Not Your Grandma's Deflation

As the Financial Times explained: "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've said it wasn't possible to explain in advance which goods would climb in price (or when). I just knew that as the money leaked out, prices would ultimately rise. Now they have, to some degree, in various items. Steel is a great example along with other base metals, oil, health-care insurance, taxes, etc.