Something funny happened on the road to Dow Jones 13,000 - the car ran out of gas, and the driver noticed what the latest and (literally) greatest price of unleaded is...
[4]
and perhaps in even clearer language...
[5]
Despite all the appearance of wealth creation in the US equity markets, the S&P buys 10% fewer gallons of gas for your car than its average since the MAR09 lows (and 20% fewer than its pre-QE1 peak) with the last few weeks of action also removing almost 10% of purchasing power even as stocks soared...
Charts: Bloomberg
(h/t Omid Malekan)