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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (55889)4/13/1999 6:23:00 PM
From: Mike M2  Read Replies (2) 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. Mike
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