Last week, the Dow Jones industrial average broke through all time highs. The Dow hit highs in October 2007, but pretty much fell apart after that, spending the next several months in free-fall before beginning a slow recovery that’s taken the last few years to complete.
So, the first thing to keep in mind, is that while a new record is nice, it basically means that the last five years were a wash. In other words, don’t pop the bubbly just yet.
Breaking a record always makes for good news. Whether it was Michael Phelps breaking all the swimming records ever in the Olympics a few years ago, or the chase for the home run record on several different occasions, a ‘new record’ is always something the media loves to latch on to.