2013-03-07 Daily Reckoning - The Dow Hits Procrustean Record

[David M]

http://www.dailyreckoning.com.au/the-dow-hits-procrustean-record/2013/03/07/

Tellingly, US stocks are NOT at an all-time high in terms of gold...or oil...or virtually any other commodity of real world value. They are, however, at an all-time low...adjusted for bitcoin.

[grondilu]

Or, to switch metaphors, it's easy to declare yourself a giant when you shave 97% off the value of a meter. Measurements matter, in other words.

I can't help thinking this guy may have been hanging around here, possibly reading a post where I made a similar analogy