Indy Telecom & Industrial Media

From Instapundit:

CONSTANT-DOLLAR DOW: Today’s 10,000 is really 7,537. Or, in another metric: “It cost about 30 ounces to buy the 10,000 Dow last time. Now it costs less than 10.”

And here’s an interesting Bloomberg screen cap of the Dow over CPI –

(Link du jour Prasenjeet)

This happened earlier in the month, when the markets were sorta bullish.

Me: Bloody markets are up.
Friend: Yeah, don’t know why. Freaking annoying.

Of course, this was long before the current carnage.

This day, last year, people were predicting the DJIA to hit 20,000.

Now I think we’d be lucky if we did not go into the 6,000s.

And ladies and gentlemen, we are there. My predictions? We are likely to hit the low 8,000s; however, if we ever go below 8000, the chances of going below the 2002 low of 7784 is unlikely.

And if it does, I’m moving to a farm in Bhutan.