So far we’ve discussed biflationary effects and feedback loops. View the slideshow Symbols included in the slideshow: AVB, USO, OIL, ONO, IPE, GLD, KO, EEM, JNJ, DBA, MOO, MON The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Another way to say this is that inflation shows up where demand allows it--the proverbial path of least resistance—which is not luxury yachts and large houses but essential assets that are widely available and non-substitutable: energy and food come quickly to mind.