Smug or mug?

Someone ought to remind Bob Pisani at CNBC to take a deep breath. He is so giddy at the Dow and other US markets' performance that he can hardly breathe.

The Dow Jones Industrials is up over 100 points today at roughly 11,200. But back in July 1999 - about 7 years ago - the Dow was at roughly 11,200. That's 7 years of stagnant money.

In July 1999 the Australian SPI was trading just under 3,100. Today it is trading just over 5,200. The Australian market is up 170% in the same time frame the US market, as measured by the Dow, was simply marking time.

Comparing the SPI and the Dow indexes, 7 years ago the Austalian market index was worth about 27.5% of the US market index. Today it is worth 46.5%.

Don't you wish you'd known that 7 years ago?

Do you think the Yanks will catch up or settle the score?