Superb interview with Jeff Currie, Global Head of Commodities at Goldman Sachs.
He says we are in a commodities supercycle and what defines a supercycle is a 'structural rise in demand'.
He thinks elevated prices for commodities are being driven by three factors:
1) Aggressive re-distribution policies by governments all over the world ie the transfer of wealth to the poorer members of society fundamentally drives demand.
2) Structural underinvestment in fossil fuels over a long period of time and this occurred because returns were so poor
3) Supply Chains that are breaking down due to de-globalisation
I strongly encourage you to listen.
Best
V
https://podcasts.apple.com/au/podcast/goldmans-jeff-currie-its-a-commodities-supercycle/id1056200096?i=1000538907821
Superb interview with Jeff Currie, Global Head of Commodities at...
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