{"id":522211,"date":"2010-04-09T17:30:59","date_gmt":"2010-04-09T21:30:59","guid":{"rendered":"http:\/\/washingtonindependent.com\/?p=81892"},"modified":"2010-04-09T17:30:59","modified_gmt":"2010-04-09T21:30:59","slug":"dow-jones-crosses-intrinsically-meaningless-milestone","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/522211","title":{"rendered":"Dow Jones Crosses Intrinsically Meaningless Milestone"},"content":{"rendered":"<p>Investors, rejoice! The Dow Jones Industrial Average has <a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2010\/04\/09\/AR2010040901408.html?hpid=topnews\">crossed<\/a> the 11,000 mark for the first time since September 26, 2008. The news has caused much <a href=\"http:\/\/blogs.wsj.com\/marketbeat\/2010\/04\/09\/dow-11000-will-it-bring-mom-and-pop-back\/\">breathlessness<\/a> in a <a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2010\/04\/09\/AR2010040901408.html?hpid=topnews\">financial<\/a> <a href=\"http:\/\/www.businessinsider.com\/dow-11000-2010-4?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+businessinsider+%28Business+Insider%29&amp;utm_content=Google+Reader\">blogosphere<\/a> hungry for good news. But, to throw some cold water on the situation, the number 11,000 is no more meaningful than, say, 7 or 912,384. Rising stock prices make money for investors and bring new entrants into the stock market. But they have only a tangential relationship to macroeconomic fundamentals. And, soberingly, having the Dow at 11,000 puts us precisely where we were in May 1999.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investors, rejoice! The Dow Jones Industrial Average has crossed the 11,000 mark for the first time since September 26, 2008. The news has caused much breathlessness in a financial blogosphere hungry for good news. But, to throw some cold water on the situation, the number 11,000 is no more meaningful than, say, 7 or 912,384. [&hellip;]<\/p>\n","protected":false},"author":6662,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-522211","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/522211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/6662"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=522211"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/522211\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=522211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=522211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=522211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}