VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: pinhi who wrote (15710)	11/13/2000 9:44:19 PM
From: RocketMan	Read Replies (1) of 65232

I think this is what a real bear market looks like. In '73 and '74 it was 22 months of slow steady, grinding death. Other than a bear market in the techs, how can you compare these two periods? In the 70s the national budget was bleeding from Vietnam expenditures; society was bleeding from war casualties and divisions; the Soviet Union's influence was gaining around the world, and making political advances into Western Europe; the Arabs were making plans to choke western oil supplies; Iran was ready to topple; inflation was going into double digits; the economy was going into recession; there were riots in our cities.

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