by your definition OIL is a bubble because it would be the most non-perishable commodity on the planet.
Oil, gas, and electricity are in a separate category. Political forces affect oil prices as much as market forces. There may be some bubbliness in oil, too.
you never considered that there actually may be a genuine shortage in certain grains. Wheat for example.
Genuine shortage, maybe. Climate change, maybe. Change in input costs (pass-through of high oil prices), probably. Enough of all that to justify 80% appreciation of wheat and soybeans since last June? And why do we see appreciation in soybeans, but not in meat?
How about the following statement which would be just as hard to refute: The only reason we EVER see (price) inflation is because of bubbles in various goods and services
Price inflation can be caused by other factors, including overheating economy (low unemployment) and printing presses. Economy is clearly not overheating and printing presses are stopped.
But you argue there hasn’t been any of that either. Geez I wonder where all the money comes up from to blow all the bubbles then?
There hasn’t been any monetary inflation for the last 12 months. Does not mean that people don’t have any money to blow up bubbles. People have TOO MUCH money.
