“Throughout history, there have been bull markets in raw materials every 30-40 years. Supply and demand regularly get out of balance, leading to recurring periods of rising (and declining) prices. During the 1980’s and 1990’s, natural resources had been in a bear market for about 25 years (e.g. sugar peaked in 1973, oil in 1981, etc.). Declining markets attract little in the way of increased productive capacity, and this bear market was no different. Virtually no one built an offshore drilling rig, or opened a lead mine, or developed a sugar plantation during this period. Quite the opposite – productive equipment deteriorated, was cannibalized or scrapped while other capacity closed and/or depleted.”….read more HERE