Dow 20k. I would believe that. Stocks are priced in USD. The USD is worth less and less everyday. The US economy needs a week dollar at this time to reduce its account deficit and boost its exports. This sounds like a Plaza Accord #2, but maybe without an accord?!
Ghanem
@
Oct 17, 2009 15:49:21 PM
An illusion
The value of the stocks should be expressed in yen to indicate their true value. The US dollar is roughly 60% of what it was 5 years ago, and after Obama's doubling of the money supply, we expect our dollar to soon go to 30% of what it was 5 years ago. All numbers here are approximate, but close enough to tell the story. If stock prices represent value, then the indices should rise in US dollars, but not in yen.
Ghanem @ Oct 17, 2009 15:49:21 PM
Larry of IA @ Oct 15, 2009 23:42:18 PM
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