País commodity dependiente

Según este editorial del WSJ el precio de los commodities está en una burbuja generada por la política monetaria de la FED. Conversando con un analista del mercado de granos nos informaba de la caída abrupta de la soja en estos últimos días.

"This is further evidence that the commodity price boom is rooted in the Fed's weak dollar policy, and not in a change in "relative prices" due to rising global demand. Commodity prices have soared since September in particular, even as the world economy has slowed down. The "global demand" argument has become a Wall Street-Washington excuse for easier money in the mistaken belief that the Fed can inflate away U.S. credit problems. Instead, the commodity boom has hurt consumer and business confidence precisely when they are most needed. The Fed still has a long way to go to restore its credibility, but last week was at least a start."