It would have been in '64. The stock market experienced "peace rallies" every time the war looked like it was winding down. Johnson, as you well know, was financing the war with deficit spending, so interest rates were high -- causing the first S&L crisis. DICKENS, EDWIN (201)-408-3024 wrote: > > Michael Perelman wrote: > > >...wartime finance started to hurt the stock market. > > When? For how long? > > Edwin Dickens -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 916-898-5321 E-Mail [EMAIL PROTECTED]
