Post by TheCollector on Jan 14, 2015 8:34:55 GMT -6
Let me give a brief explanation of what this topic is. I work at a recycling plant. We do the majority of the buisness with refiners in China. I also have to keep an eye on the stock market 24/7. We buy precious metals from the public. I work with brokers, analysts, and everyone you could imagine being involved. This is not a rant. This is a scary amounts of drops.
A recycling center recently went out of buisness bringing in 5 million+ pounds, more than previous years. I've been to auctions this year, buisness closings. If I total the amount of people who lost their jobs, 7.5k people, all local businesses.
Copper has been dropping every singe day. Brass has just been added to the list of metals going down in value. These are huge drops of 10 cents a day, every day. When commodities go down the rest of the market follows soon after. Why is it so drastic? China's economy is no longer in a boom and is slowing. This is when the inflation you have heard so much about starts to kick in.
To give you a better idea of what these drops are compatible with, 15 years ago copper was at this price. Like I said it's dropping by the minute non-stop.
What's your take on these drastic drops? If I haven't summed this up well let me know and I can refine how I said it.
A recycling center recently went out of buisness bringing in 5 million+ pounds, more than previous years. I've been to auctions this year, buisness closings. If I total the amount of people who lost their jobs, 7.5k people, all local businesses.
Copper has been dropping every singe day. Brass has just been added to the list of metals going down in value. These are huge drops of 10 cents a day, every day. When commodities go down the rest of the market follows soon after. Why is it so drastic? China's economy is no longer in a boom and is slowing. This is when the inflation you have heard so much about starts to kick in.
To give you a better idea of what these drops are compatible with, 15 years ago copper was at this price. Like I said it's dropping by the minute non-stop.
What's your take on these drastic drops? If I haven't summed this up well let me know and I can refine how I said it.
