DOW 10,000!!!! Oh Wait, Make That 7,537

[slipslidingaway]

Charts at link...

http://www.zerohedge.com/article/dow-10000-oh-wait-make-7537

"Another great representation of the amazing loss of purchasing power by the US public are today's oblivious statements about the Dow at 10,000. While in absolute terms the Dow may cross whatever the Fed thinks is a necessary and sufficient mark before QE begins to taper off (Dow crosses 10k just as Treasury purchases expire), the truth is that over the past 10 years (the first time the DJIA was at 10,000) the dollar has lost 25% of its value. Therefore, we present the Dow over the last decade indexed for the DXY, which has dropped from 100 to about 75. On a real basis (not nominal) the Dow at 10,000 ten years ago is equivalent to 7,537 today! In other words, not only have we had a lost decade for all those who focus on the absolute flatness of the DJIA, but it is also a decade where the US Consumer has lost 25% of purchasing power from the perspective of stocks! You won't hear this fact on the MSM.

And if you want to be really scared, here is the comparable representation for the DJIA in ounces of gold. It cost about 30 ounces to buy the 10,000 Dow last time. Now it costs less than 10."


The Best Dow 10,000 Investment . . .

http://www.ritholtz.com/blog/2009/10/the-best-dow-10000-investment/

"Has to be those Dow 10,000 hats that CNBC had their anchors first wear in 1999. They got to reuse them so many time!

I wonder if they will break them out again this time . . ."