In Reply to: Would you trade this.... posted by Ed Gooding (VA) on June 11, 2022 at 06:31:19:
The June 10 inflation report shows that food prices soared by 10.1 percent and energy prices increased by 34.6 percent year-over-year. The persistent jumps in a wide range of commodities, including crude oil, natural gas, gasoline, and diesel, are expected to send the CPI higher in the coming months.
Since the beginning of the year, Michael Hartnett, Bank of America’s chief investment strategist noted, that natural gas prices have increased by 141 percent, gasoline by 91 percent, oil by 61 percent, iron ore by 45 percent, wheat by 39 percent, and soybeans by 33 percent.
Geopolitics, the end of globalization, and “extraordinarily misguided” energy policies of the world’s seven largest economies, including the United States, have resulted in a “commodities shock” unlike any other since the 1970s, Hartnett said.