One good day this week could propel the Dow to its first record close, on an inflation-adjusted basis, in nearly three decades.

Individuals and institutions gave away an estimated $260.28 billion in 2005, a 2.7 percent increase on an inflation-adjusted basis over the prior year.

"For almost five years, gross domestic product on an inflation-adjusted basis grew at 4 percent a year," he said.

On an inflation-adjusted basis, they argue, the real Fed funds rate remains quite high, particularly at this stage in the economic cycle.

But on an inflation-adjusted basis, the rise was just 1 percent.

In 2002, foundation giving fell by 1.8 percent on an inflation-adjusted basis.

In the last nine months, consumer spending has risen at about a 3 percent rate on an inflation-adjusted basis.

"And rents have eclipsed the highs of the early 1980's on an inflation-adjusted basis."

On an inflation-adjusted basis, that was the lowest price for gas since the 1920's.

On an inflation-adjusted basis, the average would have to reach a level of 14,104.97 for it to match its January 2000 peak.