With crude oil hogging the headlines, one tends to forget that metals have been especially pathetic performers in the last three months. Lead is 37% cheaper now than on January 1. Nickel has fallen 30% this year, the worst among all LME-traded metals. Even gold has remained flat on average after shooting up 10% in the beginning of 2008 while silver has barely budged. Platinum fell 5% in July. Palladium fell for a 10th session on Friday. Natural gas has fallen more than twice the distance that oil has. The plunge from $13.50 to $9 marks a 33% reversal. Wheat is 7% cheaper than 2007, after shedding 8% since March. With coffee, sugar, cotton, palladium, aluminum, platinum and copper all clocking single-digit price increases over the first quarter of 2008, the big question is has the commodity bubble deflated? And most important, who do you blame for your pain? The answer lies mired in a confusing slush of demand-supply fundamentals, market sentiment and threats from regulators.   more »