<<had stocks like MCD, KO, DEC (1973 only), XRX trading in the 55-80 PE range during the various bull markets between 1950-1973. >>
<<In the mid-60's Chrysler split 2 for 1 twice in one year, United Aircraft did also (I think).>>
Well, yeah, but is this the mid-60's, or is it 1973? 1973 was a key year not just in the markets, but in the entire history of the US post war boom. It was the last year real wages went up.
Except for the US, most of the rest of the economies of the world (Mexico, Japan, Korea and the rest of the Far East dragons) have crashed, really crashed. There are some hopeful signs in Europe, especially England, and some South American countries are holding on for the moment, but unemployment has been high in Germany for years, and their welfare state that glossed over the problem is showing strains. The optimism about the cold war ending has been replaced by nervousness about what happens to a post nuclear power when it doesn't pay its military. |
