Here We Are Again – We Reached Dow 10,000 in March of 1999

Peter Boockvar, equity strategist at Miller Tabak, points out a lot has changed since the Dow first broke the magical 10,000 barrier in March of 1999.  While most other assets have gained value, the Dow is stuck in the mud.  Worse yet, we’re not even close to break even if you factor in the fact the dollar has lost 25% of its value in the last 10 years, based on the Dollar Index.

Here’s some of Boockvar’s other sobering stats comparing today vs. the first time the Dow cracked 10,000:

  • Total US debt was $24.6T vs $50.8T today.
  • The CRB commodity index was at 192.40. Today, it stands at 269
  • Gold was at $280. Now, it’s hitting all-time highs above $1,060 per ounce.
  • A barrel of crude oil was $16.44, today it cracked $75.

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