FAST FIVE: John Authers: Watching For "Unrest" Over EM Food Prices And Whether Elon Musk Has "Jumped The Shark"
He notes that while the 2008 price spike was driver by oil, there's no such pressure now.
With America's twin deficits approaching 20% of GDP, it is difficult to get bullish about the US dollar, especially against commodities and hard assets.
“The narrative involving Musk and cryptocurrencies has taken a much darker turn,” Authers writes.
Hubris, or “pride comes before a fall” is one of the oldest human narratives.
And as there have been plenty of signs of investment bubbles, particularly in crypto but also in the range of growth and “meme” stocks that support them, a burst bubble looms as another potentially self-fulfilling narrative.