Check out the charts in this article by Mike Maloney. [1] His conclusion?
I think at this point I have proven my point beyond a shadow of a doubt… I think I’ve presented an air tight case… and I think it’s time to pronounce it “case closed”… the general equities markets (a.k.a. stock markets) are crashing, and have been since 1999-2001, depending on how you measure it. Even though the Dow is going up in price, if everything else is going up in price faster than the Dow, then the Dow is crashing in relative terms. In fact, I can’t think of anything you can measure the Dow with that doesn’t show it crashing… except of course, dollars.
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