New All Time High In the DJIA?

It’s official:

As of a moment ago, the Dow Jones Industrial Average just surpassed 2007’s theoretical intraday high of 14,279.96.

Yay!  Hurrah! Happy days are here again!  Break out the champagne and cigars!

Or not.

About Bill Quick

I am a small-l libertarian. My primary concern is to increase individual liberty as much as possible in the face of statist efforts to restrict it from both the right and the left. If I had to sum up my beliefs as concisely as possible, I would say, "Stay out of my wallet and my bedroom," "your liberty stops at my nose," and "don't tread on me." I will believe that things are taking a turn for the better in America when married gays are able to, and do, maintain large arsenals of automatic weapons, and tax collectors are, and do, not.


New All Time High In the DJIA? — 3 Comments

  1. It’s even worse when you look at how the government has altered its inflation calculation. Using today’s method, the double digit inflation of the 1970s would have been downright mild. I know using gold as an inflation proxy isn’t perfect, but it would be interesting to see what has really happened to the dollar since Nixon untethered it from gold in the early ’70s. Using the gold-oil relation (an ounce buys 16-17 bbls of oil), I get a multiple of 30 over the last 40 years. Apply that to the Dow, and the adjustment might be back to 1950s levels.

  2. When viewed like that you can see the stagflation depression of the 1970’s was more devastating to capital than the Great Depression. IOW we had a greater depression under Carter than under Hoover. Luckily we got Reagan and not another FDR in 1980. Unfortunately I think Obama is shooting for the record.

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