Are We at Another Deflationary Inflection Point Now?

The chart we looked at in the previous article displays total GUSDL and my IDW, both starting from a base of 100 on January 31, 2005. You can notice a small down turn in the GUSDL, but to get a real sense of the current direction of GUSDL, you need to check out the chart below. The year-over-year GUSDL is now falling off a cliff! From the panicked Fed-driven annual growth rate of nearly 48%, we have come down sharply to about 25%. Most of that sharp decline has resulted in the last few weeks. In my view this may be…