Shouldn’t The Stock Market Be Down A Lot More Than It Is? It should – and it is.
Great post from itulips.com
"Here's a chart of the global stock market since the turn of the year 2000 as priced in hard money, updated through the current Ides of March. It reveals that the five year "bull market" we just experienced was a fraud based on the money illusion. That is, the appearance of rising stock values was due solely to the currency we priced them in losing value while stocks reached a temporary, versus a permanently high, plateau.
Since then, the stock market is down about 20% – in dollars. The same fraud is still at work on the way down, as well.
We have two things going down. Stocks and the currency we price them in – dollars. Since the start of the year the dollar, while declining, has – believe it or not – fallen falling less rapidly than stocks.
Add it all up and if you thought the 2002 plunge was steep just take a look at the right side of this chart. "
Chart is here: