Cobwebs in the market

The ever-insightful Helmut Pastrick, chief economist at the Credit Union Central of B.C., offered his insights on where the B.C. economy is heading in 2006 to the local chapter of the National Association of Industrial and Office Properties yesterday. Besides the market forecasts, I was introduced to cobweb cycle theory. Cobweb cycles are common in agriculture, where growers often increase production until greater supplies depress prices, the market corrects and the cycle starts over. Pastrick mentioned the concept in his analysis of the impact a lack of consensus about interest rate trends will have on demand for capital.

Earlier this week it was potatoes, next week it’s the offerings of the Vancouver Playhouse International Wine Festival tantalizing my palate. Working the festival’s various tasting events into a schedule jam-packed with deadlines is one of those feats I’m always game to accomplish. – Fortunately, while I’m off sipping, swirling and spitting, I can count on recent print and broadcast publications to let folks know I’m not slacking off completely.