For one thing, the dollar is soaring.
Can you show me where you're seeing a soaring dollar?
I'm looking at the month of May 2012:
http://stockcharts.com/h-sc/ui?s=UUP&p=D&b=5&g=0&id=p08517603754The dollar has been in a bull market since mid-2011 when it made its low. Yet, as I said, I don't expect to see the really major moves up until the YOY(PPIFGS) moves decidedly below -6% and the broader economy sinks into a deflationary spiral.