Wednesday, December 19, 2007

Old Farts' Economic Gauge? Down

Copper has been called 'the metal with a Ph.D in Econ.'

It's also the Old Farts' economic measuring stick.


It's down 90 points from late September (~370 to ~280).

Now there's a bit of history here, too. Until 2005, copper traded around 125 (average over several years, spot prices.) It spiked beginning 2005--getting to ~350 and holding there through 2006 and most of this year.

Now the trend is down. Could be seasonal (last year it dropped fast year-end, then popped back up.) Could be long-run--but the trend-line doesn't drop too hard.


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