tag:blogger.com,1999:blog-6616959642391988608.post733658730051503920..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Commodity recapScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-6616959642391988608.post-63082457834191032952011-11-29T10:42:25.500-08:002011-11-29T10:42:25.500-08:00Benjamin: thanks for bringing the NYT comment to m...Benjamin: thanks for bringing the NYT comment to my attention. Bill Keller (the author who wonders who in the heck I am, and the former editor of the NYT who arguably contributed much to that venerable institution's near-demise) is apparently unaware that he was one year ahead of me at Pomona College back in the day; that may be due to the fact that I'm among a very small minority of Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-57336459218873512502011-11-29T10:11:44.172-08:002011-11-29T10:11:44.172-08:00BTW, there was a snotty comment in yesterday's...BTW, there was a snotty comment in yesterday's NYT about Calafia Beach Pundit. <br /><br />That is regrettable. Why dismiss any point of view based upon the prominence of the person with that point of view?<br /><br />Bloggers are advancing the discussion of economics, including Calafia Beach. <br /><br />I happen to think "Money Illusion" by Scott Sumner, another "obscure&Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-46595431821292395282011-11-29T08:36:59.051-08:002011-11-29T08:36:59.051-08:00This comment has been removed by the author.McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-8672284211348021392011-11-29T07:34:52.672-08:002011-11-29T07:34:52.672-08:00We could see long-term soft oil prices and strong ...We could see long-term soft oil prices and strong economic growth in the years ahead. Indeed, this is a very plausible scenario. <br /><br /> So again, commodities would be telling us a false signal. <br /><br />Not sure commodities tell us much anymore, as demand id global and supply is sometimes regulated (OPEC).Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-54196920571446832802011-11-28T17:49:40.936-08:002011-11-28T17:49:40.936-08:00Following up on my previous comment:
From Reuters...Following up on my previous comment:<br /><br />From Reuters...Households are burdened by ever-rising energy costs.<br /><br />http://www.reuters.com/article/2011/02/10/idUS249737+10-Feb-2011+BW20110210Johnhttps://www.blogger.com/profile/06365403570563730880noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-51861364904768302712011-11-28T17:27:26.608-08:002011-11-28T17:27:26.608-08:00Regarding the graph depicting energy's share o...Regarding the graph depicting energy's share of personal consumption, is it based on average or median consumption. I suspect it is based on the average, which creates the illusion of stable to falling enegy costs, because average incomes are much higher than median incomes. Skewed by the top 1%,Johnhttps://www.blogger.com/profile/06365403570563730880noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-16297265907829887512011-11-28T16:30:58.535-08:002011-11-28T16:30:58.535-08:00It is not so much that demand is super strong, it ...It is not so much that demand is super strong, it is more about supplies. Commodity bull market during the 1930/40s and 1960/70s occurred during times economiands round the world struggled. But it was shortages that pushed prices up.<br /><br />You see even if demand falls, like in 1930/40s, and supply falls at a faster rate, we still have shortages and therefore a bull market!Tihohttps://www.blogger.com/profile/10336666083094327126noreply@blogger.com