David Pauly from Bloomberg writes that the commodity markets must be near a peak because he thinks everybody is invested there.

Analysis: As usual the media gets it wrong. Has there been more intrest in commodities? Absolutely however as Jim Rogers pointed out there has been no investment in any infastructure or capacity in decades. Yes producers will react but it takes time to build a mine (10 years or more depending on the local) and as Rogers has pointed out, even if a large oilfield was found it would take years to bring it online. I think there will be corrections along the way but this thing is going to levels that will make the internut and housing bubbles look sane.

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