http://www.indexmundi.com/commodities/?commodity=iron-ore&months=360
In 1989 it was $12, in 2002 it was $12, how is that keeping up with inflation? Most of the time the price hovered between $10 and $15. Commodities don't work like bread, they don't match inflation, IO was 3x the price it is now 5 years ago, bread has stayed the same/ matched inflation. There are many commodites that are back to their long term averages already after the bubble, sugar is now at the same price it was 25 years ago, wheat is back around the same price it was 30 years ago nowm guess that's keeping up with inflation?
Next Mining Boom Coming, page-28
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