The Real Dow has gone from 1 in January 1980, to 44 in 2000, and now back down to 9.5 ounces per unit. It has crashed 78% since 2000, and now that we are deflating, the nominal Dow is catching up. This is the latest chart I could find:

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Here’s a longer-term view, from 1900 to 2004:

Source: Chartsrus.com