Tig, new shoes wont solve the issue, you need to get some orthodics. Your feet and your back will thank you as fallen arches are detrimental to your spine when you are doing high impact sports such as running. If you dont sort it soon you will also start feeling it big style in your knees.

Orthodics are a bit pricey but generally last a lifetime. Fallen arches are a nightmare and if not sorted you will have to resort to water aerobics :)

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"Diplomacy is the art of saying 'Nice doggie' until you can find a rock - Will Rogers"