LAST TIME COMMODITY PRICES CRASHED LIKE THIS?…Immediate Aftermath was Financial Crisis

http://www.blacklistednews.com/Not_Just_Oil:_Guess_What_Happened_The_Last_Time_Commodity_Prices_Crashed_Like_This?…/39836/0/38/38/Y/M.html

NOT JUST OIL: GUESS WHAT HAPPENED THE LAST TIME COMMODITY PRICES CRASHED LIKE THIS?…

It isn’t just the price of oil that is collapsing. The last time commodity prices were this low was during the immediate aftermath of the last financial crisis. TheBloomberg Commodity Index fell to 110.4571 on Monday – the lowest that it has been since April 2009. Just likejunk bonds, industrial commodities are a very reliable leading indicator. In other words, prices for industrial commodities usually start to move in a particular direction before the overall economy does. We witnessed this in the summer of 2008 when a crash in commodity prices preceded the financial crisis in the fall by a couple of months. And right now, we are witnessing what may be another major collapse in commodity prices. In recent weeks, the price of copper has declined substantially. So has the price of iron ore. So has the price of nickel. So has the price of aluminum. You get the idea. So this isn’t just about oil. This is a broad-based commodity decline, and if it continues it is really bad news for the U.S. economy.