New York Sun: The fiat Dow
Monday, January 28, 2013
While the Dow Jones Industrial Average [Industry? Banks? Food Service?] is reported near 14,000, nearly twice what it was four years ago. [The DOW members changed [Much ado about nothing]. Even the money [elastic measuring tape] changed.]
Today, the Dow is actually worth substantially less measured by gold. Economic growth won't be likely, the Sun argues, until the Dow is rising when priced in gold. The Sun's editorial is headlined "The Fiat Dow."
Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul ☑