122.2 Commodity Prices Are Telling Us This… 

———Ep 122.2 Summary———
We review palladium, copper and iron ore – all metals and minerals that peaked in value in May (lumber too). Some commodities continue to rise in value, specifically energy. How do we reconcile the deflationary/disinflationary former to the inflationary latter? Also, US auto sales.

Macropiece Theater with Alistair Cooke (i.e. Emil Kalinowski) reading the latest essays, blog posts, speeches and excerpts from economics, geopolitics and more. Interesting people write interesting things, why not listen and hear what they have to say? You could do worse things with your time (i.e. Bloomberg, CNBC, et cetera). Recent readings include thoughts from George Friedman, Lyn Alden, Daniel Oliver, Michael Pettis, the Bank for International Settlements and yes, even Karl Marx.

———See It———

Twitter: https://twitter.com/JeffSnider_AIP
Twitter: https://twitter.com/EmilKalinowski
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL
Art: https://davidparkins.com/

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———Ep 122.2 Topics———

00:00 INTRO: A review of palladium, iron ore, copper and lumber prices.
00:44 What condition is the US automotive industry in? A review of assemblies and sales.
01:51 Can logistical problems explain the poor performance of US auto sales for September?
05:39 Logistical problems yes, but not solely logistical problems explain poor US auto sales.
12:55 The commodity-intensive goods-sector was ‘all’ that was allowed to function in 2020.
15:23 Palladium prices peaked in May.
18:07 Iron ore prices peaked in May (well, maybe a smidge higher in July).
19:49 Copper prices peaked in May.
20:48 Lumber prices peaked in May.
24:57 A review of broad commodity categories: metals, precious metals, agriculture, energy.
26:24 Crude oil / energy commodities are lagging indicators concerning economic growth.

———Ep 122.2 References———

What’s The Real Downside To Some of These Key Commodities?: https://bit.ly/3oVIsZd
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7