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Planet Money

Don't Believe The Hype

Despite all the celebration, the Dow Jones industrial average has not hit record highs recently. If you adjust for inflation, the highs just aren't as high as they seem. And even if we do hit a real, inflation-adjusted high in the next few weeks, it won't mean much. The Dow is a seriously flawed stock index, and it's certainly not a good way to measure what's going on in the overall economy. On today's show, we rain on the Dow's parade and explain why a lot of very smart people, hate this index so much. For more on the Dow: The Dow Isn't Really At A Record High (And It Wouldn't Matter If It Were) Dow's 'Record Highs' Misleading Without Including Inflation

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