Goldman’s “commodity supercycle” turns dumpster fire apology

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Who can forget Goldman and Zoltan Pozar’s commodity mania of 2022 when even a declining China was positive? Super cycles all around it was!

As we warned then, supercycles do not begin with minor wars triggering panicked prices in narrow markets. These are the circumstances of short-term price spikes, supply responses, and price crashes.

Not to mention, that Goldman said a declining China was irrelevant.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.