Look, I’m a conservative, but this chart is totally meaningless. Late July and into August was when a global panic was beginning to gather, and demand fell off a cliff. It had nothing to do with what you’re suggesting. My birthday was around the same time, but that also didn’t cause the step change – in fact there was no step change but a long grind lower (much lower) as the impending recession became more and more serious.
Look, I’m a conservative, but this chart is totally meaningless. Late July and into August was when a global panic was beginning to gather, and demand fell off a cliff. It had nothing to do with what you’re suggesting. My birthday was around the same time, but that also didn’t cause the step change – in fact there was no step change but a long grind lower (much lower) as the impending recession became more and more serious.