Not sure why I bother with this, since Berserkers generally have the attention span of adolescent groundsquirrels, but check out the correlation between petroleum prices and your favorite French drink.
Very interesting. Thanks, Mike.
The thoroughbred market is also tied to oil prices, I know, though I don’t know if anyone has calculated the correlation coefficient. When the price of oil collapsed in the recession of the early 80s, horse prices followed it down as Arab money drained from the horse auctions.
One question I have (and I haven’t read the full report): If it’s Bordeaux prices in dollars versus oil in dollars, then the correlation may in part reflect fluctuations in the dollar, since both products tend to rise in price in dollars when the dollar declines against other currencies, and fall when the dollar rises.
I’d like to see the correlation between broader commodities baskets, emerging market growth and global gdp changes by sector (stratified preferably) to get some more insight on what it means. Of course, I can already begin to formulate a reasonable hypotehsis but I’d think this is more economic banter than wine chit-chat.
Will someone post a summary for the attention-span impaired? TIA.
No summary (regardless of how simplistic) will suffice for those that can not visualize BBQ outside of Pork.
or just give us the points it scored.