We haven't even seen the effects of oil over $120/barrel will have on the other baskets of commodities. Cost bases have exploded which will actually lead to reductions in output. Until there are mountains of all these commodities again struggling to be moved by producers I think it is fair to say this is a buying opportunity. There are no significant inventories of ANYTHING in the world at the moment. Get out into the real world of production and you'll discover this is one bubble that is a long way from being pricked. The deflating US dollar will underwrite this ...
