Over-supply is a harsh condition. Demand destruction is part of the self-correcting mechanism, but sometimes over-supply is so extreme, once-hot commodities become a burden to store and are literally sent to the scrap pile.
Given that most of the people in the world live in sub-par housing, this film footage is hard to watch:
The point is vividly made though. Remember all those commodities that the world was gobbling up a couple of years back? The best we can hope for is that the debris is now recycled and not just sent to the landfill. Sadly, given that bulldozers are the tool of choice here, I doubt recycling is a priority.
Cory’s Chart Corner
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