Monday, February 25, 2008
Iron Ore Jumps
"Japanese and Korean steelmakers agreed to a 65% increase in the price of iron ore with Brazilian mining power Cia. Vale do Rio Doce, boosting the fortunes of big mining companies at the expense of steel producers and their customers world-wide", WSJ, 19 February 2008.
Inflation is currently running about 4% per year, isn't it? Let's ask Helicopter Ben what the current inflation rate is.