umm, historically ramping commodities is the first leg of a new bull market. Consumption abates, then prices fall back ushering in the second leg, a relief rally if you will. Technology is the last leg.
Odd...I thought "It's different this time" was the last leg... :-)
True, except that much of the upturn in commodities is probably due to huge and rising imports to China and India. They, in turn, rely on us to buy their products. American industry is doing reasonably well at the moment, at least what is left of it, but there are some ominous signs there, too.