"current market turmoil...without precedent" ?
Perhaps the authors forgot the period between 1974 and 1984 when the market was returning about 5% in the atmosphere illustrated below. (Your stock investment didn't even cover inflation, that is, if you had a job so you could invest in the market) The misery index is the combination of inflation and unemployment rates.
The United States Misery Index By Year
1948 11.49 Truman
1949 5.10
1950 6.30
1951 11.16
1952 5.32
1953 3.74 Eisenhower
1954 5.91
1955 4.09
1956 5.64
1957 7.64
1958 9.57
1959 6.46
1960 7.00
1961 7.76 Kennedy
1962 6.77
1963 6.88 Johnson
1964 6.44
1965 6.10
1966 6.80
1967 6.62
1968 7.83
1969 8.95 Nixon
1970 10.82
1971 10.25
1972 8.87
1973 11.02
1974 16.67 Ford
1975 17.68
1976 13.45
1977 13.55 Carter
1978 13.69
1979 17.07
1980 20.76
1981 17.97 Reagan
1982 15.87
1983 12.82
1984 11.81
1985 10.74
1986 8.91
1987 9.84
1988 9.57
1989 10.09 Bush, G.H.W.
1990 11.01
1991 11.10
1992 10.52
1993 9.87 Clinton
1994 8.71
1995 8.40
1996 8.34
1997 7.28
1998 6.05
1999 6.41
2000 7.35
2001 7.59 Bush, G.W.
2002 7.37
2003 8.26
2004 8.21
2005 8.48
2006 7.87
2007 7.46
__________________
“Scientists are people who build the Brooklyn Bridge and then buy it.”
Wm. F. Buckley, Jr.
Last edited by sailaway21; 07-01-2008 at 01:06 AM.
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