Feb

1

S&P maintains its record in jan 2023: since 2011 there have been 714 separate 20-day highs, of a total of 3118 trading days, that's 23%. in jan 2023 there were six 20-day highs of total of 22 trading days.

there is much adulatory talk about Paul Volker. how current chair admires him and wishes to follow in his footsteps. Having met the tall one at Larry Ritter's bedside and studied his record, I can say that nothing would be worse.

The tall man was Chair from 1979 to 1987. During his tenure unemployment, fed funds and the inflation rate started at 5%. they each increased gradually over the next 3 to 6 years to 10%. Interest rates on long term bonds reached a high of 18%, and the stock market performed dismally until the fake doc Greenspan took over.

dismal stagflation and misery was bound to happen . Mr Volker hated technology . he didn't use a typewriter , computer or tv or tape recorder. with a view of stamping out production and controlling the economy by reducing potential supply of goods, the misery was guaranteed.

correction: during his first four years the S&P was relatively constant, was approx 100. during the last 4 years the S&P doubled. perhaps the S&P anticipated the opposite approach of Mr. Reagan.

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