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To: Ilaine who wrote (15450)2/22/2002 11:31:37 PM
From: Raymond Duray  Read Replies (1) | Respond to of 74559
 
CB,

Compare the cap growth of 1915 to that of 1942 and you will discover what caused the growth.

Re: One could make an argument that the Fed was responsible for capital growth formation.

And one could, until the '60's, argue that the moon was made of green cheese.



To: Ilaine who wrote (15450)2/22/2002 11:42:36 PM
From: Don Lloyd  Read Replies (1) | Respond to of 74559
 
CB -

...one thing you might notice is the dramatic increase in capital formation starting in 1915. I think that's interesting. The Federal Reserve Act was passed December 1913. ...

Wholesale Commodity Price Index 100.0 = 1930

1913 80.7
1914 78.7
1915 80.5
1916 98.9
1917 135.9
1918 152.0
1919 160.3
1920 178.7
1921 113.0
1922 111.9
1923 116.4
1924 113.5
1925 119.7
1926 115.7
1927 110.5
1928 112.1
1929 110.1
1930 100.0
1931 84.3
1932 75.3
1933 76.2
1934 86.5

Regards, Don