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As the Dow flirts with 14,000 (and may not make it), the media will be talking about record highs. However, when adjusted for inflation today's Dow would have to hit 22,287 to break its late 1990s record. Not even the 2007 highs broke it, and in fact they were still within a few thousand points. We aren't back to a roaring bull market despite what the White House will tell you, and today's GDP numbers prove it. We are still very much within the Great Recession.
Blame Bush? Well it's interesting to note that the Dow peaked before he took office and there were economic warning signs as early as 2000, as Clinton finished his term. Maybe Bush simply delayed the inevitable, by staving off the big crash seven whole years.
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