Economy
Related: About this forum"Dow about 8 percent off 2000 peak, when adjusted for inflation."
The Dow Joness new high is fake
Posted by Ezra Klein on March 5, 2013 at 11:09 am
The Dow Jones industrial average passed 14,164.53 today. Thats its highest reading ever. Huzzah!
Or not. That number doesnt adjust for inflation. As CNBCs Jeff Cox writes, in inflation-adjusted dollars, the Dow would need to hit 15,731.54 to break the record. In fact, in inflation-adjusted terms, the Dow is still well below its 2000 high.
Oh, and the Dow Jones industrial average, which measures the performance of 30 companies, is a useless market indicator, and you should follow the S&P 500 instead.
Sorry to be a bummer.
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/03/05/the-dow-joness-new-high-is-fake/
marybourg
(12,633 posts)some profits now.
graham4anything
(11,464 posts)Why are people in the alt-media always wanting to doom and gloom and tear down America.
I no longer read any alt-media writer, who makes his living dooming and glooming everything and being contrary because they have made a fortune off of doing this
unblock
(52,252 posts)progree
(10,908 posts)JoeBlowToo
(253 posts)because there is nothing like a financial crisis to help the rich get richer!