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Peter Schiff: Commodity Boom Isn't About Economic Growth; It's About Inflation
Commodities are booming. A lot of people seem to think this is a sign of pending economic growth. But in his podcast, Peter Schiff said it's really a sign of inflation.
Most of the investment world continues to focus on the stock market and they're not really paying attention to what going on in the commodities markets. And as Peter put it, that's going to have a big impact on what happens in the supermarket.
Agricultural commodities, in particular, are on fire. We're seeing five-year highs on many commodities. Corn was up 5% on Wednesday (Jan. 13). Wheat was up 4.73%. Oats and rice were up over 2%.