Something is amiss. Today we have oil at $98 barrel, gold at $824/oz, and most commodities at historic high prices. Even BHP is looking to double the price of iron ore for the coming contract year. By all measures we should have high inflation and possibly be heading into recession (stagflation?) I think the economy has been experiencing the "frog in pot of water" slow heat treatment i.e. slow death without knowing. rather than the shock treatment of being dropped into the pot of hot water. I do not believe the economy can sustain these cost pressures indifinately. It has the look at smell of the 1970's all over again. Stagflation next?