Besides iron ore, when you also look at timber, like Plum Creek (PCL), which has dropped from $54 to $40 and change in less than 12 months, it sure looks like we are in a severe deflationary spiral in commodities. I really though by now that we would be entering a period with a slight uptick in inflation. The 10 year bond is also telegraphing slow growth. Some say back to the 2.2% area. The FED is screwed..