel, copper, platinum, and palladium have collapsed even further in recent days.<\/p><\/blockquote>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Global Commodity Crash Tells Us That A Major Deflationary Financial Crisis Is Imminent If we really are plunging into a deflationary global financial crisis, we would expect to see commodity prices crash hard.\u00a0 That happened just before the great stock market crash of 2008, and that is precisely what is happening once again right [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[4540,202,5983,312,1123,4901,10994],"class_list":["post-15180","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bloomberg-commodity-index","tag-deflation","tag-economiccollapseblog","tag-financial-crisis","tag-glencore","tag-michael-snyder","tag-trafigura"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/15180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15180"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/15180\/revisions"}],"predecessor-version":[{"id":15182,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/15180\/revisions\/15182"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}