The Dow Jones Industrial Average hit a new all-time high Wednesday, prompting the let's-all-cheer and the who-cares camps to have at it in the headlines with a debate about whether any of it matters.
For the Dow, the new mark comes five and a half years after its previous record was set in October 2007. Since then, the economy has seen a deep recession, Wall Street and the housing market collapsed, unemployment has surged, and GDP has been generally unimpressive. We've had a fiscal cliff, a sequestration, a flash crash, near-constant brawling in Washington, a downgrade of the U.S. credit rating and serious questions about the financial health of a series of European economies.
And yet here we are. Blame or credit the Federal Reserve, view it as eternal human optimism or as something nefarious driven by computer programs, love it or hate it. Whichever way you choose to view it and however you think we got here, the Dow has reached a milestone.
The best stock since the prior all-timeRead More »from The Best Dow Stock Since the Last Record Is …