Commodity prices may not fully recover - World Bank
<< Prices for oil, wheat, cotton, aluminum and other commodities which have fallen sharply since the Asian financial crisis may never fully recover, the World Bank said on Wednesday in a new report.
''If we are experiencing a structural break in commodity prices'' due to advances in technology and freer trade, ''we would not expect prices to fully recover from current low levels,'' the World Bank said. ''Commodity prices may have taken another step down in the long history of declining prices relative to those of manufactured goods.''
Over the past two years, prices for many primary commodities have declined more than 50 percent from previous high levels, the bank said in its inaugural Global Commodity Markets report. ''The declines have been equally sharp for agriculture, crude oils and metals.'' -- cont'd -- >>
More 'good news' for the world economy, I guess ... Not!
Rioting? Starving? Unemployed? Your kids can only get several part time service jobs at McDonalds, Wal-Mart, Home Depot? ... no problem, let them eat cake.
:-((
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