{"id":5152,"date":"2015-02-02T06:44:09","date_gmt":"2015-02-02T11:44:09","guid":{"rendered":"http:\/\/olduvai.ca\/?p=5152"},"modified":"2015-02-02T06:45:27","modified_gmt":"2015-02-02T11:45:27","slug":"5152","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=5152","title":{"rendered":"Commodities crash: Bad news for the world economy, but is anyone listening?"},"content":{"rendered":"

Commodities crash: Bad news for the world economy, but is anyone listening?<\/a><\/h3>\n
\n

Reading the general run of financial headlines might lead one to believe that price declines in those commodities which are highly sensitive to economic conditions such as\u00a0iron ore<\/a>,\u00a0copper<\/a>,\u00a0oil<\/a>,\u00a0natural gas<\/a>,\u00a0coal<\/a>, and\u00a0lumber<\/a>\u00a0are good on their face.<\/p>\n

Obviously, the declines aren’t good for those who\u00a0sell<\/i>\u00a0these commodities. But, those of us who\u00a0buy<\/i>\u00a0these commodities in the form of cars, houses, utility bills and other products and services ought to be helping the world economy as we buy more stuff with the freed up income.<\/p>\n

As true as that may be, these commodity price declines also signal something else: exceptional weakness in the world economy. It is no secret that economic growth in Europe has been stalled for some time and is now receding. The European Union’s confrontation with Russia over the Ukraine conflict and the resulting tit-for-tat economic sanctions levied by both sides are only worsening the economic climate.<\/p>\n

Russia has been hit by the double whammy of oil price declines and sanctions\u00a0which are probably sending the country into recession<\/a>. And, now the new anti-austerity government in Greece seems to be pushing Europe headlong into another Euro crisis as\u00a0worries about Greek debt default spread<\/a>.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Commodities crash: Bad news for the world economy, but is anyone listening? Reading the general run of financial headlines might lead one to believe that price declines in those commodities which are highly sensitive to economic conditions such as\u00a0iron ore,\u00a0copper,\u00a0oil,\u00a0natural gas,\u00a0coal, and\u00a0lumber\u00a0are good on their face. Obviously, the declines aren’t good for those who\u00a0sell\u00a0these commodities. […]<\/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":[147,151,1851,2656,195,200,1362,3112,554,588,1775,1264],"class_list":["post-5152","post","type-post","status-publish","format-standard","hentry","category-economics","tag-coal","tag-commodities","tag-commodity-price-collapse","tag-copper","tag-debt","tag-default","tag-iron-ore","tag-lumber","tag-natural-gas","tag-oil","tag-oil-price-collapse","tag-recession"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5152","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=5152"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5152\/revisions"}],"predecessor-version":[{"id":5154,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5152\/revisions\/5154"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}