|
|
"A comprehensive, collaborative elections resource."
|
Inflation warning etched in steel
|
|---|
| Parent(s) |
Issue
|
| Contributor | kal |
| Last Edited | kal Apr 05, 2010 01:05pm |
| Logged |
0
|
| Category | General |
| News Date | Monday, April 5, 2010 07:00:00 PM UTC0:0 |
| Description | Pretend it's 1933, as so many in the deflation camp think it is or soon will be (at least from the price-of-everything standpoint). If last Wednesday you reached for a copy of that day's Financial Times, would you have expected to see the following headline -- "Steel prices set to soar: Everyday goods will cost more" -- in large print above the fold?
I don't think so.
The newspaper went on to say: "Global steel prices are set to rise by up to a third, pushing up the cost of everyday goods from cars to domestic appliances, after miners and steelmakers yesterday agreed to a ground-breaking change in the iron ore price system."
All along, as I've talked about money printing, I have said it was not possible to explain in advance which goods would climb in price (or when). I just knew that as the new money was put into circulation, prices would ultimately rise. Now they have, to some degree, for various items. Steel is a great example along with other base metals, oil, health care, insurance and taxes.
|
| Share |
|
|
2¢
|
|
| Article | Read Full Article |
|
| Date |
Category |
Headline |
Article |
Contributor |
|
|
