What makes the dimwitted media talking about how great the markets are even worse, is that the markets aren't doing all that well.
In july of 2007 the S&P 500 peaked at 1526. The S&P would have to hit nearly 1700 in 2013 inflation adjusted dollars to equal that IF you assume the consumer price index is correct and there's a lot of evidence that it's significantly low in it's inflation estimates.
In Jan of 2000, the S&P 500 peaked at 1498. The S&P would have to hit nearly 2000 in 2013 inflation adjusted dollars again assuming the CPI inflation rate is correct.
So YAY! The markets are doing fantastic! In 2013 we're still significantly lower than where we were 5 years ago. Worse even, we're not even in the same ballpark as where we were 13 years ago! That's after half a decade and a decade+ of population and productivity growth. Yeah the markets are fan :lanekiffin:ing tastic let me tell you.
Mark my words, the S&P is going to see 1550, maybe 1575, then it's back to the 800-900 range.
Edited by nova, 11 February 2013 - 04:00 PM.