Skip to comments.The Dow Isn’t Really At A Record High (And It Wouldn’t Matter If It Were)
Posted on 03/05/2013 10:08:58 PM PST by Olog-hai
Just a quick, cranky reminder: Despite what you may have read, the Dow Jones industrial average did not hit a new high today in any meaningful sense.
After adjusting for inflation, the Dow was higher in 2000 than it is today. It was also higher in 2007. It would need to rise another 10 percent or so to hit an all time high in real (i.e., inflation-adjusted) terms.
There are other, less arbitrary indexes of the U.S. stock market, such as the S&P 500, which tracks 500 (rather than just 30) big U.S. companies. The S&P 500, for what its worth, is below its all-time highs in both nominal and inflation-adjusted terms.
(Excerpt) Read more at npr.org ...
Gold was only worth $35/oz the year I was born but back then the dollar was actually worth something...
This from the sycophants at NPR?
ABC announced today that the recovery was over and a new Bull market was in play!
Obamaphones and Mansions all around!
The stock market itself is no longer an indicator of economic health for the country; it may signal healthy bottom lines for companies, but the fact is that the best way for a company to drive up its stock price is to lay off American workers and replace them with Asian slaves.
Printing paper money to prop up a clueless regime has consequences.