How's the stock market doing since Obama took office?
Originally Posted by bigtex
CNBC Announces Stock Market Highs
Posted on February 19, 2013 by David
CNBC announced today that our stock markets are reaching new highs.
Almost. The Dow Jones topped out on October 9, 2007 at 14,165.53 and closed today at 14,035.67. But why quibble over 130 points when Happy Days are here again?
Adjusted for inflation, the stock market high is 15,105.78 in 2013 dollars (from 2008 instead of 2007 since the high was near the end of 2007). But why quibble over 1650 points (11%)? Let’s consider gold in this same time frame (October 9, 2007). Gold was $732.60 / oz. on that date. Using an inflation calculator and 2008 again, the inflation adjustment for gold today would be $781.23. Gold closed down today at $1604.70 / oz. Even doubling the inflation adjusted cost of gold, today’s value would be $1562.46.
So the value of gold adjusted for inflation more than doubled and the stock market is still down 11% in the same time frame.
But in the final analysis, the stock market is the measure of the health of our country. Even though gas has doubled, retail sales have collapsed and food has increased, our economy is on the mend. Just ask anyone buying lobster and steak at the grocery market with an EBT card.
David DeGerolamo
http://ncrenegade.com/editorial/cnbc...-market-highs/