Trader Dan Norcini
The Goldman Sachs Commodity Index is currently down 2.4% on the year. Grain and energy prices are continuing their descent. Meat prices are following. As written many times here over the past couple of months, meat prices will be coming down by the time we reach the 4th quarter. They are already breaking down at the wholesale level.
Seriously, I would like any OBJECTIVE reader to take one look at this chart and then tell me, with a straight face, that inflationary pressures are on the rise as it relates to the cost of tangibles.
If that is not enough, here is a chart of the Unleaded Gasoline.
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