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Well, he already won the bet. I agree that we could see a spike in that ratio: commodities 2x while S&P 0.5x.
The point is just that as the world gets more productive, inputs become cheaper in real terms.
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Well, he already won the bet. I agree that we could see a spike in that ratio: commodities 2x while S&P 0.5x.
The point is just that as the world gets more productive, inputs become cheaper in real terms.
Maybe he's wrong... oil will be much higher after the recessionary shock. Pricing power moved to the producers