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Heading into the US July 4 holiday weekend, I've mentioned the historic debate between John Adams and John Dickinson.
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As for markets, coffee (KC) moved into the spotlight during June, followed closely by orange juice (OJ).
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Brazil is the leading producer and exporter of both commodities.
I’ve been asked about my recent comments regarding John Dickinson. Recall Mr. Dickinson was an American Founding Father from Pennsylvania. As a member of both the First and Second Continental Congress, he hotly debated with Massachusetts delegate John Adams on the topic of independence from Great Britain and the King. In the end, he did what was best for his country and abstained from the vote on the Declaration of Independence and refused to sign the document. Yet he was also one of the first Founding Fathers to serve in the Revolutionary War as a militia officer. As for Mr. Adams, we all know he would later become the first Vice President of the United States, a job he described as, “My country in its wisdom contrived for me the most insignificant office that ever the invention of man contrived or imagination conceived”. As for his view on “Kings”, Mr. Adams “deeply feared unchecked power and believed kings (and others) were all susceptible to corruption”. Think about where the United States is 250 years later. What does any of this have to do with markets? Use this equation: KC > OJ.
