Later today we should see evidence to back all that talk about our strong terms of trade and rising national income. For over three years now the Reserve Bank’s commodity price index has been telling the story of soaring prices and rising volumes and returns; with various federal and state governments and a host of companies in and servicing the resources sector feeding off the boom. Now later today we will see the May trade figures from the Australian Bureau of Statistics. The optimists are forecasting the first surplus in around six years or more, and the cautious are saying a much smaller deficit, perhaps so tiny in the scheme of things to be not very meaningful. And, after the dramatic improvement in April, and with a further improvement in June, we could get a sharply lower current account deficit for the June quarter and one better than expected ...