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.
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Established: 21 November 2004
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2 comments
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.
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.