Commodities Bubble Interview
Some of you might enjoy my interview over at Benzinga Radio:
Here is the audio and a transcript: Stresses Seen at the Outer Surface of the Ballooning Commodities
Complex
If the link does not work, go here: http://www.benzinga.com/content/1954634/stresses-seen-at-the-outer-surface-of-the-ballooning-commodities-complex
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Wonderful interview!
The general sense I get listening to you describe how huge pools of money are desperately seeking out the next asset craze, is that the financial industry is no longer servicing the real economy. It has lost its purpose, has become self serving and is damaging the real economy in the process . Perhaps if capitol gains were taxed heavily, the financial industry would snap out of this relentless obsession and return to servicing the real economy, seeking out profits and dividends and generate some jobs as well. Its a shame that we have too much money and too much unemployment in the same room and no one can seem to bring them together.
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Jon Nadler • October 4th, 2011 at 3:00 am
Professor Wray, let me just say that you have hit the nail on the head, and squarely so. I have tried to point out the emergent commodity bubble (with special emphasis on gold) to everyone who remains in denial (as is usually the case within bubbles until it is too late) for about four years now. Kudos to you for trying to open people's eyes. Hopefully, an academic voice will be listened to with more attention than that of a market observer/commentator. Best wishes to you.
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