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
190
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?
Something happened between the two: the Panic of 1907 in the US. The
crisis "involved a bank run, a stock market crash and a following
recession" (James Livingston, _Origins of the Federal Reserve System:
Money,Class and Corporate Capitalism:1890-1913, Cornell U. Pres)
Mine
>> in 1901 ... re
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 capita
