Hello and welcome to another bonus episode of the new abnormal and we thank you so much for being here.

Today we're going to talk to Rupert Russell about his new book Price Wars.

He's going to tell us about some of the underlying things that move our economy.

Welcome to the new abnormal Rupert Russell.

Thanks so much for having me.

Talk to me about the book. Give me like a 500 foot view.

Sure thing. So the book is called Price Wars and the thesis is that the chaos that struck

but she all of the world actually since 2008 has been the result of a series of price shops.

So that could be the rise, a sudden rise in the price of food globally.

It could be a sustained price in the rise of oil or it could be the collapse of a price.

So it could be the collapse of the oil prices also. There are collapse of coffee prices.

Each of these prices has huge impacts globally. We all need to eat some of the most

military aggressive states in the world. We're seeing right now like Russia or essentially oil

economies and all of these conflicts wherever they come from also produce huge waves of migration.

So chaos in one part of the world usually doesn't stay there. We usually get these migratory moves.

And so what ends up happening is you have a kind of a kind of engine of chaos that can begin in

the markets. It can start with a speculative play on food or oil. That then can create a riot

revolution that then becomes a civil war for example. That then produces refugees.

And then that then ends up causing chaos back in the West financial centres where it all started.

So you end up with these sort of butterfly effects bouncing between the commodity markets

and the real world and the book tells that story of how we've essentially been bouncing

between these two kind of kinds of chaos since 2008. So you're talking about commodities

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