Alcoa’s 6.3% loss tells the real story of stagflation in the world – what is happening behind the Wall Street?
Stanley Storr
Sep. 26, 2005

In early trading, the Dow Jones Industrial Average was 0.2 per cent off at 10,398.81, while the S&P 500 index eased 0.2 per cent to 1,212.67. The Nasdaq Composite index edged off 0.1 per cent to 2,108.

What was really significant, Alcoa, a component of the Dow industrials, lost 6.3 per cent to $24.28 in early trading after the world’s largest aluminum maker cut its profits forecasts due to higher costs.

That tells the real story. The demand for metals are going up but the manufacturers are looking at lower profits due to higher energy costs. The higher fuel cost will drag the world economies to its knees. At the same time, the they will raise prices in sectors where these enough demand and pricing power.

The metals for example will go up in price , and so will all other commodities. But the wages will lag behind very heavily as companies go for further automation, outsourcing and lower cost labor. The effect will create stagnation and eventually depression in world economies. At the same time prices will continue to climb for now.

Alcoa’s 6.3% loss tells the real story of stagflation in the world – what is happening behind the Wall Street?
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