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Chart of the Day, a web site which has various financial charts, had an interesting one today. It's the Dow Jones Industrial Average compared to the price of gold. Although the Dow reached a record high in the summer of last year, in US Dollars, when you try to "buy the Dow" using gold, a totally different picture emerges.

When priced in gold, the Dow reached its apex in 2000 and has been sliding ever since.

2000... Let's see... that was the year Bush was elected! Coincidence?  I think not.

Even Reaganomics was better for the economy than Bushwhackonomics.


Jul. 19th, 2008 01:36 am (UTC)
Actually, if you look at the composite four-cycle theory of US economics, there was a general downturn predicted starting 'bout 2001 with all four cycles troughing in and around 2997; I suspect we've not seen the worst of things, financially, yet unless the government for once resists the urge to meddle and "do something". Much of Reaganomics was taken from the same book JFK used whereas Bush doesn't seem to honor those concepts.