October 15, 2009

CONSTANT-DOLLAR DOW: Today’s 10,000 is really 7,537. Or, in another metric: “It cost about 30 ounces to buy the 10,000 Dow last time. Now it costs less than 10.”

UPDATE: A reader sends this Bloomberg screen grab showing Dow over CPI. “In
real terms, we’re near the bottom of the dozen year range.”


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