The commodities "swan" playing out

A few weeks ago we suggested the "next big black swan" and referred to Albert Edwards most recent logic on commodities: "But I still see commodity prices plunging just like in Q4 2008, back then taking headline CPI inflation from +5% to -2% in just 12 months." We also wrote: "It looks like consensus regarding rates and commodities moving only higher could be in for a wild ride..."
The chart shows various commodities indexes and the most recent crash...