Updating our Commodity (and other) Charts
May 10, 2009
Time to take a look at the value of various assets compared to real money, gold.
Crude oil fell to about its lowest in history.
Natgas also crashed.
Copper bounced off all-time lows.
Wheat grinding around all-time lows.
Corn and beans about the same.
Cattle has actually made new lows. The great rancher liquidation continues.
UK house prices could fall anothe 2/3rds in gold terms.
US house prices could fall another 50% in gold terms.
source: Casey Research
Wow. It’s pretty clear to me that we shouldn’t be spending more than 6% of GDP on healthcare. Which is more than the 7.5% or so that is already being spent by the U.S. government. A reasonable health system might have 5% state-run and 1% private discretionary.