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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 08/28/2009 : 15:53:09
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The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
Posted - 08/30/2009 : 00:50:27
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Sometimes I like to read David Morgan's articles, but sometimes I feel like he's another cheerleader. But this article was pretty good. What I was really surprised to see was on page 2 when they were speaking of potential mine worker strikes, and how much the copper supply would be affected. I know from personal experience in South Africa that the people are not at all happy with wages. And it's not just the miners. Public service workers want a 15% raise this year, and a 25% raise next year! I don't know much about Peru or Chile, other than they are the copper breadbasket of the world. So, if these labor forces align, then the potential for severe copper shortages is pretty high.
So I wonder... how much has the market baked in these possible strikes to the price of copper? It was back in April that I was hearing all of this from South Africa, and copper is much higher today than then. But silver hasn't seen the same percentage increases. But then again, it did not see as bad as a fall from the top like copper did. |
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