Corporate America has lost about 95 percent of its value when measured against the Barrel Standard. For one thing, there isn't much farther to fall. And just as whale oil was replaced when it became too expensive, petroleum will be replaced when IT becomes too expensive. Not at all. It is ideas, techniques and human organizations that create economies and value, not resources.
Stock prices are up, with all the indexes exploring new highs.
And the dollar is strong once more. In the Big Picture, the engines of commerce that are one of the great achievements of Western Civilization are still on the bargain counter. You can get some idea by taking a close look at the pricing of some major companies in dollars, barrels of oil, and ounces of gold. Products Barrels 42.20 1.60 0.80 Gold, oz. We are not talking about a minor adjustment.