The New Great Rotation: Commodities into Bonds

You probably heard the chatter over the past few quarters: “The Great Rotation” was about to unleash a new leg up in Equities. Bonds were going to be sold, equities purchased, and a new leg up was starting. The story goes something like this: U.S. Treasury Bonds had enjoyed a 30 year bull market, and […]

Great Graphic: A Critical Imbalance

This must be a Great Graphic.  Both Zero Hedge and Walter Russell Mead posted it. It is from the Food and Agriculture Organization (FAO) of the United Nations. It shows the significant deterioration of China’s food self-sufficiency and the improved US agricultural surplus. Europe is roughly in balance after previously being an importer. Given the intensive use of water to […]