I would like to hear some Bitcoin economics professor's opinions on this interesting article:
http://www.dailykos.com/story/2015/08/06/1409378/-The-Commodity-Market-Wipeout
I was a bit shocked by the statistic at the end of the article:
China has used more concrete in the last three years (6.6 gigatons) than the US used in the 100 years of the last century (4.5 gigatons)!
http://www.dailykos.com/story/2015/08/06/1409378/-The-Commodity-Market-Wipeout
I was a bit shocked by the statistic at the end of the article:
China has used more concrete in the last three years (6.6 gigatons) than the US used in the 100 years of the last century (4.5 gigatons)!
Resource rich countries are the most affected. There is pressure on currencies like the Canadian, Australian and NZ dollars because of the commodity rout. Russia, which as part of BRICS was supposed to drive world growth, is also in the doldrums because of the crash in crude prices. But somehow, this collapse doesn't seem to worry the world powers.