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If It's in the Ground, It Can Only Go Down.(International Edition; BUSINESS)(commodity prices)(Essay)

Newsweek International

| April 20, 2009 | Sharma, Ruchir | COPYRIGHT 2009 Newsweek, Inc. All rights reserved. Any reuse, distribution or alteration without express written permission of Newsweek is prohibited. For permission: www.newsweek.com. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Ruchir Sharma

As playwright Arthur Miller once observed, "An era can be said to end when its basic illusions are exhausted." And most of the illusions that defined the late global economic boom--the notion that global growth had moved to a permanently higher plane and housing prices from Miami to Mumbai would rise indefinitely--are now indeed exhausted. Yet one idea still has the power to capture imaginations and markets: it is that commodities like oil, copper, grains and gold are all destined to rise over time. Lots of smart people believe that last year's swoon in commodities prices represented a short pause in a long-term bull market.

It's a ...

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Source: HighBeam Research, If It's in the Ground, It Can Only Go Down.(International Edition;...

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