Tale of 10000

A Guide to Personal Finance and the Workplace.

Just a number!?!?

Last week, the folks in the know barely knew how to deal with a Dow at 10000. They wanted to say "milestone," but then went to great lengths to say it's no big deal ... lots of comment about "just another number."

To which I say - and I believe I am quoting immortal words of the Bard, here - Puh!

It's just another number in the same way that a million bucks is just another sum of money. Maybe it is compared with $999,999, but it's still a tidy pile o' bucks. And it's a lot wealthier than $900,000 in much the same way that Dow 10000 is miles richer than 9000.

It's more than just a number.

Here's a point of reference. Back in 1990, the Nikkei 225, Tokyo's main stock market index, sat perched at 38,000, and for the Dow - mired around 2700 - 3000 looked like a pipe dream.

Japan Inc. moved through global financial currents like some unsinkable dreadnought. And the US business community was sinking into a recession.

But worlds have wobbled on their axes - a recession in Japan of unprecedented length, a record-breaking economic expansion in the US. The Dow has since more than tripled to break 10000. The Nikkei, having sunk recently near 13,000, has finally struggled back above 15,000.

It's a huge swing in numbers and fortunes, and it represents a triumph of dynamics. The US market has been left relatively free to expand and directly benefit a wide array of workers and investors. While Japan has been shackled by an Asian model that attempts to regulate markets to primarily benefit those in power.

So 10000 seems a confirmation that the US economic machine that carried the Dow through the "impossible" barriers of 7000, 8000, and 9000 is on the right path, and working.

You've read  of  free articles. Subscribe to continue.
QR Code to Tale of 10000
Read this article in
QR Code to Subscription page
Start your subscription today