Agreed. Demand destruction seems to be picking up steam on a global level. Prechter at ElliotWave’s been saying this for a while now as well. But if the 1970’s are any indication, we could have a strong recession as commodities make big gains. Given the state of global finance, I think this could happen, but might take a little time to get going. Perhaps I’ll wait a few more months before jumping in. But I agree that the long term trend seems very strong.
