Tuesday, February 17, 2009

2009-30=1979

Is it really that bad now? Many may think so, especially those who were only kids in 1979.

Ben Stein wrote a short note about conditions 30 years ago:

“Think the stock market is bad now? We thought it was bad in 1979. It has risen since then -- even with the recent crash -- by almost ten times. Not ten percent. Ten times. Think real estate has dropped now? It has but it is still about four times what it was in 1979 here in Southern California. Things look bleak now, and they are, but they are a lot better than they were in 1979 in many, many ways.”

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