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Eighteen months ago, when the world was awash in asset bubbles, there was perhaps no market more overheated than commodities. Prices of everything from iron ore to palm oil to corn reached dizzying heights. Crude oil nearly quintupled in five years; rice tripled in only five months. World Bank President Robert Zoellick called rising food and oil prices a "man-made catastrophe" that had the potential to quickly erase years of progress in overcoming poverty. Protests and riots over high prices for necessities erupted across the developing world. Pundits dusted off Malthusian theories that the planet was physically unable...
...course, different types of commodities will react differently as the global economy improves, based on their own specific supply and demand conditions. This makes timing a turnaround complicated. Rogers says he expects commodities prices to be among the first to rise, out of all asset classes, when economic growth begins to return. Other experts argue against a rapid rebound, because inventories are high for commodities such as oil, and because demand for natural resources has been so thoroughly squelched in some industries that it may not fully recover anytime soon. Francisco Blanch, head of commodities research for Merrill Lynch...
...money management newspaper Pensions & Investments. HMC announced in February that it would lay off roughly a quarter of its 200 employees, mostly support staff, in an attempt to “re-balance and re-engineer the organization.” Real estate has traditionally been a difficult asset class to valuate and provides very limited liquidity. According to a University statement, real estate investments currently make up approximately 7 to 8 percent of the University’s endowment—a slight drop from the 9 percent, or almost $3.5 billion, allocated in 2008. Cummings will work with...
...stranger to deficit spending, Japan approved this month a new Policy Package to Address the Economic Crisis worth $156 billion, its third fiscal stimulus package since September - and the umpteenth attempt to jumpstart the economy since the bursting of the asset bubble way back in the 1990s. None of the previous attempts worked, in part because much of the money went to wasteful public works spending in the bailiwicks of ruling-party politicians. The latest spending appears to make more economic sense, targeting job-creation, support for the equity market, increased transfers to regional governments, health-care spending, and energy...
...chair of the Congressional Oversight Panel for the Troubled Asset Relief Program (TARP), Warren pretty much supervises the bailout...