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MAR 09, 2013 - Zero Hedge

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"What Looks Like A Rally May Just Be The Elites Passing Money Among Themselves"

Authored by Chrstopher Caldwell, originally posted at The FT, Why are citizens of the developed world looking a gift horse in the mouth? The Dow Jones Industrial Average rallied beyond 14,300 points this week, passing the highs it reached in 2007 just as the world economy was starting to wobble. Sure, there are reasons to be sceptical about the Dow. It is weighted, rather arbitrarily, by share price. But at least it is a quantifiable index of something. We look at 1954 – the year the Dow returned to its 1928 pre-depression high – as marking an epoch. And yet, this week, investors and pundits ... Read More

Tags: "What Looks Like A Rally May Just Be The Elites Passing Money Among Themselves",  Stock Market Latest News