Oct 15, 2009 - 10:32 AM EDT
The Mole submits:Groundhog day at the New York Stock Exchange as UBS (UBS) legend Art Cashin got to wear his new “Dow 10,000” hat after a slew of stellar Q3 earnings reports and better than expected retail sales numbers. But maybe it might be illustrative and enlightening to compare and contrast where we are now versus March 29th, 1999 as Cody Willard at Fox Business has done:
“The first time we crossed this 10k threshold, the biz headlines included Microsoft (MSFT) defending itself against Netscape/DoJ, the Fed Funds rate was at 4.75%, unemployment was at 4.4%, our national public debt stood at about $6.5 trillion and Lil Timmy Geithner was Under Secretary of the Treasury for International Affairs (1998–2001) under Treasury Secretaries Robert Rubin and Lawrence Summers. Summers was his mentor, but other sources call him a Rubin protégé.
Source: Seeking Alpha (Oct 15, 2009 - 10:32 AM EDT)