I have been calling for a base metals bust for some time, fueled by a slowdown in China. Michael Pettis at China Financial Markets has been saying the same thing. Indeed, it is analysis from Pettis that influenced my views in the first place.Pettis now believes commodity prices will collapse by as much as 50% over the next few years. His rationale is solid. Here are a few snips from a recent Michael Pettis email in which he outlines the case.
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