Re: Re: RE: plateaus

[Doug Henwood]

Rod Hay wrote:

>Doug was stretching it a bit. The downturn in the market hit in 1913, before
>the war started.

Here's the real (CPI-deflated) annual average of the Cowles 
Commission index, the S&P 500's predecessor:

1900127.27
1901162.27
1902167.47
1903138.19
1904134.96
1905172.36
1906184.96
1907150.43
1908149.14
1909186.37
1910173.02
1911170.92
1912170.24
1913148.28
1914135.36
1915142.40
1916152.42
1917116.46
191888.01
191989.27
192070.01

I don't think Mark has a 20% decline in mind; the 1916-20 slide is 
more like it.

Doug

Re: RE: plateaus

[Rod Hay]

Doug was stretching it a bit. The downturn in the market hit in 1913, before
the war started.

Rod Hay

Mark Jones wrote:

> Doug Henwood wrote:
> > in 1901 ... real prices stayed pretty flat for 15
> > years before a deep bear market set in.
>
> So this 15 years  gets us from 1901 to 1916, right? Anything else happening
> in the world right then that might correlate to an absence of plateaux and
> even a general crisis of capitalism?
>
> Mark Jones

--
Rod Hay
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