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More Cowbell!

On January 20th, 2001 the US inaugurated its first MBA President. The Dow Jones Industrial Average was 10,587.59.

After massive tax cuts to spur investment and 7½ years in office, the Dow Jones Industrial Average closed today at 10,962.54.

The average spot price of a barrel of oil was $23.73 for the week ending January 19th, 2001.

Oil fell $6.44 to settle at $138.74 a barrel today.

2 comments

1 Michael { 07.16.08 at 10:40 am }

And those dollars aren’t worth as much against foreign currencies like the euro, the Canadian or Australian dollar. Adjust for inflation and we’re losing badly.

2 Bryan { 07.16.08 at 3:41 pm }

I read a few months ago that the Dow would need to be at nearly 14K to cover inflation alone.

My Mother dumped everything for cash a while ago because the management fees were eating up the small gains her investments were making.