Everyone forget about inflation?
The news that the Dow broke its 2007 record high had folks celebrating, but before they pop the bottle of Dom, they might consider inflation’s role in reaching the milestone.
Which is to say that because of inflation, we didn’t actually reach it.
The Motley Fool provides a rather large asterisk to Tuesday’s announcement, noting that by closing bell we were still under by 8%. Sure, real numbers were a record, but the adjusted numbers were not, and since adjusted numbers provide the measure of purchasing power, those are the ones to watch.
Folks at the Fool take aim at financial journalists for their accuracy (or lack thereof) in their reporting.