Originally posted by: Genx87
Originally posted by: Bowfinger
Originally posted by: Schadenfroh
Time for the march to 13,000!
Damn, hope it stays this way till friday, going to visit my broker when I get back home and dump some stock.
And when it gets to 13,900, it will finally be back to where we started (in inflation-adjusted dollars) almost seven years ago. It's good to see the Dow recovering, but let's keep it in context.
I think this is worth highlighting since ProfTLC continues to avoid this thread while parroting his misdirection about "record highs" in others (record high Dow, record high federal tax revenue, etc.). He continues to misrepresent his cherry-picked stats, then abandons the threads when refuted.
Picking an arbritary date and applying inflation to it is as cherry picked as you get.
Where should we be from the first day the Dow opened to today inflation wise?
If the market really mimicked monetary inflation, something I dont think it does due to adds and subtractions from the group and the way they calculate.
Opening day point total was 40.96 on May 26th 1896.
110 years later at an avg of 4% inflation rate = 3300
@5% = 9900
@6% = 26000
I dont know what our avg rate of inflation has been since 1896. I am guessing around 4-5% over that time span, but it could be higher or lower.
So the libs have a decision to make. Do they low ball it and make Bush look good, or high ball it and blow their own argument?