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Politics : Ask Michael Burke

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To: Mike M2 who wrote (55902)	4/13/1999 7:43:00 PM
From: Freedom Fighter	of 132070

Mike, >>I tried to find an article by William R. Emmons of the St. Louis Fed " The Current PE Ratio: Higher than You Think" he makes the point that the current PE is at an unprecedented high for peak earnings. He points out that earnings declined 30% during the 89-91 recession . The New ERA folks don't worry about recessions because the fed has tamed the business cycle. -g- The site has been reorganized and i can't link Emmons name yet.<< I wrote something about normalized earnings a while back. A link to the report you are looking for is present at the bottom of my report. I agree with it strongly. members.aol.com Wayne

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