Back in 2013 I noted that the thorium price had turned positive. So, I said, someone must be making a thorium reactor. China announced their thorium reactor in 2021.
Back in 2013 I noted that the thorium price had turned positive. So, I said, someone must be making a thorium reactor. China announced their thorium reactor in 2021.
Scott Sumner famously said “never reason from a price change”. Have you just proved him wrong, or is he still right in most instances?
He tends to be arguing macro with that one.
The price change maxim tends to be used by macro “economists”, such as Simon Wrong-Lewis to demonstrate that Brexit is harmful when the pound rises against the Euro (never reason from a price change) but then he forgets about it when the reverse happens. It is something to bear in mind, certainly, but it is only brought out when the price effect is not the one they expect
Also, Tim’s example is from a negative price to a positive one – which would be fairly bloody significant, as opposed to the price of Mars bars going up 5p.
What Ducky says… Such a reversal indicates that someone has found a use for previously “worthless” stuff..