Are Stocks the Next Oil (or Uranium, Copper, Silver)?

See:  2007, when everyone was convinced of ‘Peak Oil' and there were websites named ‘Peak Oil', ‘Oil Drum', etc. constantly reinforcing the mania.

I remember being away on business one day in 2007, with nothing better to do in my hotel room than watch the congressional debates about ‘peak oil' and what to do about the evil speculators that were driving prices up. I enjoy watching a good mania as much as the next guy. I realized that what we were seeing was ‘Peak Hysteria' with respect to this phenomenon. I thought, ‘Yup, Prechter's right'.

See: This hilarious video someone made about those who promoted the pitch to the public. Some of these people have re-tooled their scripts for a deflationary world today and others keep fighting the good fight I guess, or are living in a hole somewhere. Joe Kernan actually did a great job with the mania's star promoter. “I'm the expert you guys, not you…”  –T Boone Pickens (ha ha ha).

Moving on, what do the charts below say about the stock market? The oil mania was a manifestation of inflation. Inflation is willfully deployed against what is a structural global deflation that is always in play and trying to exert pressure. The charts below show where the inflation went on this cycle.

Oh, it's Biiwii… he's a perma bear!  Well maybe, I sure do not think the stock market is sustainable and I sure do think it is getting the same treatment as Oil circa 2007, Uranium 2007, Copper 2010, Silver 2011, etc. But I am more than willing to call it ready to bounce or even not yet ready to end its bull market, if only an interim correction ends up being the most probable view.  But tuning out all that casino patron stuff, what does this big picture monthly chart say to you?

What does this chart say to you?