Dow Hits 10,000, Obama and Co. Have Saved the Day! Well, Not Really, But It Makes For a Great Story

Earlier today the Dow Jones Industrial Index hit the 10,000 mark for the first time since October of 2008. Browsing around the internet and reading the mainstream financial news websites one would think that this is a huge accomplishment for the Obama admistration, Bernanke, and the rest of the jokers creating economic policy in the United States. Articles like this one http://www.bloomberg.com/apps/news?pid=20601087&sid=amsnf8SEmjxc from Bloomberg, and this one from Yahoo! http://finance.yahoo.com/news/DJ-industrials-pass-10000-apf-3139746992.html?x=0&sec=topStories&pos=main&asset=&ccode= loudly proclaim this as a great milestone for the Dow, and for the "recovery" in general. According to Yahoo!, "Cheering erupted from traders on the floor of the New York Stock Exchange as stocks briefly moved above the psychological barrier." However, read a little closer. Yep, buried in both articles are little snippets mentioning that the ICE Futures U.S. Dollar index hit its lowest point since August of 2008 and that the dollar fell against 15 of the 16 most traded currencies. Further, taking a look at the graphs that I have posted below, which track the Dow vs. the price of gold and silver over the last ten years, it becomes plain to see that, even during this supposed "recovery," the Dow has lost significant value in relation to the price of gold and silver. Over the duration of the last ten years, the Dow is down more than 120% compared to gold and silver. But lets not worry about that. After all, the Dow is back to 10,000, Obama and Co. have saved the day, and we can all go back to more important things, like making sure that our fantasy football lineups for this week are unbeatable.


DJIA v. Gold/Silver over the past year:

DJIA v. Gold/Silver over the past 5 years:

Dow v. Gold/Silver over the past 10 years: