As I was doing the rounds of the blogs today, I came across a comment by Mike Shedlock that resonated with me because it had been a while I meant to write something about purchasing power.
Mike astutely notes: “Who (besides the Fed and seriously misguided economists) does not like falling prices?
Read more at http://globaleconomicanalysis.blogspot.com/2012/09/can-fed-fight-droids-and-win-apples.html
As that comment was pinging around my head, I happened to look at a set of charts I had not consulted in quite some time…. and I came across this chart of crude prices… my charts available here: