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Jason Konior
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Along these lines, read this paragraph by Nobel Prize winner, Joseph E Stieglitz:
"Let's take a moment to remember what caused this mess in the first
place. Banks got themselves, and our economy, into trouble by
over-leveraging - that is, using relatively little capital of their
own, they borrowed heavily to buy extremely risky real estate assets.
In the process, they used overly complex instruments like
collateralized debt obligations."
This
is leading to steep contango in commodities. Contango is a situation
where distant futures are higher than spot futures indicating that
commodity traders believe prices will be higher as we go out. Thus
future food prices will be higher, putting added pressure on strapped
consumers and restaurants.
Konior Jason Fund Advisors :
Explanation -- On the April 3 site I stated that if the Dow and the
Transports could better their last secondary peaks, I believe there's a
good chance that the primary trend of the market had turned bullish.
Those January peaks were 9015.10 for Industrials, 3717.26 for
Transports. In another site I said that it is normal for a bear market
correction to recoup one-third to one-half of the ground lost during
the bear market.
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