["Wealth is the number of days you could sustain your lifestyle if you were to stop working today"- Buckminster Fuller]Or is the stock market only an indicator of credit availability, that is, leverage and a unassailable trust in future wealth creation?
07 October 2008
1966
So, regarding the very real, but still unlikely prospect that the Dow could fall back to the year 1966, (it peaked then at 6900 points versus 9400 today)... how good of an economic indicator is the stock market? Has there been any real and inalienable increase in wealth since 1966?
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