Commodities boom as credit goes bust
Food price increases hurt consumers in poor countries most, but provide a bonanza for investors starved of other enriching opportunities.
The widespread and rapid rise in food price inflation in Asia has caught analysts and policy makers by surprise,ö writes Peter Morgan, an economist at HSBC, in a report published in the middle of April.
ItÆs hard to see why. For several years, pundits, such as the commodity market guru Jim Rogers, have been spelling out the case for buying precious metals as a store of value against a debased US dollar for base metals because of ChinaÆs march...
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