The political economy deserves a precious medal.

I recently mentioned the potential for a major crisis of confidence ... sparked by seizures, scandals and distrust in the financial system ... that would counteract (and even overwhelm) the reflationary trade to some degree. That, of course, assumes something will happen beyond the control of politicians and get the snowball rolling. While possible, I suppose that was a pretty big assumption.

Many actions taken by policymakers to influence the economy are readily apparent, e.g. quantitative easing, fiscal stimulus, new legislation, etc. But there are items that go largely unseen that are hugely critical in controlling the political economy.

Commodities Essential. 10 August 2012

Trade Essentials.

No new recommendations or adjustments at this time.