StateofConfusion

Commodities: Bubble or Not?

Phillips, richjoy and others have stated reality well.
What is lost in these discussions is the population explosion which was warned about and was openly discussed in the late 80's and early 90's (I think). Now, you rarely hear this discussed because religious groups only gain power by having lots of kids. This is true of Islam and Mormons (I know one Mormon that has 10 kids) and some other fundamental groups. Growing population demands more of everything and we do have limits on providing them as well as accomodating the pollution and waste.

Climate change (regardless of cause), demand, resource limits will drive competition for energy and food. The US government continues to allow high immigration here and this will create more problems of us.
Idiotic policies (when did Bush ever promote anything but more oil and finally corn ethanol?), the Iraq war, huge deficits, illegal immigration, too much legal immigration, etc. are destroying the economic super power. Most countries (in the west at least) want the US to shoulder world burdens while they work on their economy.

We can't control world population but we can control ours. It may be too late with all the religious, latino activist groups and political pandering, to save ourselves. Because of the above issues, we need population growth control, massive investment in renewable energy, conservation and a ban on development of farm land to have a chance. It may not be a straight line up but commodities and energy will stay in demand for a long time to come. In the U.S., Bush will be known as a destroyer of worlds, ours.